Prospera Financial Services Inc Takes Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Prospera Financial Services Inc purchased a new position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Rating) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,640 shares of the company’s stock, valued at approximately $172,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Glassman Wealth Services boosted its holdings in Ionis Pharmaceuticals by 61.0% during the first quarter. Glassman Wealth Services now owns 681 shares of the company’s stock worth $25,000 after purchasing an additional 258 shares during the last quarter. CWM LLC purchased a new position in Ionis Pharmaceuticals during the fourth quarter worth about $30,000. Point72 Hong Kong Ltd purchased a new position in Ionis Pharmaceuticals during the fourth quarter worth about $36,000. Itau Unibanco Holding S.A. boosted its holdings in Ionis Pharmaceuticals by 125.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 2,804 shares of the company’s stock worth $86,000 after purchasing an additional 1,563 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC purchased a new position in Ionis Pharmaceuticals during the first quarter worth about $203,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Stock Performance

NASDAQ IONS opened at $41.02 on Thursday. The company’s 50 day moving average is $37.09 and its 200-day moving average is $35.98. Ionis Pharmaceuticals, Inc. has a 12-month low of $25.04 and a 12-month high of $44.42. The company has a quick ratio of 9.76, a current ratio of 9.86 and a debt-to-equity ratio of 1.76. The firm has a market cap of $5.82 billion, a P/E ratio of -205.09 and a beta of 0.70.

Ionis Pharmaceuticals (NASDAQ:IONS – Get Rating) last posted its earnings results on Wednesday, May 4th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.22. The business had revenue of $142.00 million for the quarter, compared to analyst estimates of $122.46 million. Ionis Pharmaceuticals had a negative net margin of 0.36% and a negative return on equity of 0.46%. Ionis Pharmaceuticals’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.64) EPS. Sell-side analysts predict that Ionis Pharmaceuticals, Inc. will post -2.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Ionis Pharmaceuticals from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, July 26th. Oppenheimer reiterated an “outperform” rating and issued a $59.00 target price on shares of Ionis Pharmaceuticals in a research note on Monday, July 18th. StockNews.com cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. TheStreet cut shares of Ionis Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Monday, June 6th. Finally, SVB Leerink boosted their target price on shares of Ionis Pharmaceuticals from $26.00 to $27.00 and gave the company a “market perform” rating in a research note on Tuesday, June 21st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $45.30.

Insider Buying and Selling

In related news, Director Joseph Klein III sold 1,333 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $38.24, for a total transaction of $50,973.92. Following the sale, the director now owns 18,791 shares of the company’s stock, valued at approximately $718,567.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.36% of the stock is currently owned by insiders.

About Ionis Pharmaceuticals

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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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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