EFG International AG Invests $9.74 Million in Ionis Pharmaceuticals, Inc. $IONS

EFG International AG bought a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 122,804 shares of the company’s stock, valued at approximately $9,738,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in shares of Ionis Pharmaceuticals by 79.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 383,211 shares of the company’s stock worth $30,385,000 after buying an additional 169,300 shares during the last quarter. Empowered Funds LLC increased its holdings in Ionis Pharmaceuticals by 318.1% during the first quarter. Empowered Funds LLC now owns 103,141 shares of the company’s stock worth $7,745,000 after buying an additional 78,470 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in Ionis Pharmaceuticals in the second quarter worth about $48,690,000. Eagle Health Investments LP bought a new stake in Ionis Pharmaceuticals in the second quarter worth about $15,428,000. Finally, Perceptive Advisors LLC purchased a new position in Ionis Pharmaceuticals in the first quarter valued at about $37,845,000. 93.86% of the stock is owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Trading Up 2.5%

Shares of IONS stock opened at $63.57 on Wednesday. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of -18.37 and a beta of 0.41. The company’s fifty day simple moving average is $63.77 and its two-hundred day simple moving average is $71.77. Ionis Pharmaceuticals, Inc. has a 1 year low of $41.71 and a 1 year high of $86.74. The company has a debt-to-equity ratio of 3.07, a current ratio of 7.89 and a quick ratio of 7.73.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.39. The firm had revenue of $267.95 million during the quarter, compared to analyst estimates of $189.10 million. Ionis Pharmaceuticals had a negative return on equity of 111.08% and a negative net margin of 64.76%.The business’s revenue for the quarter was down 40.7% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. As a group, analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Ionis Pharmaceuticals from $113.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Morgan Stanley decreased their target price on Ionis Pharmaceuticals from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, July 10th. Wall Street Zen lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Needham & Company LLC dropped their price target on Ionis Pharmaceuticals from $105.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $69.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday, July 29th. Seventeen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.15.

Insider Buying and Selling at Ionis Pharmaceuticals

In related news, Director Allene M. Diaz sold 10,111 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $85.42, for a total transaction of $863,681.62. Following the sale, the director owned 3,811 shares of the company’s stock, valued at approximately $325,535.62. This represents a 72.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett P. Monia sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.59, for a total value of $4,029,500.00. Following the completion of the transaction, the chief executive officer owned 245,571 shares of the company’s stock, valued at approximately $19,790,566.89. This represents a 16.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 233,163 shares of company stock worth $18,316,551 in the last three months. 1.81% of the stock is currently owned by corporate insiders.

Ionis Pharmaceuticals Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.