SEB Asset Management AB purchased a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 114,334 shares of the company’s stock, valued at approximately $8,585,000. SEB Asset Management AB owned about 0.07% of Ionis Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Grandfield & Dodd LLC boosted its holdings in shares of Ionis Pharmaceuticals by 0.4% during the fourth quarter. Grandfield & Dodd LLC now owns 37,821 shares of the company’s stock worth $2,992,000 after acquiring an additional 146 shares during the period. Checchi Capital Advisers LLC lifted its holdings in Ionis Pharmaceuticals by 3.7% during the 1st quarter. Checchi Capital Advisers LLC now owns 4,429 shares of the company’s stock worth $333,000 after purchasing an additional 157 shares during the last quarter. Wedmont Private Capital lifted its holdings in Ionis Pharmaceuticals by 3.2% during the 4th quarter. Wedmont Private Capital now owns 5,536 shares of the company’s stock worth $460,000 after purchasing an additional 173 shares during the last quarter. Prospera Financial Services Inc boosted its stake in Ionis Pharmaceuticals by 3.9% in the 4th quarter. Prospera Financial Services Inc now owns 4,759 shares of the company’s stock valued at $376,000 after purchasing an additional 178 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in Ionis Pharmaceuticals by 2.6% in the 4th quarter. MetLife Investment Management LLC now owns 9,674 shares of the company’s stock valued at $765,000 after purchasing an additional 246 shares during the period. 93.86% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on IONS. Jefferies Financial Group lowered their price objective on Ionis Pharmaceuticals from $113.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Morgan Stanley decreased their price target on shares of Ionis Pharmaceuticals from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, July 10th. Royal Bank Of Canada lowered their price target on shares of Ionis Pharmaceuticals from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Wolfe Research reiterated a “peer perform” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, July 16th. Finally, HC Wainwright dropped their price objective on shares of Ionis Pharmaceuticals from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.90.
Ionis Pharmaceuticals Stock Performance
Shares of NASDAQ:IONS opened at $53.39 on Wednesday. Ionis Pharmaceuticals, Inc. has a 1 year low of $40.03 and a 1 year high of $86.74. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of -25.79 and a beta of 0.36. The company has a debt-to-equity ratio of 2.75, a current ratio of 4.10 and a quick ratio of 4.09. The company’s 50 day simple moving average is $72.82 and its 200 day simple moving average is $75.99.
Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.29. The firm had revenue of $246.09 million during the quarter, compared to analysts’ expectations of $195.56 million. Ionis Pharmaceuticals had a negative return on equity of 58.65% and a negative net margin of 30.91%.The company’s quarterly revenue was up 86.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.93) earnings per share. As a group, research analysts predict that Ionis Pharmaceuticals, Inc. will post -3.76 EPS for the current fiscal year.
Insider Buying and Selling at Ionis Pharmaceuticals
In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 50,000 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.59, for a total transaction of $4,029,500.00. Following the completion of the transaction, the chief executive officer owned 245,571 shares of the company’s stock, valued at approximately $19,790,566.89. The trade was a 16.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Allene M. Diaz sold 10,111 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $85.42, for a total transaction of $863,681.62. Following the completion of the transaction, the director directly owned 3,811 shares of the company’s stock, valued at $325,535.62. This trade represents a 72.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 233,163 shares of company stock worth $18,316,551 over the last quarter. 1.81% of the stock is currently owned by company insiders.
Ionis Pharmaceuticals Company Profile
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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