Ionis Pharmaceuticals, Inc. $IONS Holdings Lifted by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey boosted its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,723 shares of the company’s stock after acquiring an additional 2,174 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Ionis Pharmaceuticals were worth $2,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of Ionis Pharmaceuticals by 231.8% in the 2nd quarter. Allworth Financial LP now owns 740 shares of the company’s stock worth $29,000 after purchasing an additional 517 shares during the last quarter. Signaturefd LLC boosted its holdings in Ionis Pharmaceuticals by 45.6% during the first quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock worth $42,000 after buying an additional 433 shares in the last quarter. Parallel Advisors LLC grew its position in Ionis Pharmaceuticals by 151.3% in the second quarter. Parallel Advisors LLC now owns 1,872 shares of the company’s stock worth $74,000 after buying an additional 1,127 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Ionis Pharmaceuticals in the first quarter valued at $60,000. Finally, CWM LLC lifted its position in shares of Ionis Pharmaceuticals by 18.7% during the 1st quarter. CWM LLC now owns 2,435 shares of the company’s stock valued at $73,000 after acquiring an additional 384 shares during the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Richard S. Geary sold 89,249 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $75.11, for a total transaction of $6,703,492.39. Following the sale, the executive vice president directly owned 59,657 shares in the company, valued at approximately $4,480,837.27. The trade was a 59.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brett P. Monia sold 203,814 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $60.32, for a total value of $12,294,060.48. Following the completion of the transaction, the chief executive officer directly owned 180,009 shares of the company’s stock, valued at approximately $10,858,142.88. This trade represents a 53.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 914,789 shares of company stock valued at $59,075,699. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

IONS has been the topic of a number of recent analyst reports. Piper Sandler boosted their target price on Ionis Pharmaceuticals from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Citigroup lifted their price target on Ionis Pharmaceuticals from $69.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. raised shares of Ionis Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $49.00 to $80.00 in a research note on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of Ionis Pharmaceuticals from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $89.00 price target (up previously from $85.00) on shares of Ionis Pharmaceuticals in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.15.

Ionis Pharmaceuticals Stock Down 0.7%

Ionis Pharmaceuticals stock opened at $74.00 on Thursday. The company has a current ratio of 2.87, a quick ratio of 2.86 and a debt-to-equity ratio of 0.99. Ionis Pharmaceuticals, Inc. has a 1-year low of $23.95 and a 1-year high of $76.78. The firm’s fifty day simple moving average is $69.25 and its 200-day simple moving average is $50.58. The company has a market capitalization of $11.99 billion, a P/E ratio of -43.79 and a beta of 0.33.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, October 29th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.15) by $0.35. The company had revenue of $156.72 million for the quarter, compared to analyst estimates of $131.75 million. Ionis Pharmaceuticals had a negative net margin of 26.45% and a negative return on equity of 45.29%. The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the business posted ($0.95) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

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; 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.