Callan Family Office LLC Buys Shares of 5,400 Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Callan Family Office LLC acquired 5,400 shares of Ionis Pharmaceuticals, Inc. during the second quarter, valued at approximately $213,000.
• Multiple institutional investors have increased their stakes in Ionis, with T. Rowe Price and Adage Capital Partners significantly boosting their positions by 14.2% and 291.1%, respectively.
• Analyst ratings for Ionis have been predominantly positive, with several firms raising their price targets, resulting in a consensus rating of "Moderate Buy" and a target price of $78.50.

Callan Family Office LLC bought a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,400 shares of the company's stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IONS. T. Rowe Price Investment Management Inc. raised its position in Ionis Pharmaceuticals by 14.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 16,175,533 shares of the company's stock valued at $488,016,000 after purchasing an additional 2,006,334 shares during the period. BVF Inc. IL purchased a new stake in Ionis Pharmaceuticals in the first quarter valued at $57,727,000. Adage Capital Partners GP L.L.C. raised its position in Ionis Pharmaceuticals by 291.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,075,600 shares of the company's stock valued at $32,451,000 after purchasing an additional 800,600 shares during the period. Teacher Retirement System of Texas raised its position in Ionis Pharmaceuticals by 660.7% in the first quarter. Teacher Retirement System of Texas now owns 500,451 shares of the company's stock valued at $15,099,000 after purchasing an additional 434,659 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Ionis Pharmaceuticals by 72.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company's stock valued at $19,686,000 after buying an additional 274,310 shares during the period. Hedge funds and other institutional investors own 93.86% of the company's stock.

Analyst Ratings Changes

IONS has been the topic of several research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $95.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, October 8th. Oppenheimer boosted their price objective on Ionis Pharmaceuticals from $84.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, October 8th. The Goldman Sachs Group upgraded Ionis Pharmaceuticals from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $45.00 to $65.00 in a report on Friday, September 26th. Needham & Company LLC boosted their price objective on Ionis Pharmaceuticals from $70.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their price objective on Ionis Pharmaceuticals from $83.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $78.50.

Ionis Pharmaceuticals Trading Up 0.0%

NASDAQ:IONS opened at $73.09 on Friday. The stock has a 50-day simple moving average of $57.99 and a 200-day simple moving average of $43.28. The stock has a market cap of $11.65 billion, a P/E ratio of -39.72 and a beta of 0.33. Ionis Pharmaceuticals, Inc. has a 1 year low of $23.95 and a 1 year high of $74.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.86 and a current ratio of 2.87.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.51. The firm had revenue of $452.00 million during the quarter, compared to analysts' expectations of $270.90 million. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 28.25%.The business's revenue was up 100.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Insider Transactions at Ionis Pharmaceuticals

In related news, Director B Lynne Parshall sold 5,000 shares of the company's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $71.74, for a total value of $358,700.00. Following the completion of the sale, the director directly owned 61,344 shares of the company's stock, valued at $4,400,818.56. This represents a 7.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick R. O'neil sold 13,441 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $69.74, for a total value of $937,375.34. Following the completion of the sale, the executive vice president directly owned 53,889 shares of the company's stock, valued at approximately $3,758,218.86. This trade represents a 19.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 790,202 shares of company stock worth $48,538,661. Insiders own 2.60% of the company's stock.

Ionis Pharmaceuticals 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.

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