Federated Hermes Inc. increased its position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 545.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,235 shares of the company’s stock after buying an additional 49,217 shares during the quarter. Federated Hermes Inc.’s holdings in Ionis Pharmaceuticals were worth $2,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Impact Advisors LLC grew its holdings in Ionis Pharmaceuticals by 8.0% during the 4th quarter. Capital Impact Advisors LLC now owns 67,433 shares of the company’s stock worth $4,074,000 after acquiring an additional 4,999 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in shares of Ionis Pharmaceuticals by 17.6% during the fourth quarter. AustralianSuper Pty Ltd now owns 62,484 shares of the company’s stock valued at $3,775,000 after acquiring an additional 9,336 shares during the last quarter. Credit Suisse AG lifted its holdings in shares of Ionis Pharmaceuticals by 18.3% during the fourth quarter. Credit Suisse AG now owns 126,433 shares of the company’s stock worth $7,637,000 after purchasing an additional 19,558 shares during the period. Norges Bank bought a new stake in shares of Ionis Pharmaceuticals in the fourth quarter worth $73,035,000. Finally, KBC Group NV increased its holdings in Ionis Pharmaceuticals by 3.0% in the fourth quarter. KBC Group NV now owns 9,875 shares of the company’s stock valued at $597,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.
In other news, Chairman Stanley T. Crooke sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $47.00, for a total transaction of $705,000.00. Following the completion of the sale, the chairman now owns 41,935 shares in the company, valued at $1,970,945. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.
A number of equities research analysts have commented on IONS shares. BidaskClub upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, April 23rd. Cantor Fitzgerald reduced their target price on Ionis Pharmaceuticals from $65.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Citigroup raised their price target on shares of Ionis Pharmaceuticals from $71.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Piper Sandler dropped their price target on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $89.00 price objective on shares of Ionis Pharmaceuticals in a research report on Wednesday, May 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $73.13.
Shares of NASDAQ IONS opened at $56.51 on Friday. The firm has a market capitalization of $8.16 billion, a P/E ratio of 51.37 and a beta of 1.67. The firm’s 50-day moving average price is $55.75 and its 200-day moving average price is $56.89. The company has a current ratio of 9.91, a quick ratio of 9.83 and a debt-to-equity ratio of 0.51. Ionis Pharmaceuticals Inc has a 1-year low of $39.32 and a 1-year high of $73.09.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Wednesday, May 6th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.23). Ionis Pharmaceuticals had a net margin of 16.79% and a return on equity of 12.50%. The firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $161.59 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. The business’s quarterly revenue was down 55.2% on a year-over-year basis. Equities research analysts forecast that Ionis Pharmaceuticals Inc will post -0.48 EPS for the current year.
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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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