12,501 Shares in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management acquired a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,501 shares of the company’s stock, valued at approximately $562,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Profund Advisors LLC grew its holdings in Ionis Pharmaceuticals by 9.7% in the fourth quarter. Profund Advisors LLC now owns 28,489 shares of the company’s stock worth $1,611,000 after purchasing an additional 2,520 shares during the period. Korea Investment CORP grew its holdings in Ionis Pharmaceuticals by 13.1% in the fourth quarter. Korea Investment CORP now owns 38,900 shares of the company’s stock worth $2,199,000 after purchasing an additional 4,500 shares during the period. Brookfield Asset Management Inc. purchased a new stake in Ionis Pharmaceuticals in the fourth quarter worth about $1,047,000. International Biotechnology Trust PLC grew its holdings in Ionis Pharmaceuticals by 95.5% in the fourth quarter. International Biotechnology Trust PLC now owns 77,781 shares of the company’s stock worth $4,398,000 after purchasing an additional 38,000 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new stake in Ionis Pharmaceuticals in the first quarter worth about $448,000. Institutional investors and hedge funds own 86.17% of the company’s stock.

Shares of IONS stock opened at $38.21 on Friday. Ionis Pharmaceuticals, Inc. has a 12-month low of $34.43 and a 12-month high of $64.37. The company has a quick ratio of 6.67, a current ratio of 6.74 and a debt-to-equity ratio of 1.28. The stock has a 50 day moving average of $39.44. The stock has a market capitalization of $5.39 billion, a PE ratio of -10.82 and a beta of 1.09.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Wednesday, May 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.16). Ionis Pharmaceuticals had a negative return on equity of 41.74% and a negative net margin of 69.63%. The company had revenue of $112.00 million during the quarter, compared to analysts’ expectations of $134.93 million. During the same quarter in the prior year, the business posted ($0.35) EPS. The company’s revenue for the quarter was down 15.8% compared to the same quarter last year. On average, analysts predict that Ionis Pharmaceuticals, Inc. will post -1.69 EPS for the current year.

A number of equities research analysts have weighed in on the stock. Needham & Company LLC cut their price objective on shares of Ionis Pharmaceuticals from $95.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, March 23rd. Piper Sandler cut their price target on shares of Ionis Pharmaceuticals from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, March 22nd. Barclays cut their price target on shares of Ionis Pharmaceuticals from $52.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 23rd. Royal Bank of Canada cut their price target on shares of Ionis Pharmaceuticals from $76.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, March 23rd. Finally, BMO Capital Markets cut their price target on shares of Ionis Pharmaceuticals from $90.00 to $76.00 and set an “outperform” rating on the stock in a report on Tuesday, March 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Ionis Pharmaceuticals has an average rating of “Hold” and a consensus target price of $58.05.

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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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

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