Wedmont Private Capital Purchases Shares of 5,282 Ionis Pharmaceuticals, Inc. $IONS

Wedmont Private Capital purchased a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,282 shares of the company’s stock, valued at approximately $226,000.

Other hedge funds have also bought and sold shares of the company. Exome Asset Management LLC grew its holdings in Ionis Pharmaceuticals by 121.0% during the first quarter. Exome Asset Management LLC now owns 135,616 shares of the company’s stock valued at $4,092,000 after purchasing an additional 74,249 shares during the period. GAMMA Investing LLC grew its holdings in Ionis Pharmaceuticals by 3,786.5% during the first quarter. GAMMA Investing LLC now owns 28,993 shares of the company’s stock valued at $961,000 after purchasing an additional 28,247 shares during the period. Raymond James Financial Inc. lifted its position in shares of Ionis Pharmaceuticals by 40.8% in the first quarter. Raymond James Financial Inc. now owns 148,690 shares of the company’s stock valued at $4,486,000 after acquiring an additional 43,071 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Ionis Pharmaceuticals by 4.8% in the first quarter. Fifth Third Bancorp now owns 9,989 shares of the company’s stock valued at $301,000 after acquiring an additional 458 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Ionis Pharmaceuticals in the first quarter valued at about $3,747,000. Institutional investors own 93.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. HC Wainwright boosted their price objective on Ionis Pharmaceuticals from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Jefferies Financial Group boosted their price objective on Ionis Pharmaceuticals from $83.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Citigroup boosted their price objective on Ionis Pharmaceuticals from $69.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group boosted their price objective on Ionis Pharmaceuticals from $40.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, September 3rd. Finally, Raymond James Financial boosted their price objective on Ionis Pharmaceuticals from $60.00 to $64.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.88.

Ionis Pharmaceuticals Stock Down 1.2%

Shares of NASDAQ:IONS opened at $61.01 on Monday. Ionis Pharmaceuticals, Inc. has a 52-week low of $23.95 and a 52-week high of $64.71. The stock has a market cap of $9.72 billion, a P/E ratio of -33.16 and a beta of 0.28. The business’s 50 day moving average is $47.72 and its 200 day moving average is $38.47. The company has a quick ratio of 2.86, a current ratio of 2.87 and a debt-to-equity ratio of 0.99.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.51. The company had revenue of $452.00 million for the quarter, compared to analysts’ expectations of $270.90 million. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 28.25%.Ionis Pharmaceuticals’s revenue was up 100.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.45) earnings per share. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current year.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP C Frank Bennett sold 6,000 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $59.60, for a total value of $357,600.00. Following the completion of the sale, the executive vice president owned 82,679 shares of the company’s stock, valued at $4,927,668.40. This trade represents a 6.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph H. Wender sold 11,200 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $60.14, for a total value of $673,568.00. Following the completion of the sale, the director directly owned 108,835 shares of the company’s stock, valued at $6,545,336.90. The trade was a 9.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 492,841 shares of company stock worth $28,595,925. 2.71% of the stock is currently owned by company insiders.

Ionis Pharmaceuticals Company Profile

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.