Castle Rock Wealth Management LLC Invests $215,000 in Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Castle Rock Wealth Management LLC acquired a new position in Ionis Pharmaceuticals, investing approximately $215,000 to purchase 5,122 shares in the 2nd quarter.
• Several institutional investors have increased their stakes in Ionis Pharmaceuticals, with notable boosts from T. Rowe Price and Adage Capital Partners, indicating strong interest in the company.
• Ionis Pharmaceuticals reported a significant increase in quarterly revenue of 100.9% year-over-year, surpassing analysts' expectations, and beating EPS estimates by $0.51.

Castle Rock Wealth Management LLC bought a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,122 shares of the company's stock, valued at approximately $215,000.

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

Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS opened at $69.96 on Thursday. The stock has a market cap of $11.15 billion, a P/E ratio of -38.02 and a beta of 0.33. The company has a quick ratio of 2.86, a current ratio of 2.87 and a debt-to-equity ratio of 0.99. Ionis Pharmaceuticals, Inc. has a twelve month low of $23.95 and a twelve month high of $71.87. The business's 50-day moving average price is $53.89 and its two-hundred day moving average price is $41.33.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.51. The company had revenue of $452.00 million for 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%.Ionis Pharmaceuticals's revenue for the quarter was up 100.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.45) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Insider Activity at Ionis Pharmaceuticals

In related news, EVP Patrick R. O'neil sold 76,850 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $60.97, for a total transaction of $4,685,544.50. Following the transaction, the executive vice president directly owned 5,655 shares of the company's stock, valued at approximately $344,785.35. This trade represents a 93.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Elizabeth L. Hougen sold 49,800 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $65.26, for a total value of $3,249,948.00. Following the transaction, the executive vice president directly owned 110,500 shares in the company, valued at approximately $7,211,230. This represents a 31.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 755,146 shares of company stock worth $45,969,854 in the last quarter. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

IONS has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Ionis Pharmaceuticals from $43.00 to $67.00 and gave the stock a "hold" rating in a research note on Monday. Piper Sandler raised their target price on Ionis Pharmaceuticals from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Oppenheimer raised their target price on Ionis Pharmaceuticals from $84.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday. Needham & Company LLC raised their price target on Ionis Pharmaceuticals from $70.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday. Finally, The Goldman Sachs Group raised Ionis Pharmaceuticals from a "sell" rating to a "neutral" rating and raised their price target for the company from $45.00 to $65.00 in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ionis Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $78.28.

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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