BLB&B Advisors LLC held its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the second quarter, according to its most recent filing with the SEC. The fund owned 63,911 shares of the company’s stock at the end of the second quarter. BLB&B Advisors LLC owned 0.05% of Ionis Pharmaceuticals worth $2,569,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Ionis Pharmaceuticals by 37,569.7% in the first quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock valued at $263,704,000 after buying an additional 6,542,394 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock valued at $376,295,000 after buying an additional 3,364,621 shares during the last quarter. State Street Corp raised its stake in shares of Ionis Pharmaceuticals by 20.5% in the first quarter. State Street Corp now owns 3,340,471 shares of the company’s stock valued at $134,285,000 after buying an additional 567,792 shares during the last quarter. BB Biotech AG raised its stake in shares of Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock valued at $299,944,000 after buying an additional 548,123 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Ionis Pharmaceuticals by 4.3% in the first quarter. Vanguard Group Inc. now owns 9,437,796 shares of the company’s stock valued at $379,399,000 after buying an additional 384,830 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.
Ionis Pharmaceuticals, Inc. (IONS) opened at 47.41 on Thursday. The firm has a 50-day moving average price of $51.89 and a 200 day moving average price of $47.05. The company has a market cap of $5.90 billion, a P/E ratio of 227.93 and a beta of 3.14. Ionis Pharmaceuticals, Inc. has a 12 month low of $24.58 and a 12 month high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.03. The business had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The company’s revenue for the quarter was up 170.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.47) EPS. On average, equities analysts expect that Ionis Pharmaceuticals, Inc. will post ($0.18) earnings per share for the current year.
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IONS has been the topic of several recent research reports. TheStreet raised Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a report on Wednesday, July 5th. BMO Capital Markets reissued a “buy” rating and set a $59.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, June 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Leerink Swann reaffirmed an “outperform” rating and issued a $45.00 price target (down previously from $47.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Finally, Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $47.67.
In other news, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were bought at an average price of $8.00 per share, with a total value of $25,000,000.00. Following the acquisition, the insider now directly owns 28,884,540 shares in the company, valued at approximately $231,076,320. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Stanley T. Crooke sold 16,500 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $52.10, for a total value of $859,650.00. Following the sale, the chairman now directly owns 51,476 shares in the company, valued at approximately $2,681,899.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,379 shares of company stock worth $2,946,052. Company insiders own 1.86% of the company’s stock.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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