ARK Investment Management LLC Buys 23,244 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

ARK Investment Management LLC boosted its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,384,269 shares of the company's stock after buying an additional 23,244 shares during the period. ARK Investment Management LLC owned approximately 0.95% of Ionis Pharmaceuticals worth $55,454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank lifted its holdings in Ionis Pharmaceuticals by 3.1% in the third quarter. Amalgamated Bank now owns 9,957 shares of the company's stock valued at $399,000 after buying an additional 300 shares during the period. Van ECK Associates Corp lifted its holdings in Ionis Pharmaceuticals by 17.4% in the third quarter. Van ECK Associates Corp now owns 59,006 shares of the company's stock valued at $2,267,000 after buying an additional 8,742 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Ionis Pharmaceuticals by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 28,121 shares of the company's stock valued at $1,127,000 after purchasing an additional 10,971 shares during the period. abrdn plc raised its holdings in shares of Ionis Pharmaceuticals by 22.8% during the third quarter. abrdn plc now owns 303,274 shares of the company's stock valued at $12,064,000 after purchasing an additional 56,357 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ionis Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,288 shares of the company's stock valued at $216,000 after purchasing an additional 930 shares during the period. Institutional investors and hedge funds own 93.86% of the company's stock.

Ionis Pharmaceuticals Stock Performance

Shares of Ionis Pharmaceuticals stock traded up $0.73 on Friday, reaching $39.19. 1,019,400 shares of the company traded hands, compared to its average volume of 1,318,118. Ionis Pharmaceuticals, Inc. has a 52 week low of $35.95 and a 52 week high of $54.44. The company has a 50 day moving average of $40.82 and a 200 day moving average of $42.93. The firm has a market capitalization of $5.73 billion, a PE ratio of -16.06 and a beta of 0.39. The company has a debt-to-equity ratio of 4.67, a current ratio of 7.61 and a quick ratio of 7.51.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.95) EPS for the quarter, beating analysts' consensus estimates of ($1.16) by $0.21. The company had revenue of $134.00 million for the quarter, compared to analysts' expectations of $128.99 million. Ionis Pharmaceuticals had a negative net margin of 44.90% and a negative return on equity of 115.66%. Equities analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Leerink Partnrs upgraded shares of Ionis Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 24th. Leerink Partners upgraded shares of Ionis Pharmaceuticals from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $53.00 to $62.00 in a report on Wednesday, July 24th. Royal Bank of Canada reiterated an "outperform" rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Needham & Company LLC restated a "buy" rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday. Finally, Guggenheim lowered their target price on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $60.71.

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.