Insider Buying: Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Purchases 5,000 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has seen recent insider activity, as Director Michael R. Hayden purchased 5,000 shares of the company's stock on Monday, December 23rd. The shares were bought at an average price of $36.22 each, bringing the total transaction value to $181,100. Following this acquisition, Hayden now directly owns a total of 35,219 shares, which are currently valued around $1,275,632. This purchase represents a significant 16.55% increase in Hayden's ownership stake in the company. The details of the transaction have been filed with the Securities and Exchange Commission (SEC), making them publicly accessible.

Market Performance of Ionis Pharmaceuticals

On Thursday, Ionis Pharmaceuticals' stock traded down by 0.5%, reaching $36.33 per share. The trading volume for the day was approximately 1,005,815 shares, which is lower than its average volume of 1,352,247 shares. The company's stock has experienced a 52-week low of $33.33 and a high of $54.44 within that time frame. Ionis has a debt-to-equity ratio of 1.86 and boasts a current ratio of 8.91 along with a quick ratio of 8.82. The firm maintains a market capitalization of $5.74 billion and has a price-to-earnings (P/E) ratio of -14.89, alongside a beta of 0.35. Additionally, its fifty-day moving average is $37.21, while the 200-day moving average stands at $42.16.

Analyst Outlook on Ionis Pharmaceuticals

Various research firms have shared their insights regarding Ionis Pharmaceuticals. William Blair reaffirmed an "outperform" rating on the stock on December 20th. Guggenheim reduced their target price from $70.00 to $65.00 and issued a "buy" rating in a report on October 9th. The Royal Bank of Canada also maintained an "outperform" rating with a price target of $70.00 as stated in a research note published on September 26th. Conversely, StockNews.com downgraded the company from a "hold" to a "sell" rating on November 12th. Wells Fargo similarly adjusted its price objective from $82.00 to $77.00, assigning an "overweight" rating on November 7th. Overall, the stock has received mixed feedback, with two analysts recommending a sell, five suggesting a hold, twelve giving it a buy rating, and one advocating for a strong buy. According to data from MarketBeat, Ionis Pharmaceuticals holds an average rating of "Moderate Buy" with an average target price of $60.65.

Institutional Investment in Ionis Pharmaceuticals

Recent changes in institutional ownership of Ionis Pharmaceuticals have been noted. For example, nVerses Capital LLC acquired a new stake during the second quarter valued at $29,000. Meanwhile, GAMMA Investing LLC increased their position by 83.9% in the third quarter, now holding 664 shares worth about $27,000 after adding 303 shares recently. Other firms, including Itau Unibanco Holding S.A. and Capital Performance Advisors LLP, have also initiated new positions this year. Currently, institutional investors and hedge funds own approximately 93.86% of the stock.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc. is dedicated to discovering and developing RNA-targeted therapeutics in the United States. Among its key products are SPINRAZA, used for treating spinal muscular atrophy (SMA) in both pediatric and adult patients; TEGSEDI, an antisense injection addressing polyneuropathy from hereditary transthyretin amyloidosis in adults; and WAYLIVRA, which is utilized for treating familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.

Insider, Stock, Purchase