Commerce Bank Has $3.39 Million Stock Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Commerce Bank decreased its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,017 shares of the company’s stock after selling 10,630 shares during the quarter. Commerce Bank’s holdings in Ionis Pharmaceuticals were worth $3,390,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IONS. Aigen Investment Management LP acquired a new position in shares of Ionis Pharmaceuticals during the 4th quarter worth approximately $3,729,000. PNC Financial Services Group Inc. increased its holdings in shares of Ionis Pharmaceuticals by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the company’s stock worth $424,000 after acquiring an additional 202 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ionis Pharmaceuticals during the 4th quarter worth approximately $267,000. Norges Bank acquired a new position in shares of Ionis Pharmaceuticals during the 4th quarter worth approximately $59,288,000. Finally, Nicola Wealth Management LTD. increased its holdings in shares of Ionis Pharmaceuticals by 86.7% during the 4th quarter. Nicola Wealth Management LTD. now owns 56,000 shares of the company’s stock worth $2,833,000 after acquiring an additional 26,000 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Wall Street Analysts Forecast Growth

IONS has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price target on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Oppenheimer boosted their price target on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Wells Fargo & Company reduced their price target on Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Finally, William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $59.54.

Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS opened at $37.28 on Monday. The stock has a fifty day moving average price of $41.38 and a 200-day moving average price of $46.27. The company has a market cap of $5.44 billion, a price-to-earnings ratio of -13.96 and a beta of 0.41. The company has a debt-to-equity ratio of 4.15, a quick ratio of 7.28 and a current ratio of 7.37. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $36.56 and a fifty-two week high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.12. Ionis Pharmaceuticals had a negative return on equity of 107.64% and a negative net margin of 49.49%. The business had revenue of $119.00 million during the quarter, compared to the consensus estimate of $131.42 million. During the same period in the prior year, the company earned ($0.87) EPS. Ionis Pharmaceuticals’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the transaction, the executive vice president now owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 6,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $42.71, for a total value of $256,260.00. Following the completion of the transaction, the director now owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the transaction, the executive vice president now directly owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The disclosure for this sale can be found here. 2.71% of the stock is owned by corporate insiders.

Ionis Pharmaceuticals Company Profile

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 antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.