Private Advisor Group LLC Reduces Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Private Advisor Group LLC lowered its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONSFree Report) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,976 shares of the company’s stock after selling 831 shares during the period. Private Advisor Group LLC’s holdings in Ionis Pharmaceuticals were worth $2,080,000 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 company. Wellington Management Group LLP raised its position in Ionis Pharmaceuticals by 162.2% in the fourth quarter. Wellington Management Group LLP now owns 4,616,978 shares of the company’s stock valued at $233,573,000 after purchasing an additional 2,856,353 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Ionis Pharmaceuticals by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,275,319 shares of the company’s stock valued at $64,518,000 after buying an additional 33,012 shares during the period. Norges Bank acquired a new position in Ionis Pharmaceuticals in the fourth quarter valued at about $59,288,000. TD Asset Management Inc boosted its stake in Ionis Pharmaceuticals by 6.5% during the fourth quarter. TD Asset Management Inc now owns 956,852 shares of the company’s stock worth $48,407,000 after buying an additional 58,000 shares during the period. Finally, Groupama Asset Managment acquired a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at about $18,068,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wolfe Research upgraded shares of Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, June 3rd. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. Wells Fargo & Company dropped their target price on Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus increased their price target on shares of Ionis Pharmaceuticals from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.64.

Read Our Latest Research Report on Ionis Pharmaceuticals

Insider Transactions at Ionis Pharmaceuticals

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

Ionis Pharmaceuticals Stock Up 2.5 %

Ionis Pharmaceuticals stock opened at $47.24 on Tuesday. The company has a debt-to-equity ratio of 4.15, a quick ratio of 7.28 and a current ratio of 7.37. The stock’s fifty day moving average is $41.07 and its two-hundred day moving average is $44.67. Ionis Pharmaceuticals, Inc. has a 1-year low of $35.95 and a 1-year high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONSGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.12. The business had revenue of $119.00 million for the quarter, compared to analyst estimates of $131.42 million. Ionis Pharmaceuticals had a negative return on equity of 107.64% and a negative net margin of 49.49%. The business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.87) EPS. On average, equities research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.91 EPS for the current fiscal 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.

See Also

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

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