Swedbank AB Makes New Investment in Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Swedbank AB opened a new position in Ionis Pharmaceuticals during the fourth quarter, buying 27,253 shares worth about $2.16 million.
• Ionis reported stronger-than-expected quarterly results, with revenue of $246 million and EPS of -$0.56, both beating analyst estimates; revenue was up 86.4% year over year.
• Wall Street remains upbeat on the stock, with several firms raising price targets and the consensus rating sitting at “Moderate Buy” with an average target price of $100.90.

Swedbank AB acquired a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 27,253 shares of the company's stock, valued at approximately $2,156,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital World Investors grew its holdings in Ionis Pharmaceuticals by 1.5% in the third quarter. Capital World Investors now owns 12,722,728 shares of the company's stock worth $832,321,000 after purchasing an additional 182,540 shares during the period. Tweedy Browne Co LLC grew its holdings in Ionis Pharmaceuticals by 0.3% in the third quarter. Tweedy Browne Co LLC now owns 2,901,216 shares of the company's stock worth $189,798,000 after purchasing an additional 9,268 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Ionis Pharmaceuticals by 1.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,418,491 shares of the company's stock worth $112,476,000 after buying an additional 25,367 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Ionis Pharmaceuticals by 190.3% in the third quarter. American Century Companies Inc. now owns 1,372,225 shares of the company's stock worth $89,771,000 after buying an additional 899,476 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Ionis Pharmaceuticals by 45.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,154,166 shares of the company's stock worth $75,506,000 after buying an additional 363,094 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company's stock.

Ionis Pharmaceuticals Stock Up 0.6%

Shares of Ionis Pharmaceuticals stock opened at $76.49 on Thursday. The company has a market cap of $12.64 billion, a price-to-earnings ratio of -36.95 and a beta of 0.38. The company's 50 day moving average is $74.43 and its 200 day moving average is $77.66. Ionis Pharmaceuticals, Inc. has a twelve month low of $32.00 and a twelve month high of $86.74. The company has a quick ratio of 4.09, a current ratio of 4.10 and a debt-to-equity ratio of 2.75.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, beating analysts' consensus estimates of ($0.85) by $0.29. The company had revenue of $246.00 million for the quarter, compared to the consensus estimate of $195.57 million. Ionis Pharmaceuticals had a negative net margin of 30.91% and a negative return on equity of 58.65%. The firm's revenue for the quarter was up 86.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.93) earnings per share. Research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.76 EPS for the current year.

Insider Activity at Ionis Pharmaceuticals

In related news, Director Allene M. Diaz sold 54,878 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $79.35, for a total transaction of $4,354,569.30. Following the transaction, the director owned 3,811 shares in the company, valued at $302,402.85. This represents a 93.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kyle Jenne sold 37,277 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $75.85, for a total transaction of $2,827,460.45. Following the transaction, the executive vice president owned 11,714 shares in the company, valued at approximately $888,506.90. This trade represents a 76.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 616,371 shares of company stock valued at $46,406,452 over the last quarter. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

IONS has been the topic of several analyst reports. Royal Bank Of Canada upped their target price on shares of Ionis Pharmaceuticals from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Morgan Stanley upped their target price on shares of Ionis Pharmaceuticals from $95.00 to $130.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Raymond James Financial initiated coverage on shares of Ionis Pharmaceuticals in a research note on Friday, April 10th. They issued an "outperform" rating and a $104.00 target price on the stock. Bank of America upped their target price on shares of Ionis Pharmaceuticals from $100.00 to $111.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Finally, Citigroup initiated coverage on shares of Ionis Pharmaceuticals in a research note on Monday, May 18th. They issued a "buy" rating and a $115.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $100.90.

About Ionis Pharmaceuticals

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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