Nisa Investment Advisors LLC raised its stake in shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 262.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,277 shares of the company’s stock after acquiring an additional 25,556 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Ionis Pharmaceuticals were worth $2,080,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of IONS. Balentine LLC bought a new position in Ionis Pharmaceuticals during the 1st quarter valued at $29,000. Cornerstone Advisors Inc. boosted its stake in Ionis Pharmaceuticals by 107.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 663 shares of the company’s stock valued at $31,000 after acquiring an additional 343 shares during the last quarter. Dupont Capital Management Corp bought a new position in Ionis Pharmaceuticals during the 2nd quarter valued at $48,000. Marshall Wace LLP boosted its stake in Ionis Pharmaceuticals by 81.1% during the 4th quarter. Marshall Wace LLP now owns 1,016 shares of the company’s stock valued at $61,000 after acquiring an additional 455 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Ionis Pharmaceuticals by 69.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,518 shares of the company’s stock valued at $71,000 after acquiring an additional 623 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.
In other Ionis Pharmaceuticals news, EVP C Frank Bennett sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $59.77, for a total value of $896,550.00. Following the completion of the transaction, the executive vice president now directly owns 47,364 shares in the company, valued at $2,830,946.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Stanley T. Crooke sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $58.80, for a total transaction of $294,000.00. Following the completion of the transaction, the chairman now owns 11,935 shares of the company’s stock, valued at $701,778. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,000 shares of company stock valued at $4,123,750. Insiders own 2.40% of the company’s stock.
IONS has been the topic of a number of research reports. ValuEngine cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 30th. William Blair reissued a “hold” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, June 10th. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 13th. Oppenheimer dropped their target price on shares of Ionis Pharmaceuticals from $77.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $89.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, July 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Ionis Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $73.47.
Ionis Pharmaceuticals stock opened at $57.56 on Friday. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 42.64 and a beta of 1.65. The company has a current ratio of 9.91, a quick ratio of 9.83 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $59.93 and its two-hundred day moving average price is $56.25. Ionis Pharmaceuticals Inc has a 52 week low of $39.32 and a 52 week high of $73.09.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, May 6th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.23). Ionis Pharmaceuticals had a net margin of 16.79% and a return on equity of 12.50%. The company had revenue of $133.00 million for the quarter, compared to analyst estimates of $161.59 million. During the same period in the previous year, the business posted $0.62 EPS. The firm’s quarterly revenue was down 55.2% on a year-over-year basis. Research analysts expect that Ionis Pharmaceuticals Inc will post -0.48 earnings per share for the current fiscal year.
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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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