Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Ionis Pharmaceuticals Inc (NASDAQ:IONS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 44,100 shares of the company’s stock, valued at approximately $2,384,000.
Several other hedge funds also recently made changes to their positions in the business. Huntington National Bank boosted its stake in shares of Ionis Pharmaceuticals by 159.3% in the fourth quarter. Huntington National Bank now owns 638 shares of the company’s stock valued at $34,000 after buying an additional 392 shares in the last quarter. Essex Savings Bank purchased a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at approximately $39,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at approximately $43,000. Daiwa Securities Group Inc. boosted its stake in shares of Ionis Pharmaceuticals by 29.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 890 shares of the company’s stock valued at $48,000 after buying an additional 200 shares in the last quarter. Finally, Portfolio Solutions LLC purchased a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at approximately $54,000. Institutional investors own 85.05% of the company’s stock.
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday. Cantor Fitzgerald assumed coverage on Ionis Pharmaceuticals in a research note on Tuesday, April 9th. They issued a “neutral” rating and a $68.00 price target on the stock. Piper Jaffray Companies set a $75.00 price target on Ionis Pharmaceuticals and gave the company a “neutral” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. lifted their price objective on Ionis Pharmaceuticals from $47.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Finally, ValuEngine raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $66.33.
IONS stock traded down $0.73 during midday trading on Monday, hitting $83.88. 922,720 shares of the stock were exchanged, compared to its average volume of 1,027,495. The stock has a market cap of $11.70 billion, a PE ratio of 28.34, a P/E/G ratio of 256.41 and a beta of 2.42. Ionis Pharmaceuticals Inc has a fifty-two week low of $39.07 and a fifty-two week high of $86.58. The company has a debt-to-equity ratio of 0.53, a quick ratio of 7.85 and a current ratio of 7.88.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, February 27th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $2.46. The firm had revenue of $192.00 million during the quarter, compared to analysts’ expectations of $159.59 million. Ionis Pharmaceuticals had a return on equity of 41.89% and a net margin of 45.64%. Ionis Pharmaceuticals’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. As a group, equities research analysts predict that Ionis Pharmaceuticals Inc will post 0.02 earnings per share for the current year.
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Ionis Pharmaceuticals Company 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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