Arrowpoint Investment Partners Singapore Pte. Ltd. increased its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Free Report) by 357.9% during the 4th quarter, Holdings Channel reports. The firm owned 25,017 shares of the company’s stock after purchasing an additional 19,554 shares during the quarter. Ionis Pharmaceuticals comprises approximately 0.3% of Arrowpoint Investment Partners Singapore Pte. Ltd.’s portfolio, making the stock its 29th biggest holding. Arrowpoint Investment Partners Singapore Pte. Ltd.’s holdings in Ionis Pharmaceuticals were worth $1,979,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Ionis Pharmaceuticals by 72.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company’s stock worth $19,686,000 after buying an additional 274,310 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Ionis Pharmaceuticals by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 659,435 shares of the company’s stock valued at $19,895,000 after buying an additional 39,794 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Ionis Pharmaceuticals by 30.1% during the 1st quarter. Focus Partners Wealth now owns 9,832 shares of the company’s stock worth $297,000 after acquiring an additional 2,277 shares during the last quarter. Franklin Resources Inc. purchased a new position in Ionis Pharmaceuticals in the second quarter worth $220,000. Finally, Prudential Financial Inc. grew its position in Ionis Pharmaceuticals by 47.8% in the second quarter. Prudential Financial Inc. now owns 9,254 shares of the company’s stock worth $341,000 after acquiring an additional 2,991 shares in the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on IONS shares. Raymond James Financial began coverage on Ionis Pharmaceuticals in a research report on Friday, April 10th. They set an “outperform” rating and a $104.00 price target on the stock. Royal Bank Of Canada upped their price objective on Ionis Pharmaceuticals from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Citigroup initiated coverage on Ionis Pharmaceuticals in a report on Monday, May 18th. They set a “buy” rating and a $115.00 price objective on the stock. Bank of America boosted their target price on Ionis Pharmaceuticals from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $111.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $100.90.
Ionis Pharmaceuticals Stock Performance
Ionis Pharmaceuticals stock opened at $75.13 on Friday. The firm has a fifty day simple moving average of $74.91 and a two-hundred day simple moving average of $77.81. The company has a quick ratio of 4.09, a current ratio of 4.10 and a debt-to-equity ratio of 2.75. Ionis Pharmaceuticals, Inc. has a twelve month low of $34.78 and a twelve month high of $86.74. The company has a market capitalization of $12.42 billion, a PE ratio of -36.29 and a beta of 0.37.
Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.29. The firm had revenue of $246.09 million for the quarter, compared to analysts’ expectations of $195.57 million. Ionis Pharmaceuticals had a negative return on equity of 58.65% and a negative net margin of 30.91%.The company’s revenue for the quarter was up 86.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.93) earnings per share. Research analysts expect that Ionis Pharmaceuticals, Inc. will post -3.78 EPS for the current year.
Insider Buying and Selling at Ionis Pharmaceuticals
In related news, EVP Kyle Jenne sold 37,277 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $75.85, for a total transaction of $2,827,460.45. Following the transaction, the executive vice president directly owned 11,714 shares in the company, valued at $888,506.90. This trade represents a 76.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Spencer R. Berthelsen sold 8,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $75.67, for a total value of $605,360.00. Following the completion of the transaction, the director directly owned 156,013 shares in the company, valued at $11,805,503.71. This trade represents a 4.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 464,298 shares of company stock worth $34,319,225 over the last quarter. Company insiders own 1.81% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.
Since its founding in 1989 by Dr.
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