Ionis Pharmaceuticals, Inc. $IONS Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 9.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,544 shares of the company’s stock after selling 1,495 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ionis Pharmaceuticals were worth $535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 1st quarter worth approximately $60,000. CWM LLC raised its stake in Ionis Pharmaceuticals by 18.7% during the 1st quarter. CWM LLC now owns 2,435 shares of the company’s stock worth $73,000 after acquiring an additional 384 shares in the last quarter. Parallel Advisors LLC lifted its position in Ionis Pharmaceuticals by 151.3% in the second quarter. Parallel Advisors LLC now owns 1,872 shares of the company’s stock valued at $74,000 after acquiring an additional 1,127 shares during the last quarter. Signaturefd LLC boosted its stake in Ionis Pharmaceuticals by 46.9% in the second quarter. Signaturefd LLC now owns 2,030 shares of the company’s stock valued at $80,000 after acquiring an additional 648 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ionis Pharmaceuticals by 8.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,135 shares of the company’s stock worth $185,000 after purchasing an additional 481 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Insider Activity

In other Ionis Pharmaceuticals news, EVP Patrick R. O’neil sold 76,850 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $60.97, for a total value of $4,685,544.50. Following the completion of the transaction, the executive vice president owned 5,655 shares in the company, valued at approximately $344,785.35. This represents a 93.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP C Frank Bennett sold 33,909 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $60.62, for a total transaction of $2,055,563.58. Following the sale, the executive vice president owned 101,570 shares in the company, valued at $6,157,173.40. The trade was a 25.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 913,362 shares of company stock valued at $59,015,008 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Ionis Pharmaceuticals Trading Up 3.2%

NASDAQ IONS opened at $78.52 on Tuesday. The stock has a market capitalization of $12.72 billion, a P/E ratio of -46.46 and a beta of 0.33. Ionis Pharmaceuticals, Inc. has a 52-week low of $23.95 and a 52-week high of $78.79. The firm has a 50-day moving average price of $70.04 and a 200 day moving average price of $51.61. The company has a quick ratio of 2.86, a current ratio of 2.87 and a debt-to-equity ratio of 0.99.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.35. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 26.45%.The company had revenue of $156.72 million for the quarter, compared to analyst estimates of $131.75 million. During the same quarter in the previous year, the company earned ($0.95) EPS. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on IONS shares. The Goldman Sachs Group raised Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their target price for the company from $45.00 to $65.00 in a research report on Friday, September 26th. TD Cowen increased their price objective on Ionis Pharmaceuticals from $59.00 to $99.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Piper Sandler lifted their target price on shares of Ionis Pharmaceuticals from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Oppenheimer upped their price target on shares of Ionis Pharmaceuticals from $84.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Finally, Barclays raised their price objective on shares of Ionis Pharmaceuticals from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell 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 $84.15.

Ionis Pharmaceuticals Company 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.