First Trust Advisors LP Sells 37,249 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

First Trust Advisors LP lowered its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONSFree Report) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,097,730 shares of the company’s stock after selling 37,249 shares during the period. First Trust Advisors LP owned approximately 0.77% of Ionis Pharmaceuticals worth $55,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Pingora Partners LLC bought a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $25,000. GAMMA Investing LLC bought a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners bought a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $34,000. Checchi Capital Advisers LLC bought a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $214,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Ionis Pharmaceuticals during the 3rd quarter valued at about $224,000. Institutional investors own 93.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IONS shares. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, June 3rd. Wells Fargo & Company cut their target price on Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Wolfe Research upgraded Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research note on Wednesday, April 10th. Piper Sandler boosted their target price on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.54.

Get Our Latest Stock Report on IONS

Insider Buying and Selling

In related news, Director Joseph Klein III sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $42.71, for a total transaction of $256,260.00. Following the transaction, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Joseph Baroldi sold 4,006 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 19,631 shares in the company, valued at approximately $816,649.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Klein III sold 6,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $42.71, for a total value of $256,260.00. Following the completion of the sale, the director now owns 16,346 shares of the company’s stock, valued at $698,137.66. The disclosure for this sale can be found here. 2.71% of the stock is owned by insiders.

Ionis Pharmaceuticals Price Performance

IONS stock opened at $38.95 on Friday. The company has a debt-to-equity ratio of 4.15, a current ratio of 7.37 and a quick ratio of 7.28. Ionis Pharmaceuticals, Inc. has a 1-year low of $35.95 and a 1-year high of $54.44. The business’s 50 day simple moving average is $40.49 and its 200 day simple moving average is $45.67.

Ionis Pharmaceuticals (NASDAQ:IONSGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.12. The business had revenue of $119.00 million for the quarter, compared to analyst estimates of $131.42 million. Ionis Pharmaceuticals had a negative return on equity of 107.64% and a negative net margin of 49.49%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.87) EPS. As a group, analysts expect that Ionis Pharmaceuticals, Inc. will post -3.98 EPS for the current fiscal year.

Ionis Pharmaceuticals Company Profile

(Free Report)

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.

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

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