Police & Firemen s Retirement System of New Jersey Has $2.36 Million Stock Position in Ionis Pharmaceuticals, Inc. $IONS

Police & Firemen s Retirement System of New Jersey grew its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 3.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 59,723 shares of the company’s stock after acquiring an additional 2,174 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Ionis Pharmaceuticals were worth $2,360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC boosted its stake in Ionis Pharmaceuticals by 18.7% in the 1st quarter. CWM LLC now owns 2,435 shares of the company’s stock valued at $73,000 after buying an additional 384 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 3.9% during the second quarter. PNC Financial Services Group Inc. now owns 11,411 shares of the company’s stock valued at $451,000 after acquiring an additional 424 shares during the period. Signaturefd LLC lifted its holdings in shares of Ionis Pharmaceuticals by 45.6% during the first quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock valued at $42,000 after acquiring an additional 433 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ionis Pharmaceuticals by 8.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,135 shares of the company’s stock valued at $185,000 after purchasing an additional 481 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Ionis Pharmaceuticals by 231.8% in the 2nd quarter. Allworth Financial LP now owns 740 shares of the company’s stock worth $29,000 after purchasing an additional 517 shares during the last quarter. Institutional investors own 93.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IONS shares. Oppenheimer lifted their price target on shares of Ionis Pharmaceuticals from $84.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Barclays lifted their target price on shares of Ionis Pharmaceuticals from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Piper Sandler increased their price target on Ionis Pharmaceuticals from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Morgan Stanley raised their price target on Ionis Pharmaceuticals from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, BMO Capital Markets raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $40.00 to $70.00 in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.15.

Insider Activity

In other news, EVP Brian Birchler sold 8,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $76.17, for a total transaction of $609,360.00. Following the completion of the sale, the executive vice president owned 48,826 shares in the company, valued at $3,719,076.42. The trade was a 14.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $71.74, for a total transaction of $358,700.00. Following the completion of the transaction, the director owned 61,344 shares in the company, valued at $4,400,818.56. This represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 914,789 shares of company stock worth $59,075,699. Corporate insiders own 2.60% of the company’s stock.

Ionis Pharmaceuticals Stock Performance

IONS stock opened at $74.00 on Thursday. The company has a 50 day moving average price of $69.25 and a 200 day moving average price of $50.58. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $23.95 and a fifty-two week high of $76.78. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 2.86. The stock has a market capitalization of $11.99 billion, a PE ratio of -43.79 and a beta of 0.33.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, October 29th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.15) by $0.35. The company had revenue of $156.72 million during the quarter, compared to analysts’ expectations of $131.75 million. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 26.45%.The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the firm earned ($0.95) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current 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.