Ionis Pharmaceuticals, Inc. (IONS) Stake Increased by Sei Investments Co.
Sei Investments Co. increased its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 11.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,237 shares of the company’s stock after buying an additional 4,030 shares during the period. Sei Investments Co.’s holdings in Ionis Pharmaceuticals were worth $1,618,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. purchased a new stake in shares of Ionis Pharmaceuticals during the third quarter worth approximately $3,298,000. Russell Investments Group Ltd. bought a new position in Ionis Pharmaceuticals during the fourth quarter worth about $976,000. State Board of Administration of Florida Retirement System boosted its position in Ionis Pharmaceuticals by 0.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 171,435 shares of the company’s stock worth $8,200,000 after buying an additional 1,324 shares during the period. Comerica Bank boosted its position in Ionis Pharmaceuticals by 33.3% in the fourth quarter. Comerica Bank now owns 16,505 shares of the company’s stock worth $794,000 after buying an additional 4,122 shares during the period. Finally, Van ECK Associates Corp boosted its position in Ionis Pharmaceuticals by 10.5% in the fourth quarter. Van ECK Associates Corp now owns 209,178 shares of the company’s stock worth $10,005,000 after buying an additional 19,824 shares during the period. Institutional investors own 88.73% of the company’s stock.
Shares of Ionis Pharmaceuticals, Inc. (IONS) opened at 49.68 on Monday. The stock’s market capitalization is $6.16 billion. The stock has a 50 day moving average of $47.08 and a 200-day moving average of $45.58. Ionis Pharmaceuticals, Inc. has a 52 week low of $20.49 and a 52 week high of $57.00.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Tuesday, May 9th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.13. Ionis Pharmaceuticals had a negative return on equity of 14.61% and a negative net margin of 4.80%. The company had revenue of $110.30 million during the quarter, compared to the consensus estimate of $86.03 million. During the same quarter last year, the company earned ($0.52) EPS. The company’s quarterly revenue was up 199.2% on a year-over-year basis. On average, equities research analysts expect that Ionis Pharmaceuticals, Inc. will post ($0.39) EPS for the current year.
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Several brokerages recently weighed in on IONS. Vetr cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating and set a $37.67 price target on the stock. in a research report on Monday, March 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, April 26th. Leerink Swann reaffirmed an “outperform” rating and set a $45.00 price objective (down from $47.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of Ionis Pharmaceuticals in a report on Tuesday, February 28th. Finally, Piper Jaffray Companies set a $51.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Ionis Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $43.97.
In related news, Chairman Stanley T. Crooke sold 5,500 shares of the firm’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $43.25, for a total transaction of $237,875.00. Following the completion of the sale, the chairman now directly owns 43,014 shares of the company’s stock, valued at approximately $1,860,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Patrick R. O’neil sold 1,000 shares of the firm’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $40.07, for a total value of $40,070.00. Following the sale, the senior vice president now directly owns 10,449 shares of the company’s stock, valued at $418,691.43. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,220 shares of company stock valued at $2,019,538. 1.86% of the stock is currently owned by insiders.
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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