Envestnet Asset Management Inc. Trims Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Envestnet Asset Management Inc. decreased its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Rating) by 55.6% in the 2nd quarter, Holdings Channel reports. The firm owned 40,365 shares of the company’s stock after selling 50,506 shares during the period. Envestnet Asset Management Inc.’s holdings in Ionis Pharmaceuticals were worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Heritage Financial Services LLC purchased a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $33,000. IndexIQ Advisors LLC purchased a new stake in Ionis Pharmaceuticals in the 1st quarter valued at $61,000. Point72 Hong Kong Ltd raised its position in Ionis Pharmaceuticals by 104.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,427 shares of the company’s stock valued at $90,000 after purchasing an additional 1,239 shares during the last quarter. NuWave Investment Management LLC purchased a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $127,000. Finally, Prospera Financial Services Inc purchased a new stake in Ionis Pharmaceuticals in the 1st quarter valued at $172,000. Hedge funds and other institutional investors own 79.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on IONS. Citigroup upped their price target on shares of Ionis Pharmaceuticals from $28.00 to $31.00 and gave the company a “sell” rating in a research report on Thursday, November 10th. Barclays upped their price objective on shares of Ionis Pharmaceuticals to $44.00 in a research report on Tuesday, November 15th. Piper Sandler upped their price objective on shares of Ionis Pharmaceuticals from $58.00 to $60.00 in a research report on Wednesday, November 9th. StockNews.com began coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Morgan Stanley cut their price objective on shares of Ionis Pharmaceuticals from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $46.80.

Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS opened at $43.09 on Monday. The company has a quick ratio of 7.52, a current ratio of 7.59 and a debt-to-equity ratio of 2.10. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $25.04 and a fifty-two week high of $48.82. The stock has a market cap of $6.12 billion, a PE ratio of -359.05 and a beta of 0.55. The firm’s fifty day simple moving average is $44.75 and its 200-day simple moving average is $41.03.

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.

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

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