Charles Schwab Investment Management Inc. Purchases 38,420 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Charles Schwab Investment Management Inc. increased its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,481,440 shares of the company’s stock after acquiring an additional 38,420 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.94% of Ionis Pharmaceuticals worth $51,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IONS. Amalgamated Bank raised its holdings in Ionis Pharmaceuticals by 3.1% during the third quarter. Amalgamated Bank now owns 9,957 shares of the company’s stock worth $399,000 after buying an additional 300 shares during the last quarter. Aigen Investment Management LP acquired a new position in Ionis Pharmaceuticals during the third quarter worth $465,000. Victory Capital Management Inc. raised its holdings in Ionis Pharmaceuticals by 5.9% during the third quarter. Victory Capital Management Inc. now owns 18,350 shares of the company’s stock worth $735,000 after buying an additional 1,020 shares during the last quarter. Nicola Wealth Management LTD. raised its holdings in shares of Ionis Pharmaceuticals by 17.6% in the third quarter. Nicola Wealth Management LTD. now owns 87,000 shares of the company’s stock valued at $3,485,000 after purchasing an additional 13,000 shares during the last quarter. Finally, Nicollet Investment Management Inc. raised its holdings in shares of Ionis Pharmaceuticals by 1.5% in the third quarter. Nicollet Investment Management Inc. now owns 20,402 shares of the company’s stock valued at $817,000 after purchasing an additional 294 shares during the last quarter. 93.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, February 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, February 20th. Piper Sandler lowered their target price on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. JPMorgan Chase & Co. lowered their target price on shares of Ionis Pharmaceuticals from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Citigroup lowered their target price on shares of Ionis Pharmaceuticals from $67.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.56.

Insider Activity

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 7,154 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $32.84, for a total transaction of $234,937.36. Following the completion of the sale, the executive vice president now directly owns 45,670 shares in the company, valued at $1,499,802.80. The trade was a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick R. O’neil sold 1,207 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $32.35, for a total transaction of $39,046.45. Following the sale, the executive vice president now owns 56,245 shares of the company’s stock, valued at approximately $1,819,525.75. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,956 shares of company stock worth $3,608,439. 2.71% of the stock is owned by company insiders.

Ionis Pharmaceuticals Price Performance

IONS stock opened at $32.90 on Friday. The firm has a 50 day moving average of $32.78 and a 200-day moving average of $37.00. The company has a current ratio of 8.47, a quick ratio of 8.82 and a debt-to-equity ratio of 2.12. Ionis Pharmaceuticals, Inc. has a 12 month low of $30.23 and a 12 month high of $52.34. The firm has a market capitalization of $5.23 billion, a P/E ratio of -10.82 and a beta of 0.28.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.46. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. The company had revenue of $227.00 million during the quarter, compared to analyst estimates of $140.97 million. During the same period last year, the business earned $0.12 earnings per share. Ionis Pharmaceuticals’s revenue was down 30.2% compared to the same quarter last year. As a group, sell-side analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Ionis Pharmaceuticals Company Profile

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.