Envestnet Asset Management Inc. Has $1.34 Million Stock Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Envestnet Asset Management Inc. cut its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Rating) by 9.8% in the fourth quarter, HoldingsChannel reports. The fund owned 35,429 shares of the company’s stock after selling 3,835 shares during the period. Envestnet Asset Management Inc.’s holdings in Ionis Pharmaceuticals were worth $1,338,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in Ionis Pharmaceuticals by 722.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,755 shares of the company’s stock worth $520,000 after acquiring an additional 10,325 shares during the period. Gateway Investment Advisers LLC boosted its stake in Ionis Pharmaceuticals by 1.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 51,174 shares of the company’s stock worth $1,933,000 after acquiring an additional 975 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Ionis Pharmaceuticals by 22.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 153,000 shares of the company’s stock valued at $5,699,000 after purchasing an additional 28,224 shares during the period. Algert Global LLC grew its holdings in Ionis Pharmaceuticals by 144.7% during the third quarter. Algert Global LLC now owns 60,937 shares of the company’s stock valued at $2,695,000 after purchasing an additional 36,037 shares during the period. Finally, Quantamental Technologies LLC bought a new stake in Ionis Pharmaceuticals in the third quarter valued at approximately $305,000. 87.32% of the stock is currently owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Price Performance

NASDAQ:IONS opened at $42.28 on Wednesday. The stock’s 50-day simple moving average is $36.10 and its 200 day simple moving average is $38.03. The company has a debt-to-equity ratio of 2.42, a quick ratio of 9.72 and a current ratio of 9.81. The company has a market cap of $6.05 billion, a P/E ratio of -18.30 and a beta of 0.54. Ionis Pharmaceuticals, Inc. has a 52-week low of $32.69 and a 52-week high of $48.82.

Ionis Pharmaceuticals (NASDAQ:IONS – Get Rating) last announced its earnings results on Wednesday, May 3rd. The company reported ($0.87) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.13. The company had revenue of $131.00 million for the quarter, compared to analyst estimates of $126.88 million. Ionis Pharmaceuticals had a negative return on equity of 57.58% and a negative net margin of 56.85%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.46) earnings per share. As a group, sell-side analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.57 EPS for the current fiscal year.

Analysts Set New Price Targets

IONS has been the subject of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a research report on Thursday, February 23rd. Barclays decreased their price objective on Ionis Pharmaceuticals from $40.00 to $37.00 in a research report on Thursday, May 4th. BMO Capital Markets cut their price target on shares of Ionis Pharmaceuticals from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Thursday, February 23rd. Finally, VNET Group reissued a “maintains” rating on shares of Ionis Pharmaceuticals in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.64.

Ionis Pharmaceuticals Company Profile

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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 segment. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The company was founded by Stanley T.