Pinnacle Wealth Planning Services Inc. Invests $209,000 in Ionis Pharmaceuticals, Inc. $IONS

Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,284 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its position in Ionis Pharmaceuticals by 14.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 16,175,533 shares of the company’s stock valued at $488,016,000 after acquiring an additional 2,006,334 shares during the last quarter. BVF Inc. IL acquired a new position in shares of Ionis Pharmaceuticals in the 1st quarter valued at about $57,727,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Ionis Pharmaceuticals by 291.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,075,600 shares of the company’s stock valued at $32,451,000 after purchasing an additional 800,600 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Ionis Pharmaceuticals by 72.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company’s stock valued at $19,686,000 after purchasing an additional 274,310 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Ionis Pharmaceuticals by 33.5% during the second quarter. Teacher Retirement System of Texas now owns 668,273 shares of the company’s stock worth $26,403,000 after purchasing an additional 167,822 shares during the period. Institutional investors own 93.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on IONS shares. Citigroup boosted their price target on Ionis Pharmaceuticals from $69.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Cowen set a $99.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, October 30th. Morgan Stanley increased their target price on shares of Ionis Pharmaceuticals from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. HC Wainwright lifted their price target on shares of Ionis Pharmaceuticals from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Guggenheim upped their price objective on shares of Ionis Pharmaceuticals from $90.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.15.

Ionis Pharmaceuticals Stock Performance

IONS opened at $73.12 on Friday. Ionis Pharmaceuticals, Inc. has a 1-year low of $23.95 and a 1-year high of $76.78. The company has a market cap of $11.84 billion, a price-to-earnings ratio of -43.27 and a beta of 0.33. The company’s fifty day moving average price is $69.44 and its two-hundred day moving average price is $50.73. 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 (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.35. Ionis Pharmaceuticals had a negative net margin of 26.45% and a negative return on equity of 45.29%. The firm had revenue of $156.72 million during the quarter, compared to analysts’ expectations of $131.75 million. During the same period last year, the company earned ($0.95) earnings per share. The business’s revenue was up 17.2% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Insider Activity

In related news, Director Joseph H. Wender sold 11,200 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $75.16, for a total transaction of $841,792.00. Following the completion of the sale, the director owned 64,035 shares in the company, valued at approximately $4,812,870.60. This represents a 14.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Richard S. Geary sold 33,038 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $75.72, for a total value of $2,501,637.36. Following the transaction, the executive vice president owned 59,657 shares in the company, valued at approximately $4,517,228.04. This trade represents a 35.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 913,362 shares of company stock worth $59,015,008. Company insiders own 2.60% of the company’s stock.

Ionis Pharmaceuticals 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.