Fox Run Management L.L.C. Takes $434,000 Position in Ionis Pharmaceuticals, Inc. $IONS

Fox Run Management L.L.C. acquired a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,988 shares of the company’s stock, valued at approximately $434,000.

Other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its position in shares of Ionis Pharmaceuticals by 14.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,175,533 shares of the company’s stock valued at $488,016,000 after purchasing an additional 2,006,334 shares during the period. BVF Inc. IL bought a new position in Ionis Pharmaceuticals during the first quarter valued at about $57,727,000. Adage Capital Partners GP L.L.C. grew its holdings in Ionis Pharmaceuticals by 291.1% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,075,600 shares of the company’s stock worth $32,451,000 after acquiring an additional 800,600 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Ionis Pharmaceuticals by 72.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company’s stock valued at $19,686,000 after acquiring an additional 274,310 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Ionis Pharmaceuticals by 33.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 668,273 shares of the company’s stock valued at $26,403,000 after acquiring an additional 167,822 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IONS shares. Piper Sandler lifted their price objective on shares of Ionis Pharmaceuticals from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Bank of America lifted their price target on shares of Ionis Pharmaceuticals from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Needham & Company LLC upped their price target on Ionis Pharmaceuticals from $78.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Royal Bank Of Canada raised their price objective on Ionis Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Jefferies Financial Group lifted their target price on Ionis Pharmaceuticals from $83.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. One equities 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.15.

Insider Activity

In related news, Director B Lynne Parshall sold 5,000 shares of the firm’s 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 sale, the director directly owned 61,344 shares in the company, valued at approximately $4,400,818.56. This trade represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian Birchler sold 8,000 shares of the company’s 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 transaction, the executive vice president owned 48,826 shares in the company, valued at approximately $3,719,076.42. This represents a 14.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 924,789 shares of company stock worth $59,515,499. Corporate insiders own 2.71% of the company’s stock.

Ionis Pharmaceuticals Trading Up 0.3%

Ionis Pharmaceuticals stock opened at $72.67 on Thursday. Ionis Pharmaceuticals, Inc. has a 52 week low of $23.95 and a 52 week high of $76.78. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.86 and a current ratio of 2.87. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of -43.00 and a beta of 0.33. The company has a 50 day moving average price of $68.19 and a 200 day moving average price of $49.12.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, October 29th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.35. The company had revenue of $157.00 million during the quarter, compared to analyst estimates of $131.75 million. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 26.45%.The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.95) earnings per share. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Research 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.