abrdn plc Buys Shares of 136,419 Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

abrdn plc purchased a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 136,419 shares of the company’s stock, valued at approximately $6,901,000. abrdn plc owned about 0.10% of Ionis Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IONS. Tennessee Valley Asset Management Partners purchased a new position in shares of Ionis Pharmaceuticals during the 4th quarter worth $34,000. Peoples Bank KS purchased a new position in Ionis Pharmaceuticals during the 3rd quarter valued at approximately $39,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Ionis Pharmaceuticals by 95.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,670 shares of the company’s stock valued at $166,000 after acquiring an additional 1,795 shares during the last quarter. Mitchell & Pahl Private Wealth LLC purchased a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at $210,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in Ionis Pharmaceuticals during the 3rd quarter valued at about $224,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP Joseph Baroldi sold 4,006 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the transaction, the executive vice president now owns 19,631 shares of the company’s stock, valued at $816,649.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Joseph Baroldi sold 4,006 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total transaction of $166,649.60. Following the sale, the executive vice president now directly owns 19,631 shares in the company, valued at approximately $816,649.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett P. Monia sold 23,501 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $49.37, for a total transaction of $1,160,244.37. Following the completion of the transaction, the chief executive officer now owns 174,138 shares of the company’s stock, valued at approximately $8,597,193.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,699 shares of company stock valued at $2,104,091. 2.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on IONS. Royal Bank of Canada lifted their target price on Ionis Pharmaceuticals from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Wolfe Research upgraded Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Wednesday, April 10th. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. Oppenheimer increased their price objective on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, Piper Sandler boosted their target price on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.08.

Ionis Pharmaceuticals Stock Down 0.6 %

NASDAQ IONS opened at $41.59 on Friday. The stock has a market cap of $6.06 billion, a PE ratio of -16.25 and a beta of 0.39. The business has a 50 day moving average price of $43.33 and a two-hundred day moving average price of $47.19. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $34.32 and a fifty-two week high of $54.44. The company has a quick ratio of 5.83, a current ratio of 5.90 and a debt-to-equity ratio of 3.18.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.72. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The firm had revenue of $325.00 million during the quarter, compared to the consensus estimate of $176.01 million. During the same quarter in the prior year, the business posted ($0.37) earnings per share. Ionis Pharmaceuticals’s revenue for the quarter was up 113.8% on a year-over-year basis. As a group, sell-side analysts predict that Ionis Pharmaceuticals, Inc. will post -3.88 EPS for the current fiscal year.

Ionis Pharmaceuticals Profile

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; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.