Strs Ohio Acquires New Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Strs Ohio acquired a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,779 shares of the company’s stock, valued at approximately $1,253,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new stake in Ionis Pharmaceuticals in the fourth quarter valued at about $34,000. Peoples Bank KS bought a new stake in Ionis Pharmaceuticals in the third quarter valued at about $39,000. China Universal Asset Management Co. Ltd. increased its holdings in Ionis Pharmaceuticals by 95.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,670 shares of the company’s stock valued at $166,000 after buying an additional 1,795 shares during the last quarter. Mitchell & Pahl Private Wealth LLC bought a new stake in Ionis Pharmaceuticals in the third quarter valued at about $210,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in Ionis Pharmaceuticals in the third quarter valued at about $224,000. 93.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IONS. Piper Sandler lifted their target price on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Royal Bank of Canada lifted their target price on Ionis Pharmaceuticals from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. Bank of America upgraded Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $62.00 in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.08.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the sale, the executive vice president now directly owns 19,631 shares in the company, valued at $816,649.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ionis Pharmaceuticals news, EVP Patrick R. O’neil sold 6,450 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $51.75, for a total value of $333,787.50. Following the transaction, the executive vice president now owns 46,802 shares of the company’s stock, valued at $2,422,003.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the transaction, the executive vice president now directly owns 19,631 shares in the company, valued at approximately $816,649.60. The disclosure for this sale can be found here. Insiders sold 51,434 shares of company stock worth $2,556,127 over the last ninety days. Company insiders own 2.65% of the company’s stock.

Ionis Pharmaceuticals Stock Performance

IONS opened at $41.07 on Tuesday. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of -16.04 and a beta of 0.39. The company has a debt-to-equity ratio of 3.18, a current ratio of 5.90 and a quick ratio of 5.83. Ionis Pharmaceuticals, Inc. has a 1-year low of $34.32 and a 1-year high of $54.44. The business has a 50 day moving average price of $43.67 and a two-hundred day moving average price of $47.30.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, February 21st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.72. The firm had revenue of $325.00 million during the quarter, compared to the consensus estimate of $176.01 million. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The firm’s revenue for the quarter was up 113.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.37) earnings per share. Research analysts predict that Ionis Pharmaceuticals, Inc. will post -4 EPS for the current fiscal year.

Ionis Pharmaceuticals Profile

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.