HBK Investments L P Makes New Investment in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

HBK Investments L P bought a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 60,000 shares of the company’s stock, valued at approximately $2,404,000.

Several other hedge funds also recently made changes to their positions in the company. Castle Hook Partners LP acquired a new position in shares of Ionis Pharmaceuticals in the 3rd quarter worth approximately $959,000. FORA Capital LLC acquired a new position in shares of Ionis Pharmaceuticals in the 3rd quarter worth approximately $204,000. MetLife Investment Management LLC grew its position in shares of Ionis Pharmaceuticals by 5.8% in the 3rd quarter. MetLife Investment Management LLC now owns 9,363 shares of the company’s stock worth $375,000 after acquiring an additional 514 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Ionis Pharmaceuticals in the 3rd quarter worth approximately $51,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Ionis Pharmaceuticals by 12.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 308,947 shares of the company’s stock worth $12,376,000 after acquiring an additional 34,097 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their target price on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Ionis Pharmaceuticals from $33.00 to $37.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. BMO Capital Markets lowered Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $67.00 to $60.00 in a research report on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.65.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP Eric Swayze sold 1,194 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following the sale, the executive vice president now directly owns 33,713 shares of the company’s stock, valued at $1,278,396.96. The trade was a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brett P. Monia sold 6,630 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the sale, the chief executive officer now directly owns 167,393 shares in the company, valued at $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,877 shares of company stock valued at $299,578 over the last three months. Company insiders own 2.71% of the company’s stock.

Ionis Pharmaceuticals Stock Performance

IONS opened at $35.90 on Friday. Ionis Pharmaceuticals, Inc. has a one year low of $33.33 and a one year high of $54.44. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82. The stock’s fifty day moving average is $38.35 and its 200-day moving average is $42.39.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.