Trexquant Investment LP bought a new stake in shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,900 shares of the company’s stock, valued at approximately $277,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Hanseatic Management Services Inc. acquired a new stake in Ionis Pharmaceuticals during the first quarter valued at $138,000. Soros Fund Management LLC acquired a new stake in Ionis Pharmaceuticals during the fourth quarter valued at $206,000. Capstone Asset Management Co. raised its stake in Ionis Pharmaceuticals by 10.3% in the first quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock valued at $207,000 after buying an additional 480 shares during the last quarter. World Asset Management Inc raised its stake in Ionis Pharmaceuticals by 27.3% in the first quarter. World Asset Management Inc now owns 5,427 shares of the company’s stock valued at $218,000 after buying an additional 1,163 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in Ionis Pharmaceuticals by 2.9% in the first quarter. Raymond James Trust N.A. now owns 5,705 shares of the company’s stock valued at $229,000 after buying an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.
Ionis Pharmaceuticals Inc (IONS) opened at 48.36 on Thursday. The company has a 50-day moving average of $46.00 and a 200-day moving average of $45.34. Ionis Pharmaceuticals Inc has a 12 month low of $20.49 and a 12 month high of $57.00. The company’s market cap is $5.99 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Tuesday, May 9th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.13. Ionis Pharmaceuticals had a negative return on equity of 120.60% and a negative net margin of 77.30%. The company had revenue of $110.30 million during the quarter, compared to analyst estimates of $86.03 million. During the same period last year, the company posted ($0.52) earnings per share. The firm’s quarterly revenue was up 199.2% compared to the same quarter last year. Analysts predict that Ionis Pharmaceuticals Inc will post ($0.39) EPS for the current year.
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IONS has been the subject of several recent research reports. Piper Jaffray Companies set a $51.00 target price on shares of Ionis Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, May 10th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Monday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a research note on Monday, March 6th. BMO Capital Markets reiterated a “buy” rating and set a $59.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, June 2nd. Finally, Vetr upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating and set a $37.67 target price for the company in a research note on Tuesday, March 21st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Ionis Pharmaceuticals currently has an average rating of “Hold” and an average price target of $43.97.
In other news, Chairman Stanley T. Crooke sold 22,000 shares of the firm’s stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $40.69, for a total value of $895,180.00. Following the completion of the sale, the chairman now directly owns 48,014 shares in the company, valued at $1,953,689.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Stanley T. Crooke sold 16,500 shares of the firm’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $47.81, for a total value of $788,865.00. Following the completion of the sale, the chairman now owns 53,014 shares of the company’s stock, valued at $2,534,599.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,220 shares of company stock valued at $2,019,538. 1.86% of the stock is currently owned by corporate insiders.
About Ionis Pharmaceuticals
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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