Smith Asset Management Group LP bought a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 223,980 shares of the company’s stock, valued at approximately $11,394,000.

A number of other large investors have also recently added to or reduced their stakes in IONS. Nomura Holdings Inc. boosted its stake in Ionis Pharmaceuticals by 105.7% in the first quarter. Nomura Holdings Inc. now owns 103,933 shares of the company’s stock valued at $4,179,000 after buying an additional 53,395 shares during the last quarter. Wellington Management Group LLP boosted its stake in Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock valued at $376,295,000 after buying an additional 3,364,621 shares during the last quarter. Creative Planning boosted its stake in Ionis Pharmaceuticals by 5.7% in the first quarter. Creative Planning now owns 26,856 shares of the company’s stock valued at $1,080,000 after buying an additional 1,442 shares during the last quarter. Credit Suisse AG boosted its stake in Ionis Pharmaceuticals by 79.2% in the first quarter. Credit Suisse AG now owns 385,145 shares of the company’s stock valued at $15,483,000 after buying an additional 170,192 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Ionis Pharmaceuticals by 19.0% in the first quarter. Pacer Advisors Inc. now owns 13,037 shares of the company’s stock valued at $524,000 after buying an additional 2,085 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Ionis Pharmaceuticals, Inc. (IONS) opened at 46.76 on Friday. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 224.81 and a beta of 3.14. The company’s 50 day moving average price is $52.52 and its 200-day moving average price is $46.92. Ionis Pharmaceuticals, Inc. has a 12-month low of $24.58 and a 12-month high of $60.01.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.03. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The company had revenue of $104.15 million during the quarter, compared to the consensus estimate of $93.29 million. During the same quarter in the prior year, the business earned ($0.47) EPS. The firm’s revenue for the quarter was up 170.7% compared to the same quarter last year. On average, equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post ($0.02) earnings per share for the current fiscal year.

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IONS has been the topic of several research reports. Leerink Swann restated an “outperform” rating and issued a $45.00 target price (down previously from $47.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Monday, July 31st. TheStreet upgraded Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research note on Wednesday, July 5th. BMO Capital Markets restated a “buy” rating and issued a $59.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, June 2nd. Finally, Piper Jaffray Companies set a $51.00 target price on Ionis Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, May 10th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $47.13.

In related news, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were bought at an average price of $8.00 per share, for a total transaction of $25,000,000.00. Following the completion of the acquisition, the insider now directly owns 28,884,540 shares of the company’s stock, valued at $231,076,320. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP C Frank Bennett sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.29, for a total value of $592,900.00. Following the sale, the senior vice president now owns 25,041 shares in the company, valued at $1,484,680.89. The disclosure for this sale can be found here. Insiders sold 54,379 shares of company stock worth $2,946,052 in the last 90 days. Corporate insiders own 1.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.

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

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