Eagle Health Investments LP Takes $15.43 Million Position in Ionis Pharmaceuticals, Inc. $IONS

Eagle Health Investments LP acquired a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 194,577 shares of the company’s stock, valued at approximately $15,428,000. Ionis Pharmaceuticals makes up about 2.6% of Eagle Health Investments LP’s holdings, making the stock its 18th largest holding.

Other hedge funds also recently bought and sold shares of the company. Great Lakes Advisors LLC bought a new position in Ionis Pharmaceuticals during the second quarter valued at approximately $5,306,000. Meeder Advisory Services Inc. purchased a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter valued at $607,000. Grandfield & Dodd LLC purchased a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter valued at $2,940,000. Deutsche Bank AG bought a new position in shares of Ionis Pharmaceuticals during the 2nd quarter valued at $13,449,000. Finally, Perigon Wealth Management LLC bought a new position in shares of Ionis Pharmaceuticals during the 2nd quarter valued at $276,000. Institutional investors own 93.86% of the company’s stock.

Insider Activity at Ionis Pharmaceuticals

In related news, CEO Brett P. Monia sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.59, for a total value of $4,029,500.00. Following the sale, the chief executive officer directly owned 245,571 shares of the company’s stock, valued at $19,790,566.89. This trade represents a 16.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Holly B. Kordasiewicz sold 362 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $84.30, for a total value of $30,516.60. Following the transaction, the executive vice president owned 22,096 shares in the company, valued at approximately $1,862,692.80. This represents a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 233,163 shares of company stock valued at $18,316,551 in the last quarter. 1.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IONS has been the subject of several recent research reports. HC Wainwright lowered their price target on shares of Ionis Pharmaceuticals from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Barclays reduced their price objective on Ionis Pharmaceuticals from $115.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, July 10th. Canaccord Genuity Group decreased their price objective on Ionis Pharmaceuticals from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 10th. TD Cowen reissued a “buy” rating and issued a $108.00 target price on shares of Ionis Pharmaceuticals in a research note on Monday, June 15th. Finally, Raymond James Financial set a $87.00 target price on Ionis Pharmaceuticals in a report on Thursday, July 9th. Seventeen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $94.15.

Ionis Pharmaceuticals Trading Up 2.0%

NASDAQ:IONS opened at $60.80 on Thursday. The firm has a market capitalization of $10.10 billion, a P/E ratio of -17.57 and a beta of 0.41. The company has a quick ratio of 7.73, a current ratio of 7.89 and a debt-to-equity ratio of 3.07. The company has a fifty day moving average of $64.77 and a 200 day moving average of $72.41. Ionis Pharmaceuticals, Inc. has a 52 week low of $41.71 and a 52 week high of $86.74.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.39. Ionis Pharmaceuticals had a negative net margin of 64.76% and a negative return on equity of 111.08%. The business had revenue of $267.95 million for the quarter, compared to analyst estimates of $189.10 million. During the same quarter last year, the firm earned $0.70 EPS. The company’s revenue was down 40.7% on a year-over-year basis. On average, research analysts predict that Ionis Pharmaceuticals, Inc. will post -3.57 earnings per share for the current year.

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.