Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 3,786.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,993 shares of the company's stock after purchasing an additional 28,247 shares during the period. GAMMA Investing LLC's holdings in Ionis Pharmaceuticals were worth $961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IONS. Signaturefd LLC boosted its holdings in shares of Ionis Pharmaceuticals by 160.0% during the 4th quarter. Signaturefd LLC now owns 949 shares of the company's stock worth $33,000 after purchasing an additional 584 shares during the last quarter. Huntington National Bank grew its holdings in shares of Ionis Pharmaceuticals by 193.5% in the fourth quarter. Huntington National Bank now owns 951 shares of the company's stock valued at $33,000 after purchasing an additional 627 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Ionis Pharmaceuticals by 183.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $36,000 after purchasing an additional 671 shares during the period. Raiffeisen Bank International AG purchased a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at about $62,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at about $107,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, Director Michael R. Hayden bought 15,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $31.86 per share, with a total value of $477,900.00. Following the acquisition, the director now directly owns 50,219 shares of the company's stock, valued at $1,599,977.34. The trade was a 42.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Ionis Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:IONS opened at $35.24 on Tuesday. The firm's 50 day moving average price is $32.13 and its 200 day moving average price is $32.87. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of -11.59 and a beta of 0.18. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $23.95 and a fifty-two week high of $52.34. The company has a quick ratio of 8.82, a current ratio of 8.47 and a debt-to-equity ratio of 2.12.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.93) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.14. The firm had revenue of $132.00 million for the quarter, compared to analysts' expectations of $144.31 million. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. The firm's revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.98) earnings per share. As a group, equities research analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IONS has been the subject of a number of analyst reports. Redburn Atlantic started coverage on shares of Ionis Pharmaceuticals in a report on Monday, March 31st. They issued a "neutral" rating and a $39.00 price objective for the company. Needham & Company LLC lowered their target price on shares of Ionis Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, February 20th. Guggenheim lowered their target price on shares of Ionis Pharmaceuticals from $65.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, BMO Capital Markets lowered their target price on shares of Ionis Pharmaceuticals from $60.00 to $45.00 and set a "market perform" rating for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.59.

About Ionis Pharmaceuticals

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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