Atika Capital Management LLC Invests $1.41 Million in Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Atika Capital Management LLC opened a new position in Ionis Pharmaceuticals, acquiring 21,500 shares worth about $1.41 million in the third quarter, according to the firm's 13F filing.
• Ionis reported quarterly EPS of ($1.41), missing estimates by $0.18 while posting revenue of $203.33 million (beating consensus) and year‑over‑year revenue down ~10.6%; the stock trades around $74.79 with a consensus analyst rating of "Moderate Buy" and an average price target of $89.00.
• Corporate insiders have been net sellers recently, disposing of roughly 804,850 shares (~$63.8 million) in the last 90 days, while institutional investors own about 93.86% of the stock.

Atika Capital Management LLC acquired a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,500 shares of the company's stock, valued at approximately $1,407,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. bought a new stake in Ionis Pharmaceuticals in the third quarter valued at $25,000. Golden State Wealth Management LLC grew its position in shares of Ionis Pharmaceuticals by 198.4% during the third quarter. Golden State Wealth Management LLC now owns 376 shares of the company's stock worth $25,000 after acquiring an additional 250 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter worth about $27,000. Allworth Financial LP increased its holdings in shares of Ionis Pharmaceuticals by 231.8% in the 2nd quarter. Allworth Financial LP now owns 740 shares of the company's stock worth $29,000 after acquiring an additional 517 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in Ionis Pharmaceuticals by 620.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 713 shares of the company's stock valued at $47,000 after purchasing an additional 614 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock opened at $74.79 on Thursday. Ionis Pharmaceuticals, Inc. has a 52 week low of $23.95 and a 52 week high of $86.74. The company has a current ratio of 3.83, a quick ratio of 3.81 and a debt-to-equity ratio of 2.76. The stock has a market cap of $12.35 billion, a PE ratio of -30.65 and a beta of 0.31. The company's 50-day moving average price is $80.82 and its two-hundred day moving average price is $74.01.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.18). Ionis Pharmaceuticals had a negative net margin of 40.36% and a negative return on equity of 68.82%. The business had revenue of $203.33 million for the quarter, compared to the consensus estimate of $156.07 million. During the same quarter last year, the business posted ($0.66) EPS. The business's revenue for the quarter was down 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IONS. Weiss Ratings reissued a "sell (d-)" rating on shares of Ionis Pharmaceuticals in a research note on Thursday, January 22nd. Wall Street Zen cut Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, February 25th. Leerink Partners increased their price objective on Ionis Pharmaceuticals from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company raised their target price on Ionis Pharmaceuticals from $82.00 to $100.00 and gave the company an "overweight" rating in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Ionis Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $89.00.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP C Frank Bennett sold 85,089 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $82.93, for a total transaction of $7,056,430.77. Following the completion of the sale, the executive vice president directly owned 80,293 shares of the company's stock, valued at $6,658,698.49. This trade represents a 51.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kyle Jenne sold 37,277 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $75.85, for a total value of $2,827,460.45. Following the completion of the transaction, the executive vice president owned 11,714 shares in the company, valued at $888,506.90. The trade was a 76.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 804,850 shares of company stock valued at $63,765,602 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

Ionis Pharmaceuticals 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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