Raymond James Financial Services Advisors Inc. Purchases 441 Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS)

Raymond James Financial Services Advisors Inc. raised its position in shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,530 shares of the company’s stock after acquiring an additional 441 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ionis Pharmaceuticals were worth $975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Balentine LLC bought a new position in shares of Ionis Pharmaceuticals during the 1st quarter worth about $29,000. Cornerstone Advisors Inc. boosted its position in shares of Ionis Pharmaceuticals by 107.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 663 shares of the company’s stock worth $31,000 after purchasing an additional 343 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Ionis Pharmaceuticals by 81.1% during the 4th quarter. Marshall Wace LLP now owns 1,016 shares of the company’s stock worth $61,000 after purchasing an additional 455 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Ionis Pharmaceuticals by 69.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,518 shares of the company’s stock worth $71,000 after purchasing an additional 623 shares in the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of Ionis Pharmaceuticals during the 1st quarter worth about $71,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Breaux Castleman sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the director now directly owns 25,183 shares in the company, valued at approximately $1,510,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP C Frank Bennett sold 15,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $59.77, for a total transaction of $896,550.00. Following the completion of the transaction, the executive vice president now owns 47,364 shares of the company’s stock, valued at $2,830,946.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,000 shares of company stock valued at $4,123,750. 2.40% of the stock is currently owned by company insiders.

Several equities analysts recently weighed in on IONS shares. Morgan Stanley raised their price target on shares of Ionis Pharmaceuticals from $51.00 to $56.00 and gave the company an “underweight” rating in a research report on Wednesday, July 15th. William Blair reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, June 10th. ValuEngine cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $89.00 price target on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 15th. Finally, Oppenheimer dropped their price target on shares of Ionis Pharmaceuticals from $77.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $73.47.

Shares of IONS stock opened at $57.56 on Friday. The company has a 50 day moving average of $59.93 and a 200-day moving average of $56.25. The company has a quick ratio of 9.83, a current ratio of 9.91 and a debt-to-equity ratio of 0.51. Ionis Pharmaceuticals Inc has a 12-month low of $39.32 and a 12-month high of $73.09. The firm has a market cap of $8.02 billion, a P/E ratio of 52.33 and a beta of 1.65.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.23). Ionis Pharmaceuticals had a return on equity of 12.50% and a net margin of 16.79%. The company had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $161.59 million. During the same quarter in the previous year, the business earned $0.62 EPS. The company’s revenue for the quarter was down 55.2% on a year-over-year basis. As a group, equities analysts expect that Ionis Pharmaceuticals Inc will post -0.48 EPS for the current year.

About Ionis Pharmaceuticals

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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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

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