Assenagon Asset Management S.A. Invests $221,000 in Ionis Pharmaceuticals Inc (NASDAQ:IONS)

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Assenagon Asset Management S.A. bought a new position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,748 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors also recently modified their holdings of the stock. NEXT Financial Group Inc lifted its position in Ionis Pharmaceuticals by 13.7% during the first quarter. NEXT Financial Group Inc now owns 1,604 shares of the company’s stock valued at $76,000 after purchasing an additional 193 shares during the period. HighTower Advisors LLC lifted its position in Ionis Pharmaceuticals by 2.4% during the first quarter. HighTower Advisors LLC now owns 12,178 shares of the company’s stock valued at $570,000 after purchasing an additional 289 shares during the period. US Bancorp DE lifted its position in Ionis Pharmaceuticals by 14.8% during the first quarter. US Bancorp DE now owns 2,279 shares of the company’s stock valued at $107,000 after purchasing an additional 294 shares during the period. Cornerstone Advisors Inc. lifted its position in Ionis Pharmaceuticals by 107.2% during the first quarter. Cornerstone Advisors Inc. now owns 663 shares of the company’s stock valued at $31,000 after purchasing an additional 343 shares during the period. Finally, ETF Managers Group LLC lifted its position in Ionis Pharmaceuticals by 11.4% during the first quarter. ETF Managers Group LLC now owns 3,395 shares of the company’s stock valued at $164,000 after purchasing an additional 348 shares during the period. Institutional investors own 84.04% of the company’s stock.

A number of research analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Ionis Pharmaceuticals from $71.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Needham & Company LLC reiterated a “buy” rating and issued a $89.00 price target on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 15th. Royal Bank of Canada started coverage on shares of Ionis Pharmaceuticals in a research report on Tuesday, May 12th. They issued an “outperform” rating and a $71.00 price target on the stock. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Oppenheimer decreased their price target on shares of Ionis Pharmaceuticals from $77.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $73.47.

In related news, Chairman Stanley T. Crooke sold 15,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $57.90, for a total transaction of $868,500.00. Following the completion of the transaction, the chairman now directly owns 26,935 shares of the company’s stock, valued at $1,559,536.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Breaux Castleman sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the transaction, the director now directly owns 25,183 shares of the company’s stock, valued at $1,510,980. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock valued at $4,123,750 over the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Shares of NASDAQ IONS opened at $57.56 on Friday. The firm has a fifty day moving average price of $59.93 and a 200-day moving average price of $56.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 9.91 and a quick ratio of 9.83. The stock has a market cap of $8.02 billion, a PE ratio of 52.33 and a beta of 1.65. Ionis Pharmaceuticals Inc has a 1 year low of $39.32 and a 1 year high of $73.09.

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

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

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