Nationwide Fund Advisors lifted its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 313.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,457 shares of the company’s stock after purchasing an additional 57,952 shares during the quarter. Nationwide Fund Advisors owned approximately 0.06% of Ionis Pharmaceuticals worth $3,889,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Teacher Retirement System of Texas raised its stake in shares of Ionis Pharmaceuticals by 0.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,673 shares of the company’s stock worth $492,000 after buying an additional 43 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Ionis Pharmaceuticals by 0.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 24,390 shares of the company’s stock worth $1,241,000 after buying an additional 65 shares in the last quarter. Utah Retirement Systems raised its stake in shares of Ionis Pharmaceuticals by 0.5% during the 1st quarter. Utah Retirement Systems now owns 22,000 shares of the company’s stock worth $884,000 after buying an additional 100 shares in the last quarter. World Asset Management Inc grew its holdings in shares of Ionis Pharmaceuticals by 3.4% in the 2nd quarter. World Asset Management Inc now owns 5,614 shares of the company’s stock worth $286,000 after acquiring an additional 187 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Ionis Pharmaceuticals by 4.9% in the 2nd quarter. Prudential Financial Inc. now owns 8,641 shares of the company’s stock worth $440,000 after acquiring an additional 400 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on IONS shares. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Monday, July 31st. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $30.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, October 6th. TheStreet raised Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a research report on Sunday, September 17th. Finally, Barclays PLC initiated coverage on Ionis Pharmaceuticals in a research report on Wednesday, September 6th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.04.
In other Ionis Pharmaceuticals news, SVP Richard S. Geary sold 8,268 shares of the company’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $60.00, for a total transaction of $496,080.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Stanley T. Crooke sold 11,000 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $55.35, for a total transaction of $608,850.00. Following the transaction, the chairman now owns 48,014 shares in the company, valued at approximately $2,657,574.90. The disclosure for this sale can be found here. Insiders have sold a total of 90,268 shares of company stock worth $5,023,395 in the last quarter. 2.13% of the stock is owned by corporate insiders.
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Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The firm had revenue of $104.15 million during the quarter, compared to the consensus estimate of $93.29 million. During the same period in the prior year, the company posted ($0.47) earnings per share. The company’s revenue for the quarter was up 170.7% compared to the same quarter last year.
Ionis Pharmaceuticals Company 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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