Fmr LLC raised its stake in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 0.6% during the first quarter, Holdings Channel reports. The institutional investor owned 20,633,698 shares of the company’s stock after buying an additional 123,948 shares during the quarter. Fmr LLC owned 0.15% of Ionis Pharmaceuticals worth $1,674,837,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of IONS. Buffington Mohr McNeal bought a new stake in Ionis Pharmaceuticals in the first quarter valued at $28,000. First Interstate Bank bought a new stake in shares of Ionis Pharmaceuticals during the first quarter valued at about $34,000. Laurel Wealth Advisors LLC bought a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at about $43,000. Daiwa Securities Group Inc. raised its stake in shares of Ionis Pharmaceuticals by 29.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 890 shares of the company’s stock valued at $48,000 after purchasing an additional 200 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Ionis Pharmaceuticals by 2,839.1% during the first quarter. Quadrant Capital Group LLC now owns 676 shares of the company’s stock valued at $53,000 after purchasing an additional 653 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.
IONS traded up $1.26 during trading on Monday, reaching $63.35. The company had a trading volume of 7,179 shares, compared to its average volume of 1,515,769. The stock has a market capitalization of $8.71 billion, a P/E ratio of 21.21 and a beta of 2.27. Ionis Pharmaceuticals Inc has a 12-month low of $40.91 and a 12-month high of $86.58. The company has a current ratio of 9.40, a quick ratio of 9.36 and a debt-to-equity ratio of 0.47.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.19. The firm had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $285.43 million. Ionis Pharmaceuticals had a return on equity of 44.03% and a net margin of 47.74%. Ionis Pharmaceuticals’s revenue was up 106.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. On average, research analysts predict that Ionis Pharmaceuticals Inc will post -0.21 earnings per share for the current year.
In other Ionis Pharmaceuticals news, Director Joseph H. Wender sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $79.63, for a total transaction of $796,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Patrick R. O’neil sold 7,654 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $84.83, for a total value of $649,288.82. Following the transaction, the senior vice president now directly owns 27,327 shares in the company, valued at approximately $2,318,149.41. The disclosure for this sale can be found here. Insiders sold a total of 218,422 shares of company stock worth $17,516,798 in the last three months. 2.40% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. ValuEngine cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Cantor Fitzgerald reiterated a “hold” rating on shares of Ionis Pharmaceuticals in a research report on Thursday, April 18th. Finally, Piper Jaffray Companies set a $75.00 price target on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Ionis Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $66.44.
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About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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