Los Angeles Capital Management & Equity Research Inc. Buys New Stake in Ionis Pharmaceuticals, Inc. (IONS)
Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 51,135 shares of the company’s stock, valued at approximately $2,601,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in Ionis Pharmaceuticals by 2.1% during the first quarter. FMR LLC now owns 18,562,420 shares of the company’s stock valued at $746,210,000 after acquiring an additional 381,975 shares during the period. Vanguard Group Inc. increased its holdings in shares of Ionis Pharmaceuticals by 4.3% in the first quarter. Vanguard Group Inc. now owns 9,437,796 shares of the company’s stock worth $379,399,000 after purchasing an additional 384,830 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock worth $376,295,000 after purchasing an additional 3,364,621 shares during the last quarter. BB Biotech AG increased its holdings in shares of Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock worth $299,944,000 after purchasing an additional 548,123 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Ionis Pharmaceuticals by 37,569.7% in the first quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock worth $263,704,000 after purchasing an additional 6,542,394 shares during the last quarter. Institutional investors own 89.33% of the company’s stock.
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In other news, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were acquired at an average price of $8.00 per share, with a total value of $25,000,000.00. Following the acquisition, the insider now directly owns 28,884,540 shares in the company, valued at $231,076,320. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Patrick R. O’neil sold 1,000 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $55.00, for a total transaction of $55,000.00. Following the completion of the sale, the senior vice president now directly owns 10,633 shares in the company, valued at approximately $584,815. The disclosure for this sale can be found here. Insiders sold 55,309 shares of company stock valued at $2,997,692 over the last 90 days. Insiders own 1.86% of the company’s stock.
Ionis Pharmaceuticals, Inc. (NASDAQ IONS) opened at 58.34 on Friday. Ionis Pharmaceuticals, Inc. has a 52-week low of $24.58 and a 52-week high of $60.01. The company’s 50 day moving average is $51.14 and its 200-day moving average is $48.01. The stock has a market cap of $7.25 billion, a PE ratio of 280.48 and a beta of 3.13.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. Ionis Pharmaceuticals’s revenue was up 170.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.47) EPS. On average, equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post ($0.17) earnings per share for the current year.
IONS has been the topic of several analyst reports. TheStreet raised Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research note on Wednesday, July 5th. BMO Capital Markets restated a “buy” rating and set a $59.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, June 2nd. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Wednesday, July 12th. Cowen and Company restated a “market perform” rating on shares of Ionis Pharmaceuticals in a research report on Monday, May 22nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $42.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Ionis Pharmaceuticals has an average rating of “Hold” and an average target price of $49.31.
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.
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