Eagle Health Investments LP Acquires New Position in Ionis Pharmaceuticals, Inc. $IONS

Eagle Health Investments LP acquired a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 194,577 shares of the company’s stock, valued at approximately $15,428,000. Ionis Pharmaceuticals comprises about 2.6% of Eagle Health Investments LP’s investment portfolio, making the stock its 18th biggest holding. Eagle Health Investments LP owned approximately 0.12% of Ionis Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at approximately $27,000. Cassaday & Co Wealth Management LLC purchased a new position in Ionis Pharmaceuticals in the 1st quarter valued at approximately $30,000. Quarry LP purchased a new position in Ionis Pharmaceuticals in the 3rd quarter valued at approximately $38,000. Hilton Head Capital Partners LLC bought a new stake in Ionis Pharmaceuticals during the 4th quarter valued at $47,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $47,000. Institutional investors own 93.86% of the company’s stock.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, EVP Eugene Schneider sold 26,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $81.05, for a total value of $2,107,300.00. Following the completion of the transaction, the executive vice president owned 77,114 shares of the company’s stock, valued at $6,250,089.70. The trade was a 25.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett P. Monia sold 50,000 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.59, for a total transaction of $4,029,500.00. Following the completion of the transaction, the chief executive officer directly owned 245,571 shares in the company, valued at $19,790,566.89. The trade was a 16.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 233,163 shares of company stock valued at $18,316,551 in the last 90 days. 1.81% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IONS has been the subject of a number of analyst reports. Citigroup cut their price target on Ionis Pharmaceuticals from $115.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research note on Friday, July 17th. Needham & Company LLC cut their target price on Ionis Pharmaceuticals from $105.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Morgan Stanley reduced their target price on Ionis Pharmaceuticals from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, July 10th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Ionis Pharmaceuticals in a research report on Thursday, July 16th. Seventeen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.15.

Ionis Pharmaceuticals Price Performance

Ionis Pharmaceuticals stock opened at $60.80 on Thursday. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of -17.57 and a beta of 0.41. The company has a quick ratio of 7.73, a current ratio of 7.89 and a debt-to-equity ratio of 3.07. The business has a 50-day simple moving average of $64.77 and a 200 day simple moving average of $72.41. Ionis Pharmaceuticals, Inc. has a 52 week low of $41.71 and a 52 week high of $86.74.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.39. The firm had revenue of $267.95 million for the quarter, compared to analysts’ expectations of $189.10 million. Ionis Pharmaceuticals had a negative return on equity of 111.08% and a negative net margin of 64.76%.The company’s revenue was down 40.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 EPS. On average, research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.57 earnings per share for the current fiscal year.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.