Legato Capital Management LLC Takes $276,000 Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Legato Capital Management LLC bought a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONSFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,455 shares of the company’s stock, valued at approximately $276,000.

Other institutional investors also recently made changes to their positions in the company. Quilter Plc bought a new position in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $360,459,000. Comerica Bank bought a new position in Ionis Pharmaceuticals in the 2nd quarter worth approximately $220,000. Peoples Bank KS bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth approximately $39,000. Almanack Investment Partners LLC. bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth approximately $44,000. Finally, Quantbot Technologies LP bought a new position in Ionis Pharmaceuticals in the 2nd quarter worth approximately $44,000. 93.86% of the stock is owned by institutional investors.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ:IONS opened at $43.91 on Tuesday. The company has a current ratio of 5.90, a quick ratio of 5.83 and a debt-to-equity ratio of 3.18. Ionis Pharmaceuticals, Inc. has a 1 year low of $33.32 and a 1 year high of $54.44. The business has a fifty day simple moving average of $46.98 and a 200 day simple moving average of $47.46. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of -17.15 and a beta of 0.40.

Ionis Pharmaceuticals (NASDAQ:IONSGet Free Report) last posted its earnings results on Wednesday, February 21st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.72. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The company had revenue of $325.00 million for the quarter, compared to analyst estimates of $176.01 million. During the same period last year, the company earned ($0.37) earnings per share. The business’s revenue was up 113.8% compared to the same quarter last year. As a group, sell-side analysts predict that Ionis Pharmaceuticals, Inc. will post -3.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IONS shares. Bank of America upgraded Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $52.00 to $62.00 in a research report on Tuesday, January 2nd. Oppenheimer upped their target price on Ionis Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Piper Sandler upped their target price on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada upped their target price on Ionis Pharmaceuticals from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.67.

Read Our Latest Research Report on IONS

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Eugene Schneider sold 8,000 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $53.50, for a total value of $428,000.00. Following the transaction, the executive vice president now directly owns 38,170 shares in the company, valued at $2,042,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Eugene Schneider sold 8,000 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $53.50, for a total transaction of $428,000.00. Following the sale, the executive vice president now directly owns 38,170 shares of the company’s stock, valued at $2,042,095. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brett P. Monia sold 32,059 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $50.42, for a total value of $1,616,414.78. Following the sale, the chief executive officer now directly owns 154,136 shares in the company, valued at $7,771,537.12. The disclosure for this sale can be found here. Insiders have sold a total of 144,259 shares of company stock worth $7,286,556 over the last three months. Corporate insiders own 2.65% of the company’s stock.

Ionis Pharmaceuticals Profile

(Free Report)

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.

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

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