Tocqueville Asset Management L.P. boosted its stake in Ionis Pharmaceuticals Inc. (NASDAQ:IONS) by 21.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,326,120 shares of the company’s stock after buying an additional 238,566 shares during the period. Tocqueville Asset Management L.P. owned about 1.10% of Ionis Pharmaceuticals worth $30,885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parametric Risk Advisors LLC bought a new stake in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $106,000. Opera Trading Capital increased its stake in shares of Ionis Pharmaceuticals by 150.0% in the first quarter. Opera Trading Capital now owns 2,892 shares of the company’s stock valued at $117,000 after buying an additional 1,735 shares during the last quarter. Rockefeller Financial Services Inc. bought a new stake in shares of Ionis Pharmaceuticals during the second quarter valued at approximately $114,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $354,000. Finally, BB&T Securities LLC increased its stake in shares of Ionis Pharmaceuticals by 61.3% in the first quarter. BB&T Securities LLC now owns 9,901 shares of the company’s stock valued at $400,000 after buying an additional 3,762 shares during the last quarter. Institutional investors own 89.65% of the company’s stock.

Institutional Ownership by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

Ionis Pharmaceuticals Inc. (NASDAQ:IONS) traded down 0.5321% during trading on Monday, reaching $28.8457. 899,970 shares of the company were exchanged. Ionis Pharmaceuticals Inc. has a one year low of $19.59 and a one year high of $65.34. The company’s market capitalization is $3.49 billion. The firm’s 50-day moving average is $32.46 and its 200 day moving average is $32.04.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. The firm earned $38.50 million during the quarter, compared to analyst estimates of $38.52 million. Ionis Pharmaceuticals had a negative net margin of 128.94% and a negative return on equity of 126.88%. The company’s quarterly revenue was down 68.0% compared to the same quarter last year. On average, analysts anticipate that Ionis Pharmaceuticals Inc. will post ($1.11) EPS for the current fiscal year.

IONS has been the subject of several research analyst reports. Cowen and Company reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, August 3rd. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $46.00 target price on shares of Ionis Pharmaceuticals in a report on Monday, September 26th. Leerink Swann reaffirmed a “market perform” rating and set a $36.00 target price (up previously from $26.00) on shares of Ionis Pharmaceuticals in a report on Tuesday, August 2nd. Jefferies Group reaffirmed an “underperform” rating and set a $12.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, July 15th. Finally, Needham & Company LLC lifted their target price on shares of Ionis Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $42.92.

In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $36.02, for a total transaction of $792,440.00. Following the completion of the transaction, the chairman now owns 45,029 shares in the company, valued at $1,621,944.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO B Lynne Parshall sold 12,500 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $29.88, for a total transaction of $373,500.00. Following the transaction, the chief operating officer now owns 25,558 shares of the company’s stock, valued at approximately $763,673.04. The disclosure for this sale can be found here. Company insiders own 1.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.

5 Day Chart for NASDAQ:IONS

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