Cwm LLC Reduces Stock Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Cwm LLC lowered its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 96.2% during the 4th quarter, HoldingsChannel reports. The fund owned 2,197 shares of the company’s stock after selling 55,009 shares during the period. Cwm LLC’s holdings in Ionis Pharmaceuticals were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of Ionis Pharmaceuticals by 92.5% during the third quarter. Wellington Management Group LLP now owns 1,760,625 shares of the company’s stock worth $79,862,000 after acquiring an additional 845,902 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Ionis Pharmaceuticals by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,242,307 shares of the company’s stock worth $56,351,000 after acquiring an additional 43,087 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Ionis Pharmaceuticals during the third quarter worth $48,399,000. TD Asset Management Inc lifted its position in shares of Ionis Pharmaceuticals by 14.5% during the third quarter. TD Asset Management Inc now owns 898,852 shares of the company’s stock worth $40,772,000 after acquiring an additional 113,644 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Ionis Pharmaceuticals by 2.9% during the third quarter. Northern Trust Corp now owns 690,724 shares of the company’s stock worth $31,331,000 after acquiring an additional 19,646 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Trading Up 0.7 %

NASDAQ IONS opened at $42.28 on Tuesday. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of -16.52 and a beta of 0.41. The stock’s 50-day simple moving average is $42.99 and its two-hundred day simple moving average is $46.96. The company has a quick ratio of 5.83, a current ratio of 5.90 and a debt-to-equity ratio of 3.18. Ionis Pharmaceuticals, Inc. has a twelve month low of $34.79 and a twelve month high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.72. The firm had revenue of $325.00 million for the quarter, compared to the consensus estimate of $176.01 million. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The company’s quarterly revenue was up 113.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.37) earnings per share. Research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.76 EPS for the current fiscal year.

Analyst Ratings Changes

IONS has been the topic of several recent research reports. Royal Bank of Canada increased 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. Oppenheimer increased their price objective on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price objective on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Finally, Piper Sandler increased their price objective on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.67.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP Joseph Baroldi sold 4,006 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total value of $166,649.60. Following the transaction, the executive vice president now owns 19,631 shares in the company, valued at $816,649.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.65% of the company’s stock.

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.