GAMMA Investing LLC Has $961,000 Stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

GAMMA Investing LLC boosted its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 3,786.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,993 shares of the company's stock after buying an additional 28,247 shares during the quarter. GAMMA Investing LLC's holdings in Ionis Pharmaceuticals were worth $961,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

IONS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Ionis Pharmaceuticals from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Wall Street Zen raised shares of Ionis Pharmaceuticals to a "sell" rating in a report on Tuesday, March 18th. BMO Capital Markets reduced their price objective on Ionis Pharmaceuticals from $60.00 to $45.00 and set a "market perform" rating on the stock in a report on Thursday, February 20th. Citigroup decreased their price objective on Ionis Pharmaceuticals from $67.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Finally, HC Wainwright restated a "buy" rating and set a $50.00 target price on shares of Ionis Pharmaceuticals in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $57.59.

Ionis Pharmaceuticals Trading Up 0.6%

Shares of IONS traded up $0.22 during trading hours on Friday, reaching $37.23. The stock had a trading volume of 588,600 shares, compared to its average volume of 1,593,154. The company has a market cap of $5.93 billion, a P/E ratio of -12.45 and a beta of 0.18. Ionis Pharmaceuticals, Inc. has a 52 week low of $23.95 and a 52 week high of $52.34. The company has a quick ratio of 9.62, a current ratio of 9.66 and a debt-to-equity ratio of 2.63. The firm has a 50-day moving average of $32.69 and a 200 day moving average of $32.93.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last released its quarterly earnings data 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. Ionis Pharmaceuticals had a negative return on equity of 91.85% and a negative net margin of 63.65%. The business had revenue of $132.00 million for the quarter, compared to analysts' expectations of $144.31 million. During the same quarter in the previous year, the business posted ($0.98) EPS. Ionis Pharmaceuticals's revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, Director Michael R. Hayden purchased 15,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $31.86 per share, with a total value of $477,900.00. Following the transaction, the director now directly owns 50,219 shares of the company's stock, valued at $1,599,977.34. This represents a 42.59% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Ionis Pharmaceuticals Company 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.