Intech Investment Management LLC Takes $760,000 Position in Ionis Pharmaceuticals, Inc. $IONS

Intech Investment Management LLC acquired a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,602 shares of the company’s stock, valued at approximately $760,000.

Several other hedge funds also recently modified their holdings of IONS. Marshall Wace LLP increased its stake in shares of Ionis Pharmaceuticals by 7,219.3% in the 3rd quarter. Marshall Wace LLP now owns 958,829 shares of the company’s stock valued at $62,727,000 after acquiring an additional 945,729 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Ionis Pharmaceuticals by 190.3% in the 3rd quarter. American Century Companies Inc. now owns 1,372,225 shares of the company’s stock valued at $89,771,000 after acquiring an additional 899,476 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at $41,223,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Ionis Pharmaceuticals by 230.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 878,155 shares of the company’s stock valued at $57,449,000 after acquiring an additional 612,362 shares in the last quarter. Finally, Vestal Point Capital LP increased its stake in Ionis Pharmaceuticals by 115.0% during the 3rd quarter. Vestal Point Capital LP now owns 1,075,000 shares of the company’s stock valued at $70,326,000 after purchasing an additional 575,000 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ:IONS opened at $73.54 on Tuesday. The company’s 50-day moving average is $74.94 and its 200 day moving average is $77.81. The company has a debt-to-equity ratio of 2.75, a quick ratio of 4.09 and a current ratio of 4.10. The company has a market capitalization of $12.15 billion, a P/E ratio of -35.53 and a beta of 0.37. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $34.78 and a fifty-two week high of $86.74.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.29. The company had revenue of $246.09 million for the quarter, compared to the consensus estimate of $195.57 million. Ionis Pharmaceuticals had a negative net margin of 30.91% and a negative return on equity of 58.65%. The firm’s quarterly revenue was up 86.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.93) EPS. On average, equities research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IONS. Wall Street Zen upgraded shares of Ionis Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen decreased their price target on shares of Ionis Pharmaceuticals from $110.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Morgan Stanley boosted their price target on shares of Ionis Pharmaceuticals from $95.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Canaccord Genuity Group began coverage on shares of Ionis Pharmaceuticals in a research note on Monday, April 20th. They set a “buy” rating and a $110.00 price target for the company. Finally, Needham & Company LLC boosted their price target on shares of Ionis Pharmaceuticals from $103.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.90.

Insider Buying and Selling

In related news, EVP Shannon L. Devers sold 6,193 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $74.05, for a total value of $458,591.65. Following the transaction, the executive vice president directly owned 16,348 shares of the company’s stock, valued at approximately $1,210,569.40. The trade was a 27.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Eugene Schneider sold 5,812 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $70.97, for a total transaction of $412,477.64. Following the completion of the transaction, the executive vice president directly owned 63,890 shares in the company, valued at $4,534,273.30. This trade represents a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 256,100 shares of company stock worth $18,613,444 in the last ninety days. Corporate insiders own 1.81% of the company’s stock.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.