Capital World Investors Has $832.32 Million Holdings in Ionis Pharmaceuticals, Inc. $IONS

Capital World Investors raised its holdings in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,722,728 shares of the company’s stock after acquiring an additional 182,540 shares during the quarter. Capital World Investors owned approximately 7.85% of Ionis Pharmaceuticals worth $832,321,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Steigerwald Gordon & Koch Inc. bought a new position in Ionis Pharmaceuticals during the third quarter worth about $25,000. Golden State Wealth Management LLC raised its stake in Ionis Pharmaceuticals by 198.4% in the 3rd quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock worth $25,000 after purchasing an additional 250 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at approximately $27,000. Allworth Financial LP grew its holdings in shares of Ionis Pharmaceuticals by 231.8% during the 2nd quarter. Allworth Financial LP now owns 740 shares of the company’s stock worth $29,000 after purchasing an additional 517 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Ionis Pharmaceuticals by 620.2% during the third quarter. Meeder Asset Management Inc. now owns 713 shares of the company’s stock worth $47,000 after buying an additional 614 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

Insider Buying and Selling

In related news, EVP Eric Swayze sold 23,463 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $79.12, for a total value of $1,856,392.56. Following the completion of the transaction, the executive vice president directly owned 30,453 shares in the company, valued at approximately $2,409,441.36. The trade was a 43.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shannon L. Devers sold 44,199 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $85.08, for a total value of $3,760,450.92. Following the sale, the executive vice president owned 17,494 shares in the company, valued at approximately $1,488,389.52. This represents a 71.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 596,652 shares of company stock worth $48,059,821 in the last 90 days. 2.71% of the stock is currently owned by company insiders.

Ionis Pharmaceuticals Stock Up 0.4%

IONS stock opened at $75.66 on Wednesday. The stock has a fifty day moving average of $80.90 and a 200-day moving average of $74.01. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $23.95 and a fifty-two week high of $86.74. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of -31.01 and a beta of 0.31. The company has a debt-to-equity ratio of 2.76, a quick ratio of 3.81 and a current ratio of 3.83.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Wednesday, February 25th. The company reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.18). Ionis Pharmaceuticals had a negative return on equity of 68.82% and a negative net margin of 40.36%.The business had revenue of $203.33 million for the quarter, compared to the consensus estimate of $156.07 million. During the same quarter in the prior year, the business earned ($0.66) EPS. Ionis Pharmaceuticals’s revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Ionis Pharmaceuticals from $82.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, January 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, February 25th. Needham & Company LLC upped their price target on shares of Ionis Pharmaceuticals from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Morgan Stanley set a $95.00 price objective on shares of Ionis Pharmaceuticals and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.