Corient Private Wealth LP Makes New Investment in Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Corient Private Wealth LP purchased 196,791 Ionis Pharmaceuticals shares worth approximately $15.6 million, while institutional investors and hedge funds collectively own 93.86% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $94.15, despite several firms lowering their targets.
• Ionis beat quarterly EPS and revenue expectations, reporting a loss of $0.69 per share and revenue of $267.95 million, though revenue declined 40.7% year over year. Insiders sold $18.3 million of stock during the last quarter.

Corient Private Wealth LP purchased a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 196,791 shares of the company's stock, valued at approximately $15,604,000. Corient Private Wealth LP owned about 0.12% of Ionis Pharmaceuticals as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at $27,000. Cassaday & Co Wealth Management LLC acquired a new position in Ionis Pharmaceuticals in the first quarter valued at $30,000. Allworth Financial LP acquired a new position in Ionis Pharmaceuticals in the second quarter valued at $41,000. Silvant Capital Management LLC purchased a new position in Ionis Pharmaceuticals during the second quarter worth about $43,000. Finally, Quarry LP purchased a new position in Ionis Pharmaceuticals during the third quarter worth about $38,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on IONS shares. Citigroup lowered their price target on Ionis Pharmaceuticals from $115.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 10th. TD Cowen reaffirmed a "buy" rating and set a $108.00 price objective on shares of Ionis Pharmaceuticals in a research note on Monday, June 15th. Guggenheim cut their price objective on shares of Ionis Pharmaceuticals from $106.00 to $89.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. The Goldman Sachs Group reissued a "neutral" rating and issued a $69.00 target price on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 29th. Finally, Leerink Partners boosted their target price on shares of Ionis Pharmaceuticals from $122.00 to $129.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. Seventeen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.15.

Insider Activity

In other Ionis Pharmaceuticals news, EVP C Frank Bennett sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $85.46, for a total transaction of $1,281,900.00. Following the completion of the sale, the executive vice president directly owned 75,018 shares in the company, valued at $6,411,038.28. The trade was a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a 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, CEO Brett P. Monia sold 50,000 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.59, for a total transaction of $4,029,500.00. Following the completion of the sale, the chief executive officer directly owned 245,571 shares of the company's stock, valued at $19,790,566.89. The trade was a 16.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 233,163 shares of company stock valued at $18,316,551 over the last quarter. 1.81% of the stock is owned by insiders.

Ionis Pharmaceuticals Stock Performance

Ionis Pharmaceuticals stock opened at $61.05 on Friday. The stock's 50-day moving average is $63.05 and its 200-day moving average is $71.38. The company has a market cap of $10.15 billion, a price-to-earnings ratio of -17.64 and a beta of 0.41. The company has a debt-to-equity ratio of 3.07, a current ratio of 7.89 and a quick ratio of 7.73. Ionis Pharmaceuticals, Inc. has a 12 month low of $42.13 and a 12 month high of $86.74.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.08) by $0.39. The business had revenue of $267.95 million during 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 company's revenue for the quarter was down 40.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. Equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.57 earnings per share for the current year.

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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