Frank Rimerman Advisors LLC Takes $228,000 Position in Ionis Pharmaceuticals, Inc. $IONS

Frank Rimerman Advisors LLC purchased a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the second quarter, according to its most recent filing with the SEC. The firm purchased 5,763 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IONS. CWM LLC increased its stake in Ionis Pharmaceuticals by 18.7% in the first quarter. CWM LLC now owns 2,435 shares of the company’s stock valued at $73,000 after purchasing an additional 384 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Ionis Pharmaceuticals by 3.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 11,411 shares of the company’s stock valued at $451,000 after buying an additional 424 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ionis Pharmaceuticals by 8.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,135 shares of the company’s stock valued at $185,000 after buying an additional 481 shares in the last quarter. Allworth Financial LP raised its stake in 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 buying an additional 517 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Ionis Pharmaceuticals by 3.5% during the first quarter. Victory Capital Management Inc. now owns 18,641 shares of the company’s stock worth $562,000 after acquiring an additional 637 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP Richard S. Geary sold 33,038 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $75.72, for a total transaction of $2,501,637.36. Following the transaction, the executive vice president directly owned 59,657 shares in the company, valued at $4,517,228.04. The trade was a 35.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $71.74, for a total transaction of $358,700.00. Following the completion of the sale, the director directly owned 61,344 shares in the company, valued at approximately $4,400,818.56. The trade was a 7.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 913,362 shares of company stock valued at $59,015,008. 2.60% of the stock is owned by company insiders.

Ionis Pharmaceuticals Stock Performance

Shares of NASDAQ IONS opened at $76.09 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.86 and a current ratio of 2.87. The stock has a 50 day moving average price of $69.69 and a 200 day moving average price of $51.03. The stock has a market capitalization of $12.32 billion, a PE ratio of -45.02 and a beta of 0.33. Ionis Pharmaceuticals, Inc. has a 52 week low of $23.95 and a 52 week high of $76.78.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.35. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 26.45%.The company had revenue of $156.72 million for the quarter, compared to analysts’ expectations of $131.75 million. During the same quarter in the prior year, the business posted ($0.95) EPS. The business’s revenue was up 17.2% compared to the same quarter last year. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IONS has been the subject of a number of research reports. Raymond James Financial reissued a “strong-buy” rating and set a $89.00 target price (up from $85.00) on shares of Ionis Pharmaceuticals in a research note on Thursday, October 30th. BMO Capital Markets upgraded shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $40.00 to $70.00 in a report on Wednesday, September 3rd. Stifel Nicolaus boosted their price objective on shares of Ionis Pharmaceuticals from $43.00 to $67.00 and gave the company a “hold” rating in a research report on Monday, October 6th. Wall Street Zen cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Guggenheim lifted their price target on Ionis Pharmaceuticals from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.15.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.