Rhumbline Advisers Has $5.68 Million Stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Rhumbline Advisers decreased its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 188,216 shares of the company’s stock after selling 3,677 shares during the quarter. Rhumbline Advisers owned about 0.12% of Ionis Pharmaceuticals worth $5,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Ionis Pharmaceuticals by 9.4% during the 4th quarter. Vanguard Group Inc. now owns 16,472,539 shares of the company’s stock worth $575,880,000 after buying an additional 1,416,781 shares during the period. Capital World Investors grew its position in shares of Ionis Pharmaceuticals by 46.5% during the 4th quarter. Capital World Investors now owns 11,465,413 shares of the company’s stock worth $400,831,000 after buying an additional 3,637,041 shares during the period. Orbimed Advisors LLC grew its position in Ionis Pharmaceuticals by 21.2% in the 4th quarter. Orbimed Advisors LLC now owns 2,817,347 shares of the company’s stock valued at $98,494,000 after purchasing an additional 492,900 shares during the period. Geode Capital Management LLC increased its stake in Ionis Pharmaceuticals by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,687,248 shares of the company’s stock valued at $93,976,000 after purchasing an additional 18,890 shares in the last quarter. Finally, Norges Bank bought a new stake in Ionis Pharmaceuticals during the 4th quarter valued at $59,948,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on IONS shares. BMO Capital Markets decreased their price target on shares of Ionis Pharmaceuticals from $60.00 to $45.00 and set a “market perform” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC decreased their price target on shares of Ionis Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Guggenheim decreased their price target on shares of Ionis Pharmaceuticals from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Citigroup decreased their price target on shares of Ionis Pharmaceuticals from $67.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Ionis Pharmaceuticals in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.83.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, Director Michael R. Hayden acquired 15,000 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were acquired at an average cost of $31.86 per share, with a total value of $477,900.00. Following the completion of the acquisition, the director now directly owns 50,219 shares in the company, valued at $1,599,977.34. This trade represents a 42.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.71% of the stock is owned by insiders.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ:IONS opened at $35.62 on Friday. The company’s 50-day moving average is $31.74 and its 200 day moving average is $32.91. The company has a debt-to-equity ratio of 2.12, a quick ratio of 8.82 and a current ratio of 8.47. The company has a market capitalization of $5.67 billion, a P/E ratio of -11.72 and a beta of 0.18. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $23.95 and a fifty-two week high of $52.34.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.93) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.14. The company had revenue of $132.00 million for the quarter, compared to the consensus estimate of $144.31 million. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.98) EPS. On average, equities research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

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 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.