Illinois Municipal Retirement Fund Acquires New Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Posted by on Apr 25th, 2023

Illinois Municipal Retirement Fund acquired a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,866 shares of the company’s stock, valued at approximately $448,000.

Other large investors have also added to or reduced their stakes in the company. Wipfli Financial Advisors LLC bought a new position in Ionis Pharmaceuticals in the 3rd quarter valued at approximately $27,000. Guardian Wealth Advisors LLC bought a new position in Ionis Pharmaceuticals during the 3rd quarter worth approximately $33,000. Romano Brothers AND Company bought a new position in Ionis Pharmaceuticals during the 4th quarter worth approximately $43,000. Almanack Investment Partners LLC. bought a new position in Ionis Pharmaceuticals during the 3rd quarter worth approximately $44,000. Finally, Quantbot Technologies LP bought a new position in Ionis Pharmaceuticals during the 2nd quarter worth approximately $44,000. Institutional investors own 87.32% of the company’s stock.

Ionis Pharmaceuticals Stock Performance

NASDAQ IONS opened at $35.72 on Tuesday. The company has a fifty day simple moving average of $36.08 and a 200 day simple moving average of $39.28. Ionis Pharmaceuticals, Inc. has a 12-month low of $31.46 and a 12-month high of $48.82. The company has a debt-to-equity ratio of 2.06, a current ratio of 7.07 and a quick ratio of 7.00.

Ionis Pharmaceuticals (NASDAQ:IONS – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.69. Ionis Pharmaceuticals had a negative net margin of 45.75% and a negative return on equity of 43.01%. The business had revenue of $152.00 million during the quarter, compared to the consensus estimate of $160.21 million. During the same quarter last year, the firm posted $1.41 EPS. Ionis Pharmaceuticals’s revenue was down 65.5% compared to the same quarter last year. As a group, sell-side analysts expect that Ionis Pharmaceuticals, Inc. will post -3.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IONS has been the subject of several analyst reports. SVB Leerink lowered their price target on shares of Ionis Pharmaceuticals from $34.00 to $27.00 and set a “market perform” rating for the company in a report on Thursday, February 23rd. SVB Securities lowered their price target on shares of Ionis Pharmaceuticals from $34.00 to $27.00 in a report on Thursday, February 23rd. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, February 23rd. Royal Bank of Canada restated an “outperform” rating and set a $65.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, February 23rd. Finally, Barclays lowered their price objective on shares of Ionis Pharmaceuticals from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.33.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,815 shares of Ionis Pharmaceuticals stock in a transaction on Monday, February 6th. The shares were sold at an average price of $40.79, for a total transaction of $74,033.85. Following the transaction, the executive vice president now directly owns 31,941 shares of the company’s stock, valued at approximately $1,302,873.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Brett P. Monia sold 24,651 shares of the business’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $40.69, for a total value of $1,003,049.19. Following the transaction, the chief executive officer now directly owns 145,305 shares of the company’s stock, valued at approximately $5,912,460.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric Swayze sold 1,815 shares of the business’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $40.79, for a total transaction of $74,033.85. Following the completion of the transaction, the executive vice president now directly owns 31,941 shares in the company, valued at $1,302,873.39. The disclosure for this sale can be found here. Insiders have sold 33,717 shares of company stock valued at $1,363,388 in the last three months. 2.36% of the stock is currently owned by insiders.

Ionis Pharmaceuticals Company Profile

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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 segment. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The company was founded by Stanley T.

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

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