Rhumbline Advisers lowered its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 158,084 shares of the company’s stock after selling 2,114 shares during the period. Rhumbline Advisers owned approximately 0.13% of Ionis Pharmaceuticals worth $8,042,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IONS. FMR LLC boosted its stake in Ionis Pharmaceuticals by 2.1% in the first quarter. FMR LLC now owns 18,562,420 shares of the company’s stock valued at $746,210,000 after buying an additional 381,975 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ionis Pharmaceuticals by 4.3% in the first quarter. Vanguard Group Inc. now owns 9,437,796 shares of the company’s stock valued at $379,399,000 after buying an additional 384,830 shares in the last quarter. Wellington Management Group LLP boosted its stake in Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock valued at $376,295,000 after buying an additional 3,364,621 shares in the last quarter. BB Biotech AG boosted its stake in Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock valued at $299,944,000 after buying an additional 548,123 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Ionis Pharmaceuticals by 37,569.7% in the first quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock valued at $263,704,000 after buying an additional 6,542,394 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) opened at 47.99 on Friday. Ionis Pharmaceuticals, Inc. has a 1-year low of $24.58 and a 1-year high of $60.01. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 230.72 and a beta of 3.14. The stock’s 50 day moving average price is $50.97 and its 200 day moving average price is $47.20.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $93.29 million. During the same period in the prior year, the business earned ($0.47) EPS. Ionis Pharmaceuticals’s quarterly revenue was up 170.7% on a year-over-year basis. Analysts expect that Ionis Pharmaceuticals, Inc. will post ($0.20) EPS for the current year.

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IONS has been the topic of several analyst reports. Leerink Swann restated an “outperform” rating and issued a $45.00 target price (down from $47.00) on shares of Ionis Pharmaceuticals in a research report on Wednesday, May 17th. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Monday, July 31st. TheStreet upgraded Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. BMO Capital Markets restated a “buy” rating and issued a $59.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, June 2nd. Finally, Piper Jaffray Companies set a $51.00 target price on Ionis Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, May 10th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.91.

In related news, SVP C Frank Bennett sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction on Monday, July 24th. The shares were sold at an average price of $59.29, for a total transaction of $592,900.00. Following the completion of the transaction, the senior vice president now owns 25,041 shares of the company’s stock, valued at $1,484,680.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were purchased at an average cost of $8.00 per share, with a total value of $25,000,000.00. Following the purchase, the insider now directly owns 28,884,540 shares of the company’s stock, valued at $231,076,320. The disclosure for this purchase can be found here. Insiders have sold 54,379 shares of company stock valued at $2,946,052 in the last three months. 1.86% of the stock is owned by insiders.

About Ionis Pharmaceuticals

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.

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

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