Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Shares Bought by Algert Global LLC

Algert Global LLC raised its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 149.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,350 shares of the company’s stock after purchasing an additional 45,108 shares during the period. Algert Global LLC owned about 0.05% of Ionis Pharmaceuticals worth $3,591,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of Ionis Pharmaceuticals by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the company’s stock valued at $424,000 after acquiring an additional 202 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Ionis Pharmaceuticals by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 63,152 shares of the company’s stock valued at $3,195,000 after acquiring an additional 620 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ionis Pharmaceuticals by 13.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 260,702 shares of the company’s stock valued at $13,189,000 after acquiring an additional 31,025 shares in the last quarter. NEOS Investment Management LLC acquired a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at approximately $451,000. Finally, Sectoral Asset Management Inc. acquired a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at approximately $328,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ionis Pharmaceuticals

In related news, EVP Richard S. Geary sold 2,430 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $48.00, for a total transaction of $116,640.00. Following the completion of the transaction, the executive vice president now owns 85,508 shares of the company’s stock, valued at $4,104,384. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Richard S. Geary sold 2,430 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $48.00, for a total transaction of $116,640.00. Following the completion of the sale, the executive vice president now directly owns 85,508 shares of the company’s stock, valued at $4,104,384. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Klein III sold 12,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $50.00, for a total value of $600,000.00. Following the sale, the director now directly owns 16,346 shares of the company’s stock, valued at $817,300. The disclosure for this sale can be found here. Insiders sold 14,750 shares of company stock valued at $732,371 over the last 90 days. 2.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IONS has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Stifel Nicolaus increased their target price on Ionis Pharmaceuticals from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, June 27th. Leerink Partners raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $53.00 to $62.00 in a research report on Wednesday, July 24th. Sanford C. Bernstein raised Ionis Pharmaceuticals from an “underperform” rating to a “market perform” rating and set a $44.00 target price on the stock in a research report on Friday, June 14th. Finally, Bank of America increased their target price on Ionis Pharmaceuticals from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.56.

Ionis Pharmaceuticals Trading Down 1.9 %

NASDAQ:IONS opened at $40.06 on Tuesday. Ionis Pharmaceuticals, Inc. has a 1 year low of $35.95 and a 1 year high of $54.44. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of -15.00 and a beta of 0.39. The business has a fifty day moving average of $46.26 and a 200-day moving average of $43.71. The company has a debt-to-equity ratio of 4.67, a quick ratio of 7.51 and a current ratio of 7.61.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Thursday, August 1st. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.47. Ionis Pharmaceuticals had a negative return on equity of 115.66% and a negative net margin of 44.90%. The business had revenue of $225.00 million during the quarter, compared to analysts’ expectations of $152.35 million. During the same quarter last year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. Equities analysts predict that Ionis Pharmaceuticals, Inc. will post -3.68 earnings per share for the current year.

Ionis Pharmaceuticals Company 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.