Virginia Retirement Systems ET AL acquired a new stake in Ionis Pharmaceuticals (NASDAQ:IONS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,800 shares of the company’s stock, valued at approximately $961,000.
A number of other hedge funds and other institutional investors have also modified their holdings of IONS. Farallon Capital Management LLC grew its stake in Ionis Pharmaceuticals by 43.3% in the 4th quarter. Farallon Capital Management LLC now owns 645,000 shares of the company’s stock valued at $32,444,000 after acquiring an additional 195,000 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Ionis Pharmaceuticals by 3,164.1% during the 4th quarter. Two Sigma Investments LP now owns 170,160 shares of the company’s stock worth $8,559,000 after purchasing an additional 164,947 shares during the last quarter. Tocqueville Asset Management L.P. boosted its stake in shares of Ionis Pharmaceuticals by 19.3% during the 4th quarter. Tocqueville Asset Management L.P. now owns 841,724 shares of the company’s stock worth $42,339,000 after purchasing an additional 136,317 shares during the last quarter. Tekla Capital Management LLC acquired a new stake in shares of Ionis Pharmaceuticals during the 4th quarter worth about $6,485,000. Finally, ARK Investment Management LLC boosted its stake in shares of Ionis Pharmaceuticals by 49.9% during the 4th quarter. ARK Investment Management LLC now owns 370,835 shares of the company’s stock worth $18,653,000 after purchasing an additional 123,372 shares during the last quarter. 91.21% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Joseph H. Wender sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $45.31, for a total value of $679,650.00. Following the sale, the director now directly owns 36,649 shares of the company’s stock, valued at $1,660,566.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP C Frank Bennett sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the completion of the sale, the senior vice president now directly owns 31,614 shares in the company, valued at $1,422,630. The disclosure for this sale can be found here. Insiders sold 49,462 shares of company stock worth $2,267,353 over the last three months. Corporate insiders own 2.13% of the company’s stock.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Friday, May 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.10. Ionis Pharmaceuticals had a negative net margin of 2.00% and a negative return on equity of 3.06%. The business had revenue of $144.40 million for the quarter, compared to analysts’ expectations of $144.01 million. During the same period last year, the company earned $0.03 earnings per share. The company’s quarterly revenue was up 24.7% on a year-over-year basis. equities research analysts anticipate that Ionis Pharmaceuticals will post -0.03 EPS for the current year.
Several equities research analysts have issued reports on IONS shares. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, February 10th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $55.00 price target (down from $61.00) on shares of Ionis Pharmaceuticals in a research note on Tuesday, February 20th. Stifel Nicolaus raised their price target on shares of Ionis Pharmaceuticals from $55.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. BMO Capital Markets raised their price target on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Finally, TheStreet cut shares of Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $52.42.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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