Arizona State Retirement System Has $1.82 Million Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Arizona State Retirement System cut its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,059 shares of the company’s stock after selling 609 shares during the quarter. Arizona State Retirement System’s holdings in Ionis Pharmaceuticals were worth $1,824,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors raised its holdings in Ionis Pharmaceuticals by 21.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,429 shares of the company’s stock valued at $53,000 after acquiring an additional 249 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Ionis Pharmaceuticals by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 62,532 shares of the company’s stock worth $2,836,000 after purchasing an additional 310 shares during the period. Victory Capital Management Inc. lifted its holdings in Ionis Pharmaceuticals by 2.3% during the 3rd quarter. Victory Capital Management Inc. now owns 15,436 shares of the company’s stock worth $700,000 after purchasing an additional 348 shares during the last quarter. Quilter Plc bought a new stake in Ionis Pharmaceuticals in the 1st quarter valued at $360,459,000. Finally, American Century Companies Inc. grew its holdings in Ionis Pharmaceuticals by 3.0% in the 3rd quarter. American Century Companies Inc. now owns 12,982 shares of the company’s stock valued at $589,000 after buying an additional 375 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Eric Swayze sold 10,773 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $52.00, for a total transaction of $560,196.00. Following the sale, the executive vice president now directly owns 32,516 shares in the company, valued at $1,690,832. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Brett P. Monia sold 23,501 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $49.37, for a total value of $1,160,244.37. Following the completion of the sale, the chief executive officer now directly owns 174,138 shares in the company, valued at $8,597,193.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric Swayze sold 10,773 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $52.00, for a total value of $560,196.00. Following the transaction, the executive vice president now directly owns 32,516 shares in the company, valued at $1,690,832. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,734 shares of company stock worth $4,724,226. 2.65% of the stock is currently owned by insiders.

Ionis Pharmaceuticals Stock Down 1.8 %

IONS stock opened at $41.74 on Friday. The stock has a market capitalization of $6.08 billion, a P/E ratio of -16.30 and a beta of 0.39. The company has a current ratio of 5.90, a quick ratio of 5.83 and a debt-to-equity ratio of 3.18. The firm has a 50-day moving average price of $44.74 and a 200-day moving average price of $47.44. Ionis Pharmaceuticals, Inc. has a 12 month low of $34.32 and a 12 month high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, February 21st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.72. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. The firm had revenue of $325.00 million for the quarter, compared to analysts’ expectations of $176.01 million. During the same quarter in the previous year, the firm posted ($0.37) earnings per share. The company’s revenue was up 113.8% on a year-over-year basis. As a group, equities research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IONS. Wolfe Research raised shares of Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research report on Wednesday. Piper Sandler increased their target price on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. StockNews.com upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Stifel Nicolaus increased their price target on Ionis Pharmaceuticals from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, December 18th. Finally, Oppenheimer lifted their price objective on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.08.

Ionis Pharmaceuticals 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.