39,159 Shares in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Bought by Highland Capital Management LLC

Highland Capital Management LLC acquired a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Rating) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 39,159 shares of the company’s stock, valued at approximately $1,450,000.

Other hedge funds have also recently made changes to their positions in the company. Glassman Wealth Services raised its position in shares of Ionis Pharmaceuticals by 61.0% in the 1st quarter. Glassman Wealth Services now owns 681 shares of the company’s stock worth $25,000 after acquiring an additional 258 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Ionis Pharmaceuticals in the 4th quarter valued at about $36,000. CWM LLC increased its position in Ionis Pharmaceuticals by 55.6% in the 1st quarter. CWM LLC now owns 1,554 shares of the company’s stock valued at $58,000 after buying an additional 555 shares in the last quarter. IndexIQ Advisors LLC bought a new stake in Ionis Pharmaceuticals in the 1st quarter valued at about $61,000. Finally, Itau Unibanco Holding S.A. increased its position in Ionis Pharmaceuticals by 125.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 2,804 shares of the company’s stock valued at $86,000 after buying an additional 1,563 shares in the last quarter. 79.31% of the stock is owned by institutional investors.

Ionis Pharmaceuticals Stock Performance

Shares of NASDAQ IONS opened at $44.97 on Friday. Ionis Pharmaceuticals, Inc. has a twelve month low of $25.04 and a twelve month high of $48.82. The stock’s 50 day moving average price is $42.90 and its 200-day moving average price is $39.10. The company has a debt-to-equity ratio of 2.00, a quick ratio of 8.11 and a current ratio of 8.18.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.13). The business had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.65 million. Ionis Pharmaceuticals had a negative return on equity of 4.10% and a negative net margin of 3.18%. Ionis Pharmaceuticals’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.57) EPS. As a group, equities analysts predict that Ionis Pharmaceuticals, Inc. will post -2.54 EPS for the current year.

Insider Buying and Selling

In related news, Director Joseph Klein III sold 1,333 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $38.24, for a total value of $50,973.92. Following the sale, the director now owns 18,791 shares of the company’s stock, valued at approximately $718,567.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on IONS. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Ionis Pharmaceuticals in a research report on Monday, July 18th. SVB Leerink lifted their price target on Ionis Pharmaceuticals from $26.00 to $27.00 and gave the company a “market perform” rating in a research note on Tuesday, June 21st. Piper Sandler lifted their price target on Ionis Pharmaceuticals from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, July 26th. Morgan Stanley upgraded Ionis Pharmaceuticals from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $57.00 in a research note on Friday, September 9th. Finally, TheStreet downgraded Ionis Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Monday, June 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.10.

About Ionis Pharmaceuticals

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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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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Institutional Ownership by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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