Edmond DE Rothschild Holding S.A. Makes New Investment in Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Edmond DE Rothschild Holding S.A. acquired 113,320 shares of Ionis Pharmaceuticals during the second quarter, worth approximately $8.99 million and representing 0.07% of the company.
• Institutional investors and hedge funds own 93.86% of Ionis, while company insiders sold 233,163 shares worth $18.3 million over the past three months under pre-arranged Rule 10b5-1 plans.
• Ionis reported a quarterly loss of $0.69 per share, outperforming the expected $1.08 loss, with revenue of $267.95 million. Analysts maintain a “Moderate Buy” consensus and an average price target of $94.15, versus a reported share price of $60.80.

Edmond DE Rothschild Holding S.A. purchased a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 113,320 shares of the company's stock, valued at approximately $8,985,000. Edmond DE Rothschild Holding S.A. owned 0.07% of Ionis Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IONS. Brown Brothers Harriman & Co. bought a new position in Ionis Pharmaceuticals in the 4th quarter worth approximately $27,000. Cassaday & Co Wealth Management LLC bought a new stake in Ionis Pharmaceuticals during the 1st quarter valued at $30,000. Quarry LP acquired a new position in Ionis Pharmaceuticals during the 3rd quarter worth $38,000. Johnson Financial Group Inc. acquired a new position in Ionis Pharmaceuticals during the 3rd quarter worth $44,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Ionis Pharmaceuticals in the fourth quarter worth $47,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP C Frank Bennett sold 15,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $85.46, for a total value of $1,281,900.00. Following the completion of the transaction, the executive vice president owned 75,018 shares in the company, valued at $6,411,038.28. This trade represents a 16.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett P. Monia sold 50,000 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.59, for a total value of $4,029,500.00. Following the completion of the transaction, the chief executive officer directly owned 245,571 shares in the company, valued at $19,790,566.89. This represents a 16.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 233,163 shares of company stock worth $18,316,551 over the last three months. Company insiders own 1.81% of the company's stock.

Ionis Pharmaceuticals Price Performance

NASDAQ IONS opened at $60.80 on Thursday. Ionis Pharmaceuticals, Inc. has a 1 year low of $41.71 and a 1 year high of $86.74. The business's fifty day moving average is $64.77 and its two-hundred day moving average is $72.41. The stock has a market capitalization of $10.10 billion, a P/E ratio of -17.57 and a beta of 0.41. The company has a debt-to-equity ratio of 3.07, a quick ratio of 7.73 and a current ratio of 7.89.

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 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 company's quarterly revenue was down 40.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 EPS. On average, research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IONS has been the topic of a number of research analyst reports. Citigroup lowered their price target on Ionis Pharmaceuticals from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Raymond James Financial set a $87.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, July 9th. Wells Fargo & Company decreased their target price on shares of Ionis Pharmaceuticals from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. HC Wainwright lowered their target price on shares of Ionis Pharmaceuticals from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Finally, Needham & Company LLC dropped their price target on shares of Ionis Pharmaceuticals from $105.00 to $86.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Seventeen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.15.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source