PNC Financial Services Group Inc. lowered its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,815 shares of the company’s stock after selling 82 shares during the period. PNC Financial Services Group Inc.’s holdings in Ionis Pharmaceuticals were worth $354,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock worth $376,295,000 after buying an additional 3,364,621 shares during the period. Norges Bank purchased a new position in Ionis Pharmaceuticals during the fourth quarter worth $50,976,000. BB Biotech AG increased its position in Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock worth $299,944,000 after buying an additional 548,123 shares during the period. FMR LLC increased its position in Ionis Pharmaceuticals by 2.1% in the first quarter. FMR LLC now owns 18,562,420 shares of the company’s stock worth $746,210,000 after buying an additional 381,975 shares during the period. Finally, American Century Companies Inc. increased its position in Ionis Pharmaceuticals by 20.4% in the first quarter. American Century Companies Inc. now owns 861,957 shares of the company’s stock worth $34,651,000 after buying an additional 145,850 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.
Shares of Ionis Pharmaceuticals, Inc. (NASDAQ IONS) traded down 8.09% during mid-day trading on Tuesday, reaching $48.31. The company’s stock had a trading volume of 2,750,987 shares. The firm’s market cap is $5.99 billion. Ionis Pharmaceuticals, Inc. has a one year low of $24.58 and a one year high of $60.01. The firm’s 50 day moving average is $53.06 and its 200 day moving average is $46.75.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.03. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. The firm had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. During the same quarter in the previous year, the business posted ($0.47) earnings per share. Ionis Pharmaceuticals’s revenue for the quarter was up 170.7% compared to the same quarter last year. On average, equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post $0.05 earnings per share for the current fiscal year.
IONS has been the topic of a number of research analyst reports. TheStreet upgraded Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a report on Wednesday, July 5th. BMO Capital Markets reiterated a “buy” rating and set a $59.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, June 2nd. Needham & Company LLC reiterated a “buy” rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Leerink Swann restated an “outperform” rating and issued a $45.00 price target (down previously from $47.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Finally, Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $46.44.
In other Ionis Pharmaceuticals news, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the stock in a transaction on Wednesday, July 19th. The shares were bought at an average cost of $8.00 per share, with a total value of $25,000,000.00. Following the transaction, the insider now owns 28,884,540 shares of the company’s stock, valued at approximately $231,076,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP C Frank Bennett sold 10,000 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.29, for a total transaction of $592,900.00. Following the transaction, the senior vice president now directly owns 25,041 shares in the company, valued at $1,484,680.89. The disclosure for this sale can be found here. Insiders sold a total of 54,379 shares of company stock worth $2,946,052 over the last 90 days. Company insiders own 1.86% of the company’s stock.
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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