Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Acquires 314 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Rating) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,708 shares of the company’s stock after buying an additional 314 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Ionis Pharmaceuticals were worth $208,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IONS. Raymond James Financial Services Advisors Inc. raised its holdings in Ionis Pharmaceuticals by 3.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 50,585 shares of the company’s stock valued at $1,874,000 after buying an additional 1,604 shares during the last quarter. American Century Companies Inc. bought a new position in Ionis Pharmaceuticals in the 1st quarter valued at approximately $207,000. US Bancorp DE increased its position in Ionis Pharmaceuticals by 12.3% during the 1st quarter. US Bancorp DE now owns 21,458 shares of the company’s stock valued at $795,000 after purchasing an additional 2,343 shares during the period. PNC Financial Services Group Inc. increased its position in Ionis Pharmaceuticals by 9.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,662 shares of the company’s stock valued at $358,000 after purchasing an additional 831 shares during the period. Finally, MetLife Investment Management LLC acquired a new stake in Ionis Pharmaceuticals during the 1st quarter valued at approximately $318,000. Institutional investors own 87.32% of the company’s stock.

Ionis Pharmaceuticals Stock Performance

Shares of IONS stock opened at $40.76 on Monday. The company has a market cap of $5.79 billion, a price-to-earnings ratio of -339.64 and a beta of 0.54. Ionis Pharmaceuticals, Inc. has a 52 week low of $28.25 and a 52 week high of $48.82. The company has a quick ratio of 7.52, a current ratio of 7.59 and a debt-to-equity ratio of 2.10. The firm has a 50 day moving average of $39.53 and a 200-day moving average of $41.87.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.41. Ionis Pharmaceuticals had a net margin of 0.91% and a return on equity of 1.18%. The business had revenue of $160.00 million during the quarter, compared to the consensus estimate of $149.48 million. On average, equities analysts forecast that Ionis Pharmaceuticals, Inc. will post -2.49 earnings per share for the current year.

Insider Activity at Ionis Pharmaceuticals

In related news, Director Joseph Klein III sold 2,000 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the sale, the director now owns 16,791 shares of the company’s stock, valued at approximately $671,640. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Joseph Klein III sold 2,000 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the sale, the director now owns 16,791 shares of the company’s stock, valued at approximately $671,640. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brett P. Monia sold 25,066 shares of the firm’s stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $39.49, for a total value of $989,856.34. Following the transaction, the chief executive officer now owns 120,863 shares in the company, valued at $4,772,879.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,977 shares of company stock valued at $1,622,348. 2.36% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on IONS. Morgan Stanley downgraded shares of Ionis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $56.00 to $40.00 in a research report on Wednesday, December 21st. StockNews.com began coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler increased their target price on shares of Ionis Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup increased their target price on shares of Ionis Pharmaceuticals from $28.00 to $31.00 and gave the company a “sell” rating in a research report on Thursday, November 10th. Finally, SVB Leerink decreased their target price on shares of Ionis Pharmaceuticals from $30.00 to $26.00 and set a “market perform” rating for the company in a research report on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.22.

Ionis Pharmaceuticals Company Profile

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Ionis Pharmaceuticals, Inc engages in the development and commercialization of human therapeutic drugs using antisense technology. It operates through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases.

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

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