8,977 Shares in Ionis Pharmaceuticals, Inc. $IONS Bought by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the second quarter, according to its most recent filing with the SEC. The firm bought 8,977 shares of the company’s stock, valued at approximately $712,000.

Several other institutional investors have also recently bought and sold shares of IONS. Brown Brothers Harriman & Co. acquired a new position in Ionis Pharmaceuticals during the 4th quarter worth $27,000. Cassaday & Co Wealth Management LLC bought a new stake in Ionis Pharmaceuticals during the first quarter valued at about $30,000. Quarry LP acquired a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at about $38,000. Johnson Financial Group Inc. acquired a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at about $44,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at about $47,000. Institutional investors own 93.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IONS. Canaccord Genuity Group cut their price objective on Ionis Pharmaceuticals from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Leerink Partners raised their target price on Ionis Pharmaceuticals from $122.00 to $129.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Needham & Company LLC dropped their price target on Ionis Pharmaceuticals from $105.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Raymond James Financial set a $87.00 price target on Ionis Pharmaceuticals in a report on Thursday, July 9th. Finally, Barclays reduced their price objective on Ionis Pharmaceuticals from $115.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, July 10th. Seventeen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $94.15.

Ionis Pharmaceuticals Stock Up 1.7%

Shares of IONS opened at $59.74 on Friday. The company has a 50-day simple moving average of $64.20 and a 200-day simple moving average of $72.15. The firm has a market capitalization of $9.93 billion, a P/E ratio of -17.27 and a beta of 0.41. The company has a debt-to-equity ratio of 3.07, a quick ratio of 7.73 and a current ratio of 7.89. Ionis Pharmaceuticals, Inc. has a 52 week low of $41.71 and a 52 week high of $86.74.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, July 29th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.39. Ionis Pharmaceuticals had a negative return on equity of 111.08% and a negative net margin of 64.76%.The business had revenue of $267.95 million for the quarter, compared to the consensus estimate of $189.10 million. During the same period last year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was down 40.7% compared to the same quarter last year. On average, equities research analysts expect that Ionis Pharmaceuticals, Inc. will post -3.57 earnings per share for the current year.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, Director Allene M. Diaz sold 10,111 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $85.42, for a total value of $863,681.62. Following the completion of the sale, the director owned 3,811 shares in the company, valued at approximately $325,535.62. This trade represents a 72.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett P. Monia sold 50,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $80.59, for a total value of $4,029,500.00. Following the sale, the chief executive officer directly owned 245,571 shares in the company, valued at $19,790,566.89. The trade was a 16.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 233,163 shares of company stock worth $18,316,551. 1.81% of the stock is currently owned by corporate insiders.

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.