Grandfield & Dodd LLC Has $260,000 Stake in Ionis Pharmaceuticals Inc. (IONS)
Grandfield & Dodd LLC raised its position in shares of Ionis Pharmaceuticals Inc. (NASDAQ:IONS) by 29.9% during the second quarter, Holdings Channel reports. The institutional investor owned 11,184 shares of the company’s stock after buying an additional 2,574 shares during the period. Grandfield & Dodd LLC’s holdings in Ionis Pharmaceuticals were worth $260,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Parametric Risk Advisors LLC acquired a new position in shares of Ionis Pharmaceuticals during the first quarter worth about $106,000. Rockefeller Financial Services Inc. acquired a new position in shares of Ionis Pharmaceuticals during the second quarter worth about $114,000. Opera Trading Capital increased its position in shares of Ionis Pharmaceuticals by 150.0% in the first quarter. Opera Trading Capital now owns 2,892 shares of the company’s stock worth $117,000 after buying an additional 1,735 shares in the last quarter. IBM Retirement Fund increased its position in shares of Ionis Pharmaceuticals by 0.9% in the second quarter. IBM Retirement Fund now owns 12,162 shares of the company’s stock worth $283,000 after buying an additional 110 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Ionis Pharmaceuticals by 0.3% in the first quarter. IFP Advisors Inc now owns 8,113 shares of the company’s stock worth $329,000 after buying an additional 28 shares in the last quarter. 89.58% of the stock is currently owned by institutional investors.
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) traded down 5.83% during trading on Thursday, hitting $34.26. The stock had a trading volume of 3,270,312 shares. Ionis Pharmaceuticals Inc. has a 1-year low of $19.59 and a 1-year high of $65.34. The stock’s 50-day moving average price is $32.66 and its 200-day moving average price is $32.34. The company’s market capitalization is $4.14 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.05. The firm had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. Ionis Pharmaceuticals had a negative net margin of 128.94% and a negative return on equity of 126.88%. Ionis Pharmaceuticals’s quarterly revenue was down 68.0% compared to the same quarter last year. Analysts expect that Ionis Pharmaceuticals Inc. will post ($1.11) earnings per share for the current year.
A number of research analysts have recently issued reports on IONS shares. Piper Jaffray Cos. reissued a “buy” rating and issued a $35.00 price objective on shares of Ionis Pharmaceuticals in a research note on Friday, June 10th. Needham & Company LLC boosted their price objective on Ionis Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Cowen and Company reissued a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, August 3rd. Wells Fargo & Co. reissued a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Sunday, September 11th. Finally, Janney Montgomery Scott started coverage on Ionis Pharmaceuticals in a research note on Wednesday, September 28th. They issued a “buy” rating and a $47.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $42.92.
In other news, COO B Lynne Parshall sold 12,500 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $29.88, for a total transaction of $373,500.00. Following the sale, the chief operating officer now directly owns 25,558 shares in the company, valued at approximately $763,673.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Stanley T. Crooke sold 22,000 shares of the company’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $36.02, for a total transaction of $792,440.00. Following the sale, the chairman now owns 45,029 shares in the company, valued at $1,621,944.58. The disclosure for this sale can be found here. Insiders own 1.86% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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