Globeflex Capital L P Invests $5.97 Million in Ionis Pharmaceuticals, Inc. $IONS

Globeflex Capital L P bought a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 93,396 shares of the company’s stock, valued at approximately $5,973,000. Globeflex Capital L P owned about 0.06% of Ionis Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Bank of Nova Scotia acquired a new position in Ionis Pharmaceuticals during the second quarter worth approximately $5,435,000. Commerce Bank purchased a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter valued at $926,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter valued at $866,000. Quantbot Technologies LP acquired a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter worth $382,000. Finally, Evolve Private Wealth LLC purchased a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth $845,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael R. Hayden acquired 15,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were bought at an average price of $53.38 per share, for a total transaction of $800,700.00. Following the completion of the purchase, the director directly owned 19,000 shares of the company’s stock, valued at approximately $1,014,220. This trade represents a 375.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Eugene Schneider sold 26,000 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $81.05, for a total transaction of $2,107,300.00. Following the transaction, the executive vice president directly owned 77,114 shares in the company, valued at approximately $6,250,089.70. The trade was a 25.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 233,163 shares of company stock worth $18,316,551 in the last ninety days. 1.81% of the stock is currently owned by company insiders.

Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS opened at $59.74 on Monday. The business’s 50-day moving average is $64.20 and its two-hundred day moving average is $72.08. 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, Inc. has a 12 month low of $41.71 and a 12 month high of $86.74. The firm has a market capitalization of $9.93 billion, a PE ratio of -17.27 and a beta of 0.41.

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

Analysts Set New Price Targets

IONS has been the subject of a number of research reports. Wolfe Research reissued a “peer perform” rating on shares of Ionis Pharmaceuticals in a research report on Thursday, July 16th. TD Cowen restated a “buy” rating and issued a $108.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, June 15th. Canaccord Genuity Group reduced their price objective on Ionis Pharmaceuticals from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Leerink Partners boosted their target price on Ionis Pharmaceuticals from $122.00 to $129.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Finally, Oppenheimer reissued an “outperform” rating and set a $111.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, April 30th. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.15.

Ionis Pharmaceuticals Company Profile

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.