Cullen Frost Bankers Inc. bought a new position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,248 shares of the company’s stock, valued at approximately $101,000.
Several other institutional investors have also recently modified their holdings of IONS. Mackay Shields LLC bought a new stake in Ionis Pharmaceuticals in the fourth quarter valued at $1,818,000. Capital Investment Advisory Services LLC bought a new stake in Ionis Pharmaceuticals in the fourth quarter valued at $91,000. BB Biotech AG boosted its holdings in Ionis Pharmaceuticals by 0.9% in the fourth quarter. BB Biotech AG now owns 8,741,334 shares of the company’s stock valued at $472,557,000 after acquiring an additional 75,000 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in Ionis Pharmaceuticals in the fourth quarter valued at $440,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ionis Pharmaceuticals by 82.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,709 shares of the company’s stock valued at $957,000 after acquiring an additional 8,014 shares in the last quarter. Hedge funds and other institutional investors own 82.72% of the company’s stock.
Shares of IONS stock traded down $0.62 during mid-day trading on Wednesday, reaching $64.42. 1,390,500 shares of the company’s stock traded hands, compared to its average volume of 1,251,282. Ionis Pharmaceuticals Inc has a 12 month low of $40.91 and a 12 month high of $86.58. The stock has a market cap of $9.03 billion, a PE ratio of 21.76 and a beta of 2.31. The company has a current ratio of 9.40, a quick ratio of 9.36 and a debt-to-equity ratio of 0.47.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Thursday, May 9th. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.19. Ionis Pharmaceuticals had a net margin of 47.74% and a return on equity of 44.03%. The firm had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $285.43 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The company’s quarterly revenue was up 106.3% on a year-over-year basis. On average, sell-side analysts forecast that Ionis Pharmaceuticals Inc will post -0.21 earnings per share for the current fiscal year.
Several analysts recently weighed in on the stock. Piper Jaffray Companies set a $75.00 price target on shares of Ionis Pharmaceuticals and gave the company a “neutral” rating in a report on Friday, March 22nd. Cantor Fitzgerald assumed coverage on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. They issued a “neutral” rating and a $68.00 price target on the stock. BMO Capital Markets lifted their price target on shares of Ionis Pharmaceuticals to $96.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Finally, Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Ionis Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $66.44.
In other news, Director B Lynne Parshall sold 8,334 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $75.00, for a total transaction of $625,050.00. Following the sale, the director now owns 61,011 shares in the company, valued at approximately $4,575,825. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frederick T. Muto sold 8,000 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $72.75, for a total value of $582,000.00. Following the completion of the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $1,294,513.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 240,556 shares of company stock worth $19,431,650. Company insiders own 2.40% of the company’s stock.
About Ionis Pharmaceuticals
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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
Further Reading: Liquidity
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