Tennessee Valley Asset Management Partners Takes Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Tennessee Valley Asset Management Partners acquired a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 673 shares of the company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its stake in shares of Ionis Pharmaceuticals by 352.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,598 shares of the company’s stock valued at $840,000 after purchasing an additional 12,928 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Ionis Pharmaceuticals by 271.3% during the fourth quarter. Fifth Third Bancorp now owns 9,282 shares of the company’s stock valued at $470,000 after purchasing an additional 6,782 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at approximately $9,329,000. Legato Capital Management LLC bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at approximately $276,000. Finally, Handelsinvest Investeringsforvaltning bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at approximately $406,000. 93.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Joseph Baroldi sold 4,006 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the completion of the transaction, the executive vice president now owns 19,631 shares of the company’s stock, valued at $816,649.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Brett P. Monia sold 2,285 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.75, for a total transaction of $118,248.75. Following the completion of the transaction, the chief executive officer now owns 151,851 shares of the company’s stock, valued at $7,858,289.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph Baroldi sold 4,006 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total transaction of $166,649.60. Following the transaction, the executive vice president now directly owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The disclosure for this sale can be found here. Insiders sold a total of 51,434 shares of company stock valued at $2,556,127 over the last 90 days. Insiders own 2.65% of the company’s stock.

Ionis Pharmaceuticals Trading Up 1.9 %

NASDAQ IONS opened at $41.84 on Wednesday. The company has a fifty day simple moving average of $43.67 and a two-hundred day simple moving average of $47.30. The stock has a market cap of $6.10 billion, a P/E ratio of -16.34 and a beta of 0.39. Ionis Pharmaceuticals, Inc. has a 12-month low of $34.32 and a 12-month high of $54.44. 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 (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.72. The business had revenue of $325.00 million during the quarter, compared to analysts’ expectations of $176.01 million. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. The business’s quarterly revenue was up 113.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.37) earnings per share. On average, analysts forecast that Ionis Pharmaceuticals, Inc. will post -4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IONS. StockNews.com upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Wolfe Research upgraded 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 note on Wednesday, April 10th. Bank of America upgraded shares of Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $62.00 in a research note on Tuesday, January 2nd. Royal Bank of Canada raised their target price on shares of Ionis Pharmaceuticals from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.08.

About Ionis Pharmaceuticals

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.