abrdn plc Has $12.06 Million Stock Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

abrdn plc lifted its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 22.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 303,274 shares of the company's stock after acquiring an additional 56,357 shares during the quarter. abrdn plc owned approximately 0.21% of Ionis Pharmaceuticals worth $12,064,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IONS. TD Asset Management Inc boosted its stake in Ionis Pharmaceuticals by 6.1% in the second quarter. TD Asset Management Inc now owns 952,762 shares of the company's stock valued at $45,409,000 after acquiring an additional 54,400 shares during the last quarter. Candriam S.C.A. boosted its position in shares of Ionis Pharmaceuticals by 4.0% in the 2nd quarter. Candriam S.C.A. now owns 948,266 shares of the company's stock worth $45,192,000 after purchasing an additional 36,369 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Ionis Pharmaceuticals by 12.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 571,763 shares of the company's stock worth $24,786,000 after buying an additional 62,230 shares during the last quarter. Great Point Partners LLC bought a new position in Ionis Pharmaceuticals during the 2nd quarter worth approximately $15,728,000. Finally, International Assets Investment Management LLC grew its holdings in Ionis Pharmaceuticals by 3,287.0% during the third quarter. International Assets Investment Management LLC now owns 328,772 shares of the company's stock valued at $13,171,000 after purchasing an additional 319,065 shares during the period. Institutional investors and hedge funds own 93.86% of the company's stock.

Ionis Pharmaceuticals Stock Performance

Shares of NASDAQ IONS traded up $0.37 during mid-day trading on Friday, reaching $38.76. 739,908 shares of the company were exchanged, compared to its average volume of 1,319,971. The stock has a market capitalization of $5.67 billion, a P/E ratio of -15.38 and a beta of 0.38. The company has a quick ratio of 7.51, a current ratio of 7.61 and a debt-to-equity ratio of 4.67. The company's 50-day simple moving average is $41.78 and its 200-day simple moving average is $43.01. Ionis Pharmaceuticals, Inc. has a twelve month low of $35.95 and a twelve month high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.92) by $0.47. Ionis Pharmaceuticals had a negative return on equity of 115.66% and a negative net margin of 44.90%. The company had revenue of $225.00 million during the quarter, compared to analysts' expectations of $152.35 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business's revenue was up 19.7% on a year-over-year basis. As a group, research analysts predict that Ionis Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Insider Activity at Ionis Pharmaceuticals

In related news, EVP Richard S. Geary sold 2,430 shares of the business's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $48.00, for a total value of $116,640.00. Following the sale, the executive vice president now owns 85,508 shares of the company's stock, valued at $4,104,384. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 2,803 shares of company stock worth $134,402. Corporate insiders own 2.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Leerink Partners raised shares of Ionis Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $53.00 to $62.00 in a research report on Wednesday, July 24th. TD Cowen increased their target price on Ionis Pharmaceuticals from $54.00 to $59.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Barclays raised their target price on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. StockNews.com downgraded shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.28.

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.