Commonwealth Equity Services Inc raised its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 15.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,011 shares of the company’s stock after buying an additional 2,594 shares during the period. Commonwealth Equity Services Inc’s holdings in Ionis Pharmaceuticals were worth $697,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. HL Financial Services LLC acquired a new stake in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $216,000. Gofen & Glossberg LLC IL purchased a new position in shares of Ionis Pharmaceuticals during the third quarter worth about $247,000. BNP Paribas Arbitrage SA raised its position in shares of Ionis Pharmaceuticals by 182.0% in the third quarter. BNP Paribas Arbitrage SA now owns 51,100 shares of the company’s stock worth $1,872,000 after buying an additional 32,982 shares during the period. Tobam purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth about $4,630,000. Finally, Stifel Financial Corp purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth about $13,843,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

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

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) traded down 2.93% during midday trading on Friday, hitting $48.09. The stock had a trading volume of 1,713,943 shares. Ionis Pharmaceuticals, Inc. has a 12 month low of $19.59 and a 12 month high of $57.00. The stock has a 50 day moving average of $47.52 and a 200 day moving average of $35.01. The stock’s market cap is $5.83 billion.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.02. The firm had revenue of $110.90 million for the quarter, compared to analysts’ expectations of $114.65 million. Ionis Pharmaceuticals had a negative net margin of 77.30% and a negative return on equity of 120.60%. Ionis Pharmaceuticals’s revenue for the quarter was up 125.9% compared to the same quarter last year. Analysts expect that Ionis Pharmaceuticals, Inc. will post ($1.11) EPS for the current fiscal year.

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A number of brokerages recently issued reports on IONS. Leerink Swann restated a “market perform” rating and issued a $40.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, November 10th. Needham & Company LLC restated a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a research note on Sunday, January 8th. Janney Montgomery Scott restated a “neutral” rating and issued a $54.00 target price (up previously from $50.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, December 28th. J P Morgan Chase & Co restated a “hold” rating and issued a $35.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, November 10th. Finally, Zacks Investment Research lowered Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, November 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.48.

In related news, COO B Lynne Parshall sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $42.23, for a total transaction of $527,875.00. Following the transaction, the chief operating officer now owns 23,693 shares of the company’s stock, valued at $1,000,555.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elizabeth L. Hougen sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $46.05, for a total transaction of $115,125.00. Following the transaction, the chief financial officer now directly owns 9,048 shares in the company, valued at approximately $416,660.40. The disclosure for this sale can be found here. Corporate insiders own 1.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.

5 Day Chart for NASDAQ:IONS

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