Raymond James Financial Services Advisors Inc. Increases Stake in Ionis Pharmaceuticals Inc (NASDAQ:IONS)

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Raymond James Financial Services Advisors Inc. lifted its stake in shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 2.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,530 shares of the company’s stock after buying an additional 441 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ionis Pharmaceuticals were worth $975,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IONS. Norges Bank purchased a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at about $73,035,000. Rockefeller Capital Management L.P. increased its position in shares of Ionis Pharmaceuticals by 36.9% during the first quarter. Rockefeller Capital Management L.P. now owns 670,138 shares of the company’s stock valued at $31,684,000 after buying an additional 180,487 shares during the period. Swiss National Bank boosted its stake in Ionis Pharmaceuticals by 23.3% during the first quarter. Swiss National Bank now owns 518,759 shares of the company’s stock worth $24,527,000 after acquiring an additional 97,900 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Ionis Pharmaceuticals by 1.1% during the first quarter. Clearbridge Investments LLC now owns 8,034,264 shares of the company’s stock worth $379,860,000 after acquiring an additional 86,688 shares in the last quarter. Finally, Aviva PLC bought a new stake in Ionis Pharmaceuticals during the first quarter worth about $3,581,000. Institutional investors own 84.04% of the company’s stock.

In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $58.33, for a total transaction of $583,300.00. Following the completion of the sale, the chairman now directly owns 26,935 shares of the company’s stock, valued at $1,571,118.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP C Frank Bennett sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $59.77, for a total transaction of $896,550.00. Following the sale, the executive vice president now directly owns 47,364 shares of the company’s stock, valued at $2,830,946.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,000 shares of company stock worth $4,123,750. 2.40% of the stock is owned by insiders.

Several equities research analysts recently commented on IONS shares. BidaskClub lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. William Blair reissued a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, June 10th. Morgan Stanley boosted their price objective on shares of Ionis Pharmaceuticals from $51.00 to $56.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 15th. Oppenheimer dropped their price objective on shares of Ionis Pharmaceuticals from $77.00 to $74.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Finally, Citigroup boosted their price objective on shares of Ionis Pharmaceuticals from $71.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $73.47.

Shares of Ionis Pharmaceuticals stock opened at $57.56 on Friday. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 52.33 and a beta of 1.65. The company’s 50 day moving average is $59.93 and its 200 day moving average is $56.25. Ionis Pharmaceuticals Inc has a twelve month low of $39.32 and a twelve month high of $73.09. The company has a quick ratio of 9.83, a current ratio of 9.91 and a debt-to-equity ratio of 0.51.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.23). The company had revenue of $133.00 million for the quarter, compared to the consensus estimate of $161.59 million. Ionis Pharmaceuticals had a net margin of 16.79% and a return on equity of 12.50%. The firm’s revenue for the quarter was down 55.2% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. Sell-side analysts expect that Ionis Pharmaceuticals Inc will post -0.48 EPS for the current fiscal 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

See Also: Limitations of the P/E Growth ratio

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

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