Principal Financial Group Inc. Sells 3,512 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Principal Financial Group Inc. lessened its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONSFree Report) by 10.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,139 shares of the company’s stock after selling 3,512 shares during the period. Principal Financial Group Inc.’s holdings in Ionis Pharmaceuticals were worth $1,575,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IONS. GAMMA Investing LLC bought a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners bought a new position in shares of Ionis Pharmaceuticals in the 4th quarter worth $34,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $224,000. M&T Bank Corp grew its position in Ionis Pharmaceuticals by 7.8% in the fourth quarter. M&T Bank Corp now owns 5,188 shares of the company’s stock worth $263,000 after acquiring an additional 376 shares in the last quarter. Finally, Legato Capital Management LLC bought a new position in Ionis Pharmaceuticals in the fourth quarter valued at $276,000. Institutional investors own 93.86% of the company’s stock.

Insider Activity

In related news, EVP Joseph Baroldi sold 4,006 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the transaction, the executive vice president now directly owns 19,631 shares of the company’s stock, valued at $816,649.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ionis Pharmaceuticals news, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction that occurred 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 owns 19,631 shares in the company, valued at approximately $816,649.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Klein III sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $42.71, for a total value of $256,260.00. Following the completion of the transaction, the director now owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The disclosure for this sale can be found here. Insiders own 2.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IONS shares. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, May 8th. StockNews.com raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Piper Sandler upped their price objective on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Wells Fargo & Company decreased their target price on shares of Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Finally, Wolfe Research raised shares of Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.54.

View Our Latest Report on Ionis Pharmaceuticals

Ionis Pharmaceuticals Trading Up 2.8 %

NASDAQ IONS opened at $37.57 on Friday. The stock has a market cap of $5.48 billion, a P/E ratio of -14.07 and a beta of 0.41. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $54.44. The stock has a 50 day simple moving average of $40.84 and a two-hundred day simple moving average of $45.92. The company has a debt-to-equity ratio of 4.15, a quick ratio of 7.28 and a current ratio of 7.37.

Ionis Pharmaceuticals (NASDAQ:IONSGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.12. Ionis Pharmaceuticals had a negative net margin of 49.49% and a negative return on equity of 107.64%. The business had revenue of $119.00 million for the quarter, compared to analysts’ expectations of $131.42 million. During the same quarter in the previous year, the business posted ($0.87) earnings per share. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.98 earnings per share for the current year.

Ionis Pharmaceuticals Profile

(Free Report)

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.

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

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