Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Holdings Boosted by Brown Advisory Inc.

Posted by on Feb 24th, 2023

Brown Advisory Inc. boosted its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Rating) by 10.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,630 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Brown Advisory Inc.’s holdings in Ionis Pharmaceuticals were worth $470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IONS. Heritage Wealth Management LLC purchased a new position in Ionis Pharmaceuticals during the 2nd quarter worth approximately $25,000. Ronald Blue Trust Inc. purchased a new position in Ionis Pharmaceuticals during the 2nd quarter worth approximately $25,000. Wipfli Financial Advisors LLC purchased a new position in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $27,000. Guardian Wealth Advisors LLC purchased a new position in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $33,000. Finally, Quantbot Technologies LP purchased a new position in shares of Ionis Pharmaceuticals during the 2nd quarter valued at $44,000. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IONS has been the topic of several research analyst reports. Morgan Stanley cut shares of Ionis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $56.00 to $40.00 in a report on Wednesday, December 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday. SVB Securities decreased their price objective on shares of Ionis Pharmaceuticals from $34.00 to $27.00 in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday. Finally, Citigroup upped their price objective on shares of Ionis Pharmaceuticals from $28.00 to $31.00 and gave the stock a “sell” rating in a report on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals presently has an average rating of “Hold” and an average target price of $47.92.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, CEO Brett P. Monia sold 25,066 shares of the stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $39.49, for a total value of $989,856.34. Following the completion of the transaction, the chief executive officer now directly owns 120,863 shares of the company’s stock, valued at approximately $4,772,879.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Brett P. Monia sold 25,066 shares of the business’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $39.49, for a total value of $989,856.34. Following the transaction, the chief executive officer now directly owns 120,863 shares of the company’s stock, valued at approximately $4,772,879.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric Swayze sold 5,631 shares of the stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $39.74, for a total value of $223,775.94. Following the sale, the executive vice president now owns 30,041 shares in the company, valued at $1,193,829.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,022 shares of company stock valued at $2,961,208. 2.36% of the stock is currently owned by corporate insiders.

Ionis Pharmaceuticals Stock Down 0.3 %

Shares of IONS opened at $36.69 on Friday. The company has a 50-day simple moving average of $39.02 and a 200-day simple moving average of $41.92. The firm has a market capitalization of $5.21 billion, a P/E ratio of -305.72 and a beta of 0.55. The company has a debt-to-equity ratio of 2.10, a quick ratio of 7.52 and a current ratio of 7.59. Ionis Pharmaceuticals, Inc. has a 52 week low of $29.68 and a 52 week high of $48.82.

Ionis Pharmaceuticals (NASDAQ:IONS – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.69. The business had revenue of $152.00 million during the quarter, compared to analyst estimates of $160.21 million. Ionis Pharmaceuticals had a net margin of 0.91% and a return on equity of 1.18%. The firm’s revenue for the quarter was down 65.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, equities research analysts expect that Ionis Pharmaceuticals, Inc. will post -2.62 earnings per share for the current year.

About Ionis Pharmaceuticals

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Ionis Pharmaceuticals, Inc engages in the development and commercialization of human therapeutic drugs using antisense technology. It operates through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases.

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Institutional Ownership by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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