Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Shares Bought by abrdn plc

abrdn plc grew its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 22.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 303,274 shares of the company’s stock after buying an additional 56,357 shares during the quarter. abrdn plc owned about 0.21% of Ionis Pharmaceuticals worth $12,064,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IONS. GAMMA Investing LLC lifted its holdings in Ionis Pharmaceuticals by 83.9% in the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after acquiring an additional 303 shares during the period. nVerses Capital LLC acquired a new stake in shares of Ionis Pharmaceuticals in the second quarter valued at about $29,000. Itau Unibanco Holding S.A. purchased a new stake in Ionis Pharmaceuticals during the second quarter worth about $37,000. Mather Group LLC. grew its position in Ionis Pharmaceuticals by 35.8% during the second quarter. Mather Group LLC. now owns 911 shares of the company’s stock worth $39,000 after buying an additional 240 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Ionis Pharmaceuticals by 948.8% in the first quarter. Advisors Asset Management Inc. now owns 3,178 shares of the company’s stock valued at $138,000 after buying an additional 2,875 shares in the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ionis Pharmaceuticals

In other 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 value of $116,640.00. Following the transaction, the executive vice president now directly owns 85,508 shares in the company, valued at $4,104,384. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 2,803 shares of company stock valued at $134,402. Company insiders own 2.71% of the company’s stock.

Ionis Pharmaceuticals Stock Up 1.0 %

Shares of NASDAQ:IONS opened at $38.76 on Friday. The company has a current ratio of 7.61, a quick ratio of 7.51 and a debt-to-equity ratio of 4.67. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -15.38 and a beta of 0.38. The stock’s 50-day moving average price is $41.78 and its two-hundred day moving average price is $43.01. Ionis Pharmaceuticals, Inc. has a 12-month low of $35.95 and a 12-month high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Thursday, August 1st. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.47. The firm had revenue of $225.00 million during the quarter, compared to the consensus estimate of $152.35 million. Ionis Pharmaceuticals had a negative net margin of 44.90% and a negative return on equity of 115.66%. Ionis Pharmaceuticals’s revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analyst Weigh In

IONS has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, August 2nd. TD Cowen raised their price target on Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Bank of America boosted their price objective on shares of Ionis Pharmaceuticals from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, Leerink Partnrs raised shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

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.