Ritholtz Wealth Management Acquires New Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Ritholtz Wealth Management acquired a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,501 shares of the company’s stock, valued at approximately $562,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IONS. Childress Capital Advisors LLC bought a new stake in shares of Ionis Pharmaceuticals in the 4th quarter valued at about $31,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter valued at about $31,000. Allred Capital Management LLC bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter valued at about $35,000. Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Ionis Pharmaceuticals in the 4th quarter valued at about $56,000. Finally, Advisory Services Network LLC raised its holdings in shares of Ionis Pharmaceuticals by 103.7% in the 4th quarter. Advisory Services Network LLC now owns 1,169 shares of the company’s stock valued at $66,000 after purchasing an additional 595 shares in the last quarter. Institutional investors own 86.17% of the company’s stock.

IONS has been the subject of several recent research reports. SVB Leerink boosted their price target on shares of Ionis Pharmaceuticals from $36.00 to $41.00 and gave the company a “market perform” rating in a report on Friday, May 14th. BMO Capital Markets reduced their price objective on shares of Ionis Pharmaceuticals from $90.00 to $76.00 and set an “outperform” rating for the company in a research note on Tuesday, March 23rd. Royal Bank of Canada reduced their price objective on shares of Ionis Pharmaceuticals from $76.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, March 23rd. Morgan Stanley reduced their price objective on shares of Ionis Pharmaceuticals from $38.00 to $35.00 and set an “underweight” rating for the company in a research note on Thursday, May 6th. Finally, UBS Group upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $33.00 to $37.50 in a research note on Friday, May 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $58.05.

NASDAQ:IONS opened at $38.21 on Friday. The stock has a market cap of $5.39 billion, a P/E ratio of -10.82 and a beta of 1.09. Ionis Pharmaceuticals, Inc. has a twelve month low of $34.43 and a twelve month high of $64.37. The company has a debt-to-equity ratio of 1.28, a quick ratio of 6.67 and a current ratio of 6.74. The stock’s 50 day moving average is $39.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, May 5th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.16). The company had revenue of $112.00 million for the quarter, compared to analysts’ expectations of $134.93 million. Ionis Pharmaceuticals had a negative return on equity of 41.74% and a negative net margin of 69.63%. The firm’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) EPS. As a group, research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -1.69 earnings per share for the current fiscal year.

Ionis Pharmaceuticals Company Profile

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; TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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Institutional Ownership by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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