US Bancorp DE Trims Stock Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

US Bancorp DE trimmed its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Rating) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,198 shares of the company’s stock after selling 1,125 shares during the quarter. US Bancorp DE’s holdings in Ionis Pharmaceuticals were worth $717,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IONS. Price T Rowe Associates Inc. MD raised its holdings in shares of Ionis Pharmaceuticals by 4.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,056,046 shares of the company’s stock worth $557,375,000 after purchasing an additional 705,586 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Ionis Pharmaceuticals by 10.1% in the 1st quarter. Clearbridge Investments LLC now owns 6,476,033 shares of the company’s stock worth $239,872,000 after purchasing an additional 593,051 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Ionis Pharmaceuticals by 355.7% in the 2nd quarter. Renaissance Technologies LLC now owns 614,814 shares of the company’s stock worth $22,760,000 after purchasing an additional 479,900 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Ionis Pharmaceuticals by 61.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 954,326 shares of the company’s stock valued at $35,348,000 after buying an additional 365,028 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter valued at about $7,342,000. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Price Performance

Shares of IONS opened at $40.76 on Friday. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of -339.64 and a beta of 0.54. The stock has a 50 day moving average of $39.53 and a 200-day moving average of $41.80. The company has a current ratio of 7.59, a quick ratio of 7.52 and a debt-to-equity ratio of 2.10. Ionis Pharmaceuticals, Inc. has a 52 week low of $28.25 and a 52 week high of $48.82.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.41. The business had revenue of $160.00 million for the quarter, compared to the consensus estimate of $149.48 million. Ionis Pharmaceuticals had a return on equity of 1.18% and a net margin of 0.91%. As a group, analysts forecast that Ionis Pharmaceuticals, Inc. will post -2.49 EPS for the current year.

Analysts Set New Price Targets

IONS has been the topic of several analyst reports. Citigroup raised their target price on Ionis Pharmaceuticals from $28.00 to $31.00 and gave the company a “sell” rating in a report on Thursday, November 10th. Barclays raised their target price on Ionis Pharmaceuticals to $44.00 in a report on Tuesday, November 15th. StockNews.com began coverage on Ionis Pharmaceuticals in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley lowered Ionis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $56.00 to $40.00 in a research note on Wednesday, December 21st. Finally, SVB Leerink lowered their price objective on Ionis Pharmaceuticals from $30.00 to $26.00 and set a “market perform” rating for the company in a research note on Thursday, November 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.22.

Insider Buying and Selling

In related news, CEO Brett P. Monia sold 25,066 shares of the firm’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $39.49, for a total value of $989,856.34. Following the sale, the chief executive officer now owns 120,863 shares of the company’s stock, valued at approximately $4,772,879.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ionis Pharmaceuticals news, CFO Elizabeth L. Hougen sold 8,280 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $39.70, for a total transaction of $328,716.00. Following the sale, the chief financial officer now owns 73,435 shares of the company’s stock, valued at approximately $2,915,369.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brett P. Monia sold 25,066 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $39.49, for a total value of $989,856.34. Following the sale, the chief executive officer now directly owns 120,863 shares in the company, valued at approximately $4,772,879.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,977 shares of company stock valued at $1,622,348. Insiders own 2.36% of the company’s stock.

About Ionis Pharmaceuticals

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Ionis Pharmaceuticals, Inc engages in the development and commercialization of human therapeutic drugs using antisense technology. It operates through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases.

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

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