Brookstone Capital Management Boosts Stock Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Brookstone Capital Management grew its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Rating) by 13.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,341 shares of the company’s stock after buying an additional 2,970 shares during the quarter. Brookstone Capital Management’s holdings in Ionis Pharmaceuticals were worth $941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Glassman Wealth Services increased its position in shares of Ionis Pharmaceuticals by 61.0% in the first quarter. Glassman Wealth Services now owns 681 shares of the company’s stock valued at $25,000 after buying an additional 258 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth approximately $36,000. CWM LLC increased its position in shares of Ionis Pharmaceuticals by 55.6% during the first quarter. CWM LLC now owns 1,554 shares of the company’s stock worth $58,000 after purchasing an additional 555 shares in the last quarter. IndexIQ Advisors LLC purchased a new stake in shares of Ionis Pharmaceuticals during the first quarter worth approximately $61,000. Finally, Itau Unibanco Holding S.A. increased its position in shares of 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 in the last quarter. 79.31% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Stock Performance

Shares of Ionis Pharmaceuticals stock opened at $45.07 on Thursday. Ionis Pharmaceuticals, Inc. has a 52 week low of $25.04 and a 52 week high of $48.82. The business’s fifty day simple moving average is $42.74 and its 200-day simple moving average is $39.01. The firm has a market cap of $6.40 billion, a PE ratio of -121.81 and a beta of 0.64. The company has a quick ratio of 8.11, a current ratio of 8.18 and a debt-to-equity ratio of 2.00.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.13). The firm had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.65 million. Ionis Pharmaceuticals had a negative net margin of 3.18% and a negative return on equity of 4.10%. Ionis Pharmaceuticals’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.57) EPS. Equities analysts forecast that Ionis Pharmaceuticals, Inc. will post -2.54 earnings per share for the current year.

Insider Activity at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 1,333 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was 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 in the company, valued at approximately $718,567.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.36% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley upgraded Ionis Pharmaceuticals from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $30.00 to $57.00 in a research report on Friday, September 9th. SVB Leerink boosted their price target on Ionis Pharmaceuticals from $26.00 to $27.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 21st. TheStreet cut Ionis Pharmaceuticals from a “c-” rating to a “d” rating in a research report on Monday, June 6th. Citigroup boosted their price target on Ionis Pharmaceuticals from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Wednesday, August 10th. Finally, Piper Sandler boosted their price target on Ionis Pharmaceuticals from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.10.

Ionis Pharmaceuticals Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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