The Manufacturers Life Insurance Company Buys 31,025 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

The Manufacturers Life Insurance Company raised its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONSFree Report) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 260,702 shares of the company’s stock after purchasing an additional 31,025 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.18% of Ionis Pharmaceuticals worth $13,189,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pingora Partners LLC bought a new stake in Ionis Pharmaceuticals in the 4th quarter valued at $25,000. GAMMA Investing LLC acquired a new position in shares of Ionis Pharmaceuticals in the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Ionis Pharmaceuticals in the 4th quarter valued at $34,000. Checchi Capital Advisers LLC acquired a new position in shares of Ionis Pharmaceuticals in the 4th quarter valued at $214,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Ionis Pharmaceuticals in the 3rd quarter valued at $224,000. 93.86% of the stock is owned by institutional investors.

Ionis Pharmaceuticals Stock Up 2.2 %

Ionis Pharmaceuticals stock opened at $39.79 on Tuesday. The company’s 50 day simple moving average is $40.40 and its 200 day simple moving average is $45.55. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $54.44. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of -14.90 and a beta of 0.35. The company has a debt-to-equity ratio of 4.15, a current ratio of 7.37 and a quick ratio of 7.28.

Ionis Pharmaceuticals (NASDAQ:IONSGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.12. Ionis Pharmaceuticals had a negative net margin of 49.49% and a negative return on equity of 107.64%. The business had revenue of $119.00 million for the quarter, compared to analyst estimates of $131.42 million. During the same quarter last year, the firm earned ($0.87) EPS. Ionis Pharmaceuticals’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.95 EPS for the current year.

Insider Buying and Selling

In related news, EVP Joseph Baroldi sold 4,006 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the transaction, the executive vice president now owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 6,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $42.71, for a total value of $256,260.00. Following the transaction, the director now owns 16,346 shares of the company’s stock, valued at $698,137.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph Baroldi sold 4,006 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the completion of the transaction, the executive vice president now directly owns 19,631 shares in the company, valued at approximately $816,649.60. The disclosure for this sale can be found here. 2.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IONS. Piper Sandler increased their price objective on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research report on Monday, June 3rd. Oppenheimer raised their price objective on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ionis Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $59.54.

Get Our Latest Research Report on Ionis Pharmaceuticals

Ionis Pharmaceuticals Profile

(Free Report)

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 antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.

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

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