Brookstone Capital Management Increases Stock Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Brookstone Capital Management raised its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Rating) by 13.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,341 shares of the company’s stock after buying an additional 2,970 shares during the quarter. Brookstone Capital Management’s holdings in Ionis Pharmaceuticals were worth $941,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Glassman Wealth Services raised its position in shares of Ionis Pharmaceuticals by 61.0% in the 1st quarter. Glassman Wealth Services now owns 681 shares of the company’s stock worth $25,000 after purchasing an additional 258 shares during the last quarter. Advisor Group Holdings Inc. raised its position in shares of Ionis Pharmaceuticals by 2.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 19,566 shares of the company’s stock worth $728,000 after purchasing an additional 419 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Ionis Pharmaceuticals by 7.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,366 shares of the company’s stock worth $273,000 after purchasing an additional 492 shares during the last quarter. CWM LLC raised its position in shares of Ionis Pharmaceuticals by 55.6% in the 1st quarter. CWM LLC now owns 1,554 shares of the company’s stock worth $58,000 after purchasing an additional 555 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its position in shares of Ionis Pharmaceuticals by 3.1% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 19,161 shares of the company’s stock worth $710,000 after purchasing an additional 583 shares during the last quarter. Hedge funds and other institutional investors own 79.31% of the company’s stock.

Ionis Pharmaceuticals Trading Down 3.1 %

Ionis Pharmaceuticals stock opened at $45.07 on Thursday. The business has a 50-day simple moving average of $42.74 and a two-hundred day simple moving average of $39.01. The company has a market cap of $6.40 billion, a P/E ratio of -121.81 and a beta of 0.64. Ionis Pharmaceuticals, Inc. has a 52-week low of $25.04 and a 52-week high of $48.82. The company has a quick ratio of 8.11, a current ratio of 8.18 and a debt-to-equity ratio of 2.00.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.13). The company had revenue of $134.00 million for the quarter, compared to the consensus estimate of $142.65 million. Ionis Pharmaceuticals had a negative net margin of 3.18% and a negative return on equity of 4.10%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.57) earnings per share. Analysts predict that Ionis Pharmaceuticals, Inc. will post -2.54 EPS for the current year.

Insider Activity at Ionis Pharmaceuticals

In related news, Director Joseph Klein III sold 1,333 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $38.24, for a total value of $50,973.92. Following the transaction, the director now directly owns 18,791 shares of the company’s stock, valued at approximately $718,567.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on Ionis Pharmaceuticals from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 26th. SVB Leerink lifted their price objective on Ionis Pharmaceuticals from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Tuesday, June 21st. Oppenheimer reiterated an “outperform” rating and issued a $59.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, July 18th. Morgan Stanley upgraded Ionis Pharmaceuticals from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $30.00 to $57.00 in a report on Friday, September 9th. Finally, Citigroup lifted their price objective on Ionis Pharmaceuticals from $26.00 to $28.00 and gave the stock a “sell” rating in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.10.

Ionis Pharmaceuticals Profile

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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.

See Also

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

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