Schwab Charles Investment Management Inc. Has $18.70 Million Stake in Ionis Pharmaceuticals, Inc. (IONS)
Schwab Charles Investment Management Inc. lifted its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 17.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 367,550 shares of the company’s stock after acquiring an additional 54,587 shares during the period. Schwab Charles Investment Management Inc. owned 0.30% of Ionis Pharmaceuticals worth $18,698,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of IONS. Westpac Banking Corp purchased a new position in shares of Ionis Pharmaceuticals during the 1st quarter worth $171,000. Capstone Asset Management Co. raised its holdings in shares of Ionis Pharmaceuticals by 10.3% during the 1st quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock worth $207,000 after acquiring an additional 480 shares during the period. World Asset Management Inc raised its holdings in shares of Ionis Pharmaceuticals by 27.3% during the 1st quarter. World Asset Management Inc now owns 5,427 shares of the company’s stock worth $218,000 after acquiring an additional 1,163 shares during the period. Cheyne Capital Management UK LLP purchased a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth $249,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Ionis Pharmaceuticals by 186.9% during the 1st quarter. Advisors Asset Management Inc. now owns 6,542 shares of the company’s stock worth $263,000 after acquiring an additional 4,262 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.
Shares of Ionis Pharmaceuticals, Inc. (IONS) opened at 53.88 on Thursday. Ionis Pharmaceuticals, Inc. has a one year low of $24.58 and a one year high of $60.01. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 259.04 and a beta of 3.13. The company has a 50-day moving average of $51.73 and a 200 day moving average of $48.15.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The business had revenue of $104.15 million for the quarter, compared to analysts’ expectations of $93.29 million. During the same quarter last year, the company posted ($0.47) earnings per share. The business’s quarterly revenue was up 170.7% compared to the same quarter last year. Equities research analysts forecast that Ionis Pharmaceuticals, Inc. will post ($0.17) earnings per share for the current fiscal year.
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In other news, Chairman Stanley T. Crooke sold 16,500 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $52.45, for a total value of $865,425.00. Following the transaction, the chairman now directly owns 53,014 shares in the company, valued at approximately $2,780,584.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP C Frank Bennett sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.29, for a total value of $592,900.00. Following the completion of the transaction, the senior vice president now owns 25,041 shares in the company, valued at $1,484,680.89. The disclosure for this sale can be found here. Insiders have sold 55,309 shares of company stock worth $2,997,692 over the last quarter. 1.86% of the stock is currently owned by company insiders.
Several research analysts have recently commented on IONS shares. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Monday, July 31st. TheStreet upgraded Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a report on Wednesday, July 5th. BMO Capital Markets reiterated a “buy” rating and set a $59.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, June 2nd. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a report on Sunday. Finally, Barclays PLC started coverage on Ionis Pharmaceuticals in a report on Wednesday, September 6th. They set an “equal weight” rating and a $55.00 price target on the stock. 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 company. Ionis Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $49.31.
Ionis Pharmaceuticals 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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