Shell Asset Management Co. Sells 1,629 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Shell Asset Management Co. trimmed its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Rating) by 12.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,022 shares of the company’s stock after selling 1,629 shares during the quarter. Shell Asset Management Co.’s holdings in Ionis Pharmaceuticals were worth $408,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IONS. Millennium Management LLC raised its position in shares of Ionis Pharmaceuticals by 473.8% during the fourth quarter. Millennium Management LLC now owns 1,623,138 shares of the company’s stock worth $49,392,000 after purchasing an additional 1,340,284 shares during the period. Bellevue Group AG raised its position in shares of Ionis Pharmaceuticals by 10.8% during the fourth quarter. Bellevue Group AG now owns 10,355,123 shares of the company’s stock worth $315,106,000 after purchasing an additional 1,007,197 shares during the period. Sio Capital Management LLC acquired a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth approximately $9,816,000. TD Asset Management Inc. raised its position in shares of Ionis Pharmaceuticals by 76.1% during the fourth quarter. TD Asset Management Inc. now owns 743,164 shares of the company’s stock worth $22,614,000 after purchasing an additional 321,200 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Ionis Pharmaceuticals by 639.4% during the first quarter. Assenagon Asset Management S.A. now owns 357,896 shares of the company’s stock worth $13,256,000 after purchasing an additional 309,495 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 1,333 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $38.24, for a total value of $50,973.92. Following the completion of the transaction, the director now owns 18,791 shares in the company, valued at approximately $718,567.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.36% of the stock is owned by corporate insiders.

Ionis Pharmaceuticals Trading Up 5.5 %

Shares of Ionis Pharmaceuticals stock opened at $43.29 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 9.86 and a quick ratio of 9.76. The firm has a market cap of $6.14 billion, a PE ratio of -216.44 and a beta of 0.70. Ionis Pharmaceuticals, Inc. has a 1 year low of $25.04 and a 1 year high of $44.42. The stock has a fifty day moving average price of $37.22 and a 200-day moving average price of $36.05.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.22. The company had revenue of $142.00 million during the quarter, compared to the consensus estimate of $122.46 million. Ionis Pharmaceuticals had a negative return on equity of 0.46% and a negative net margin of 0.36%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.64) EPS. Equities research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -2.44 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IONS. Stifel Nicolaus upped their target price on Ionis Pharmaceuticals from $31.00 to $33.00 in a research report on Thursday, May 5th. Piper Sandler increased their price target on Ionis Pharmaceuticals from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, July 26th. SVB Leerink increased their price target on Ionis Pharmaceuticals from $26.00 to $27.00 and gave the company a “market perform” rating in a research report on Tuesday, June 21st. StockNews.com lowered Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. Finally, TheStreet lowered Ionis Pharmaceuticals from a “c-” rating to a “d” rating in a research report on Monday, June 6th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.30.

Ionis Pharmaceuticals Company Profile

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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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

Further Reading

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

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