JPMorgan Chase & Co. Has $240,000 Position in Ionis Pharmaceuticals Inc (IONS)

JPMorgan Chase & Co. lowered its position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 91.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,456 shares of the company’s stock after selling 56,651 shares during the period. JPMorgan Chase & Co.’s holdings in Ionis Pharmaceuticals were worth $240,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. BB Biotech AG boosted its stake in Ionis Pharmaceuticals by 4.7% during the 1st quarter. BB Biotech AG now owns 8,516,334 shares of the company’s stock valued at $375,400,000 after acquiring an additional 380,000 shares during the last quarter. Wells Fargo & Company MN increased its stake in Ionis Pharmaceuticals by 3.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,142,168 shares of the company’s stock valued at $50,346,000 after buying an additional 38,839 shares during the period. Northern Trust Corp grew its stake in shares of Ionis Pharmaceuticals by 2.3% in the 1st quarter. Northern Trust Corp now owns 600,357 shares of the company’s stock worth $26,464,000 after purchasing an additional 13,375 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Ionis Pharmaceuticals by 6.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 426,874 shares of the company’s stock worth $18,817,000 after buying an additional 24,894 shares during the period. Finally, Scout Investments Inc. boosted its holdings in shares of Ionis Pharmaceuticals by 285.0% in the first quarter. Scout Investments Inc. now owns 329,820 shares of the company’s stock worth $14,538,000 after buying an additional 244,155 shares during the period. 94.12% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ IONS opened at $48.70 on Friday. The stock has a market cap of $6.26 billion, a P/E ratio of 608.75 and a beta of 2.66. The company has a debt-to-equity ratio of 0.76, a quick ratio of 5.33 and a current ratio of 8.38. Ionis Pharmaceuticals Inc has a 12-month low of $39.07 and a 12-month high of $65.51.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.20). The company had revenue of $117.75 million for the quarter, compared to analyst estimates of $128.22 million. Ionis Pharmaceuticals had a negative return on equity of 1.22% and a negative net margin of 7.20%. sell-side analysts forecast that Ionis Pharmaceuticals Inc will post -0.31 earnings per share for the current fiscal year.

In other news, Director Frederick T. Muto sold 15,000 shares of the company’s stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $46.45, for a total value of $696,750.00. Following the completion of the sale, the director now directly owns 22,127 shares of the company’s stock, valued at approximately $1,027,799.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP C Frank Bennett sold 12,500 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $45.00, for a total value of $562,500.00. Following the completion of the sale, the senior vice president now directly owns 19,409 shares of the company’s stock, valued at $873,405. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,656 shares of company stock worth $1,901,087. 2.13% of the stock is owned by corporate insiders.

Several research analysts have commented on the stock. Piper Jaffray Companies set a $50.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Wednesday, July 11th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $52.00 price target for the company in a report on Tuesday, July 10th. ValuEngine raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 23rd. Barclays lowered shares of Ionis Pharmaceuticals from an “equal weight” rating to an “underweight” rating and set a $52.00 price target on the stock. in a research report on Wednesday, June 20th. Finally, Stifel Nicolaus dropped their target price on shares of Ionis Pharmaceuticals to $57.00 and set a “hold” rating on the stock in a research report on Monday, May 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $55.00.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.

Further Reading: Diversification Important in Investing

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

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