Inceptionr LLC Invests $503,000 in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Inceptionr LLC purchased a new position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 14,390 shares of the company's stock, valued at approximately $503,000.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in Ionis Pharmaceuticals by 17.4% during the third quarter. Van ECK Associates Corp now owns 59,006 shares of the company's stock worth $2,267,000 after acquiring an additional 8,742 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Ionis Pharmaceuticals by 3.1% during the third quarter. Amalgamated Bank now owns 9,957 shares of the company's stock valued at $399,000 after purchasing an additional 300 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth about $40,000. Privium Fund Management B.V. grew its stake in shares of Ionis Pharmaceuticals by 1.4% in the 3rd quarter. Privium Fund Management B.V. now owns 250,744 shares of the company's stock valued at $10,045,000 after buying an additional 3,477 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Ionis Pharmaceuticals in the 3rd quarter valued at about $465,000. Institutional investors and hedge funds own 93.86% of the company's stock.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, Director Michael R. Hayden acquired 5,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $36.22 per share, with a total value of $181,100.00. Following the completion of the purchase, the director now owns 35,219 shares in the company, valued at approximately $1,275,632.18. The trade was a 16.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Patrick R. O'neil sold 1,207 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $32.35, for a total transaction of $39,046.45. Following the completion of the transaction, the executive vice president now directly owns 56,245 shares in the company, valued at approximately $1,819,525.75. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,816 shares of company stock valued at $3,603,914 in the last 90 days. 2.71% of the stock is currently owned by company insiders.

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Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS traded up $0.44 during trading on Wednesday, reaching $33.47. The company's stock had a trading volume of 1,370,143 shares, compared to its average volume of 1,670,614. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of -11.01 and a beta of 0.28. Ionis Pharmaceuticals, Inc. has a 12 month low of $30.23 and a 12 month high of $52.34. The company has a debt-to-equity ratio of 2.12, a quick ratio of 8.82 and a current ratio of 8.47. The firm has a 50 day moving average of $32.81 and a 200-day moving average of $37.02.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.66) EPS for the quarter, beating analysts' consensus estimates of ($1.12) by $0.46. The firm had revenue of $227.00 million for the quarter, compared to analysts' expectations of $140.97 million. Ionis Pharmaceuticals had a negative return on equity of 100.05% and a negative net margin of 64.25%. The business's revenue for the quarter was down 30.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS. Research analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IONS. JPMorgan Chase & Co. cut their price target on Ionis Pharmaceuticals from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Tuesday. Citigroup cut their target price on Ionis Pharmaceuticals from $67.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Needham & Company LLC restated a "buy" rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, February 20th. BMO Capital Markets lowered their price objective on shares of Ionis Pharmaceuticals from $60.00 to $45.00 and set a "market perform" rating on the stock in a report on Thursday, February 20th. Finally, 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, February 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $59.56.

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; 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.