ADAR1 Capital Management LLC Acquires Shares of 166,286 Ionis Pharmaceuticals, Inc. $IONS

Key Points

• ADAR1 Capital Management acquired 166,286 Ionis Pharmaceuticals shares valued at approximately $13.2 million, establishing a 0.10% stake. Institutional investors and hedge funds collectively own 93.86% of the company.
• Ionis reported quarterly revenue of $267.95 million and an adjusted loss of $0.69 per share, beating analyst estimates, although revenue fell 40.7% year over year and the company remains unprofitable.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $94.15 price target versus the stock’s $63.57 opening price; however, insiders sold about $18.3 million of shares over the past three months.

ADAR1 Capital Management LLC acquired a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 166,286 shares of the company's stock, valued at approximately $13,185,000. ADAR1 Capital Management LLC owned 0.10% of Ionis Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in Ionis Pharmaceuticals in the 4th quarter valued at about $27,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ionis Pharmaceuticals during the first quarter worth about $30,000. Allworth Financial LP purchased a new stake in shares of Ionis Pharmaceuticals during the second quarter worth about $41,000. Silvant Capital Management LLC purchased a new stake in shares of Ionis Pharmaceuticals during the second quarter worth about $43,000. Finally, Quarry LP acquired a new position in shares of Ionis Pharmaceuticals in the third quarter worth about $38,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ IONS opened at $63.57 on Wednesday. The company has a current ratio of 7.89, a quick ratio of 7.73 and a debt-to-equity ratio of 3.07. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of -18.37 and a beta of 0.41. Ionis Pharmaceuticals, Inc. has a twelve month low of $41.71 and a twelve month high of $86.74. The business has a 50 day simple moving average of $63.77 and a 200-day simple moving average of $71.77.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.08) by $0.39. The firm had revenue of $267.95 million for the quarter, compared to analysts' expectations of $189.10 million. Ionis Pharmaceuticals had a negative return on equity of 111.08% and a negative net margin of 64.76%.The firm's revenue for the quarter was down 40.7% on a year-over-year basis. During the same period last year, the business posted $0.70 earnings per share. As a group, equities research analysts expect that Ionis Pharmaceuticals, Inc. will post -3.57 earnings per share for the current year.

Wall Street Analyst Weigh In

IONS has been the subject of a number of analyst reports. BMO Capital Markets assumed coverage on Ionis Pharmaceuticals in a report on Wednesday, August 19th. They issued a "market perform" rating and a $60.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Ionis Pharmaceuticals in a report on Friday, July 17th. Oppenheimer reaffirmed an "outperform" rating and issued a $111.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, April 30th. TD Cowen reiterated a "buy" rating and set a $108.00 target price on shares of Ionis Pharmaceuticals in a research note on Monday, June 15th. Finally, Canaccord Genuity Group decreased their price target on shares of Ionis Pharmaceuticals from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Seventeen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $94.15.

Insiders Place Their Bets

In related news, EVP Holly B. Kordasiewicz sold 60,846 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $73.41, for a total transaction of $4,466,704.86. Following the sale, the executive vice president owned 22,458 shares in the company, valued at $1,648,641.78. This represents a 73.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Eugene Schneider sold 26,000 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $81.05, for a total transaction of $2,107,300.00. Following the completion of the transaction, the executive vice president directly owned 77,114 shares in the company, valued at $6,250,089.70. This represents a 25.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 233,163 shares of company stock worth $18,316,551. Corporate insiders own 1.81% of the company's stock.

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.

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