Algert Global LLC Grows Position in Ionis Pharmaceuticals, Inc. $IONS

Algert Global LLC grew its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 562.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,281 shares of the company’s stock after purchasing an additional 214,191 shares during the period. Algert Global LLC owned approximately 0.16% of Ionis Pharmaceuticals worth $16,504,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Steigerwald Gordon & Koch Inc. purchased a new position in Ionis Pharmaceuticals in the third quarter valued at approximately $25,000. Golden State Wealth Management LLC grew its stake in Ionis Pharmaceuticals by 198.4% during the third quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock worth $25,000 after buying an additional 250 shares during the period. Mather Group LLC. purchased a new stake in Ionis Pharmaceuticals during the third quarter worth approximately $27,000. Allworth Financial LP increased its position in shares of Ionis Pharmaceuticals by 231.8% in the second quarter. Allworth Financial LP now owns 740 shares of the company’s stock worth $29,000 after acquiring an additional 517 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Ionis Pharmaceuticals in the third quarter worth $44,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Leerink Partners lifted their target price on shares of Ionis Pharmaceuticals from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. TD Cowen reiterated a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, December 3rd. Bank of America raised their price objective on Ionis Pharmaceuticals from $86.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Ionis Pharmaceuticals Stock Performance

Ionis Pharmaceuticals stock opened at $71.19 on Friday. Ionis Pharmaceuticals, Inc. has a 12-month low of $23.95 and a 12-month high of $86.74. The company has a debt-to-equity ratio of 2.76, a current ratio of 3.83 and a quick ratio of 3.81. The company has a market capitalization of $11.76 billion, a price-to-earnings ratio of -29.18 and a beta of 0.31. The firm’s fifty day moving average price is $80.51 and its 200 day moving average price is $74.43.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.18). Ionis Pharmaceuticals had a negative net margin of 40.36% and a negative return on equity of 68.82%. The firm had revenue of $203.33 million during the quarter, compared to analysts’ expectations of $156.07 million. During the same period in the previous year, the company earned ($0.66) earnings per share. The business’s quarterly revenue was down 10.6% on a year-over-year basis. On average, research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Insider Transactions at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Kyle Jenne sold 37,277 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $75.85, for a total transaction of $2,827,460.45. Following the completion of the sale, the executive vice president owned 11,714 shares in the company, valued at $888,506.90. This trade represents a 76.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shannon L. Devers sold 44,199 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $85.08, for a total value of $3,760,450.92. Following the completion of the transaction, the executive vice president directly owned 17,494 shares in the company, valued at approximately $1,488,389.52. The trade was a 71.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 804,850 shares of company stock valued at $63,765,602 in the last three months. 2.60% of the stock is currently owned by company insiders.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.