Dowling & Yahnke LLC Has $34.38 Million Position in Ionis Pharmaceuticals, Inc. (IONS)
Dowling & Yahnke LLC increased its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 675,891 shares of the company’s stock after buying an additional 48 shares during the period. Ionis Pharmaceuticals comprises approximately 3.6% of Dowling & Yahnke LLC’s holdings, making the stock its 3rd largest position. Dowling & Yahnke LLC’s holdings in Ionis Pharmaceuticals were worth $34,383,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. bought a new position in Ionis Pharmaceuticals during the first quarter valued at about $138,000. Westpac Banking Corp bought a new position in Ionis Pharmaceuticals during the first quarter valued at about $171,000. Capstone Asset Management Co. increased its position in Ionis Pharmaceuticals by 10.3% in the first quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock valued at $207,000 after buying an additional 480 shares in the last quarter. World Asset Management Inc increased its position in Ionis Pharmaceuticals by 27.3% in the first quarter. World Asset Management Inc now owns 5,427 shares of the company’s stock valued at $218,000 after buying an additional 1,163 shares in the last quarter. Finally, Raymond James Trust N.A. increased its position in Ionis Pharmaceuticals by 2.9% in the first quarter. Raymond James Trust N.A. now owns 5,705 shares of the company’s stock valued at $229,000 after buying an additional 159 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.
Ionis Pharmaceuticals, Inc. (IONS) opened at 47.16 on Tuesday. The company’s 50-day moving average is $52.29 and its 200 day moving average is $47.02. The stock has a market capitalization of $5.86 billion, a PE ratio of 226.73 and a beta of 3.14. Ionis Pharmaceuticals, Inc. has a 12-month low of $24.58 and a 12-month high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. During the same period last year, the firm posted ($0.47) earnings per share. The company’s quarterly revenue was up 170.7% on a year-over-year basis. On average, analysts predict that Ionis Pharmaceuticals, Inc. will post ($0.03) EPS for the current year.
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Several equities research analysts have recently weighed in on the stock. Piper Jaffray Companies set a $51.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. BMO Capital Markets reiterated a “buy” rating and set a $59.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, July 12th. Finally, Laidlaw reiterated a “buy” rating and set a $65.00 target price on shares of Ionis Pharmaceuticals in a research note on Monday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $47.67.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 16,500 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $52.10, for a total transaction of $859,650.00. Following the completion of the transaction, the chairman now directly owns 51,476 shares of the company’s stock, valued at approximately $2,681,899.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP C Frank Bennett sold 10,000 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were 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 of the company’s stock, 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 valued at $2,946,052 over the last ninety 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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