Cambridge Investment Research Advisors Inc. Invests $669,000 in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Cambridge Investment Research Advisors Inc. acquired a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,877 shares of the company’s stock, valued at approximately $669,000.

Several other institutional investors have also bought and sold shares of the company. NEXT Financial Group Inc raised its stake in shares of Ionis Pharmaceuticals by 6.7% during the 4th quarter. NEXT Financial Group Inc now owns 2,829 shares of the company’s stock valued at $160,000 after buying an additional 178 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Ionis Pharmaceuticals by 0.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 50,115 shares of the company’s stock valued at $2,834,000 after buying an additional 180 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Ionis Pharmaceuticals by 0.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 22,800 shares of the company’s stock valued at $1,289,000 after buying an additional 200 shares during the last quarter. Xponance Inc. raised its stake in shares of Ionis Pharmaceuticals by 3.2% during the 4th quarter. Xponance Inc. now owns 6,780 shares of the company’s stock valued at $383,000 after buying an additional 209 shares during the last quarter. Finally, Icon Wealth Partners LLC raised its stake in shares of Ionis Pharmaceuticals by 5.1% during the 1st quarter. Icon Wealth Partners LLC now owns 5,671 shares of the company’s stock valued at $255,000 after buying an additional 273 shares during the last quarter. 86.17% of the stock is owned by hedge funds and other institutional investors.

IONS has been the subject of a number of recent research reports. TheStreet lowered Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Wednesday, February 24th. Morgan Stanley cut their price target on Ionis Pharmaceuticals from $38.00 to $35.00 and set an “underweight” rating for the company in a research note on Thursday, May 6th. UBS Group upgraded Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and lifted their price target for the company from $33.00 to $37.50 in a research note on Friday, May 7th. Piper Sandler cut their price target on Ionis Pharmaceuticals from $55.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, March 22nd. Finally, Royal Bank of Canada cut their price target on Ionis Pharmaceuticals from $76.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, March 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $58.05.

IONS stock opened at $38.21 on Friday. The company has a current ratio of 6.74, a quick ratio of 6.67 and a debt-to-equity ratio of 1.28. Ionis Pharmaceuticals, Inc. has a 12-month low of $34.43 and a 12-month high of $64.37. The firm has a market cap of $5.39 billion, a PE ratio of -10.82 and a beta of 1.09. The business has a 50-day moving average price of $39.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, May 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.16). Ionis Pharmaceuticals had a negative return on equity of 41.74% and a negative net margin of 69.63%. The firm had revenue of $112.00 million during the quarter, compared to analyst estimates of $134.93 million. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. The company’s quarterly revenue was down 15.8% on a year-over-year basis. As a group, equities research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -1.69 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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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Institutional Ownership by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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