Van ECK Associates Corp Boosts Stock Holdings in Ionis Pharmaceuticals, Inc. $IONS

Van ECK Associates Corp grew its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 83.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,396 shares of the company’s stock after purchasing an additional 28,891 shares during the period. Van ECK Associates Corp’s holdings in Ionis Pharmaceuticals were worth $5,027,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Brown Brothers Harriman & Co. bought a new position in Ionis Pharmaceuticals in the 4th quarter worth approximately $27,000. Cassaday & Co Wealth Management LLC bought a new stake in Ionis Pharmaceuticals during the 1st quarter valued at $30,000. Allworth Financial LP purchased a new stake in shares of Ionis Pharmaceuticals during the second quarter worth $41,000. Silvant Capital Management LLC purchased a new stake in shares of Ionis Pharmaceuticals during the second quarter worth $43,000. Finally, Quarry LP bought a new position in shares of Ionis Pharmaceuticals in the third quarter worth $38,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Stock Up 2.4%

IONS opened at $61.33 on Thursday. The firm has a market capitalization of $10.19 billion, a P/E ratio of -17.73 and a beta of 0.42. Ionis Pharmaceuticals, Inc. has a one year low of $50.01 and a one year high of $86.74. The company has a fifty day moving average price of $62.12 and a 200-day moving average price of $70.80. The company has a debt-to-equity ratio of 3.07, a current ratio of 7.89 and a quick ratio of 7.73.

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

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.59, for a total value of $4,029,500.00. Following the sale, the chief executive officer owned 245,571 shares of the company’s stock, valued at $19,790,566.89. This trade represents a 16.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Eugene Schneider sold 26,000 shares of Ionis Pharmaceuticals stock in a transaction dated 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 sale, the executive vice president owned 77,114 shares of the company’s stock, valued at approximately $6,250,089.70. This trade represents a 25.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 225,163 shares of company stock worth $17,711,191. 1.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IONS. Canaccord Genuity Group reduced their price target on Ionis Pharmaceuticals from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Royal Bank Of Canada cut their target price on Ionis Pharmaceuticals from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Wall Street Zen lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Guggenheim decreased their price target on Ionis Pharmaceuticals from $106.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Finally, TD Cowen reissued a “buy” rating and issued a $108.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, June 15th. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.15.

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.