Keybank National Association OH lowered its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 47.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,480 shares of the company’s stock after selling 7,523 shares during the period. Keybank National Association OH’s holdings in Ionis Pharmaceuticals were worth $431,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IONS. Parallel Advisors LLC grew its holdings in shares of Ionis Pharmaceuticals by 62.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after acquiring an additional 800 shares during the period. Westpac Banking Corp purchased a new stake in Ionis Pharmaceuticals in the 1st quarter valued at approximately $171,000. Capstone Asset Management Co. lifted its stake in Ionis Pharmaceuticals by 10.3% in the 1st quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock valued at $207,000 after buying an additional 480 shares in the last quarter. World Asset Management Inc lifted its stake in Ionis Pharmaceuticals by 27.3% in the 1st quarter. World Asset Management Inc now owns 5,427 shares of the company’s stock valued at $218,000 after buying an additional 1,163 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at approximately $222,000. Institutional investors and hedge funds own 89.33% of the company’s stock.
A number of research firms recently issued reports on IONS. Stifel Nicolaus upped their target price on Ionis Pharmaceuticals from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, August 9th. TheStreet raised Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research note on Wednesday, July 5th. Leerink Swann reaffirmed an “outperform” rating and issued a $45.00 target price (down previously from $47.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday, July 26th. Finally, Zacks Investment Research lowered Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $49.31.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 16,500 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $52.45, for a total transaction of $865,425.00. Following the transaction, the chairman now directly owns 53,014 shares in the company, valued at approximately $2,780,584.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP C Frank Bennett sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.29, for a total transaction of $592,900.00. Following the transaction, the senior vice president now owns 25,041 shares in the company, valued at $1,484,680.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,309 shares of company stock worth $2,997,692. Corporate insiders own 1.86% of the company’s stock.
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) opened at 57.75 on Wednesday. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 277.64 and a beta of 3.13. The firm’s 50 day moving average price is $50.99 and its 200-day moving average price is $47.77. Ionis Pharmaceuticals, Inc. has a 52 week low of $24.58 and a 52 week high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The firm had revenue of $104.15 million for the quarter, compared to analysts’ expectations of $93.29 million. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. The company’s revenue for the quarter was up 170.7% on a year-over-year basis. Analysts expect that Ionis Pharmaceuticals, Inc. will post ($0.17) EPS for the current year.
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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