Ionis Pharmaceuticals Inc (IONS) Position Boosted by Rhumbline Advisers
Rhumbline Advisers increased its position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 1.7% in the second quarter, Holdings Channel reports. The fund owned 149,846 shares of the company’s stock after purchasing an additional 2,512 shares during the period. Rhumbline Advisers’ holdings in Ionis Pharmaceuticals were worth $6,244,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd raised its holdings in Ionis Pharmaceuticals by 255.8% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,498 shares of the company’s stock worth $110,000 after acquiring an additional 1,796 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Ionis Pharmaceuticals in the 2nd quarter worth approximately $156,000. TLP Group LLC grew its position in Ionis Pharmaceuticals by 5,220.0% in the 1st quarter. TLP Group LLC now owns 4,522 shares of the company’s stock worth $199,000 after purchasing an additional 4,437 shares during the period. Mizuho Securities USA LLC bought a new stake in Ionis Pharmaceuticals in the 2nd quarter worth approximately $263,000. Finally, Bradley Foster & Sargent Inc. CT bought a new stake in Ionis Pharmaceuticals in the 1st quarter worth approximately $296,000. Institutional investors own 85.60% of the company’s stock.
In other news, Director Spencer R. Berthelsen sold 15,000 shares of the business’s stock in a transaction on Monday, June 25th. The shares were sold at an average price of $42.30, for a total transaction of $634,500.00. Following the completion of the sale, the director now owns 97,127 shares of the company’s stock, valued at approximately $4,108,472.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP C Frank Bennett sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $45.00, for a total transaction of $562,500.00. Following the sale, the senior vice president now directly owns 19,409 shares of the company’s stock, valued at approximately $873,405. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,149 shares of company stock valued at $2,094,959. Insiders own 2.13% of the company’s stock.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Tuesday, August 7th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). Ionis Pharmaceuticals had a negative return on equity of 1.22% and a negative net margin of 7.20%. The company had revenue of $117.75 million during the quarter, compared to the consensus estimate of $128.22 million. sell-side analysts forecast that Ionis Pharmaceuticals Inc will post -0.37 earnings per share for the current year.
IONS has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $51.00 target price for the company in a research report on Wednesday, May 9th. Morgan Stanley cut their target price on shares of Ionis Pharmaceuticals to $52.00 and set an “equal weight” rating for the company in a research report on Monday, May 7th. Stifel Nicolaus cut their target price on shares of Ionis Pharmaceuticals to $57.00 and set a “hold” rating for the company in a research report on Monday, May 7th. ValuEngine downgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 8th. Finally, Barclays downgraded shares of Ionis Pharmaceuticals from an “equal weight” rating to an “underweight” rating and set a $52.00 target price for the company. in a research report on Wednesday, June 20th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $52.00.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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