Ionis Pharmaceuticals Inc (IONS) Stake Lessened by First Allied Advisory Services Inc.

First Allied Advisory Services Inc. lowered its position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 16.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,365 shares of the company’s stock after selling 874 shares during the period. First Allied Advisory Services Inc.’s holdings in Ionis Pharmaceuticals were worth $347,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. California Public Employees Retirement System grew its stake in shares of Ionis Pharmaceuticals by 11.8% in the 1st quarter. California Public Employees Retirement System now owns 210,408 shares of the company’s stock worth $17,079,000 after acquiring an additional 22,285 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter worth $2,019,000. First Interstate Bank bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter worth $34,000. Candriam Luxembourg S.C.A. grew its stake in shares of Ionis Pharmaceuticals by 57.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 393,200 shares of the company’s stock worth $31,917,000 after acquiring an additional 144,000 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Ionis Pharmaceuticals by 40.0% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 140,000 shares of the company’s stock worth $11,364,000 after acquiring an additional 40,000 shares in the last quarter.

Several research firms have recently issued reports on IONS. ValuEngine upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. Piper Jaffray Companies set a $75.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Thursday, April 18th. Morgan Stanley set a $71.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $68.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $66.44.

In related news, Chairman Stanley T. Crooke sold 77,000 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $60.77, for a total transaction of $4,679,290.00. Following the completion of the transaction, the chairman now owns 109,634 shares in the company, valued at $6,662,458.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frederick T. Muto sold 8,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $72.75, for a total transaction of $582,000.00. Following the sale, the director now directly owns 17,794 shares in the company, valued at $1,294,513.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 352,689 shares of company stock valued at $26,516,918. 2.40% of the stock is owned by company insiders.

IONS opened at $67.14 on Friday. The stock has a market cap of $9.62 billion, a P/E ratio of 22.68 and a beta of 2.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 9.40 and a quick ratio of 9.36. Ionis Pharmaceuticals Inc has a fifty-two week low of $40.91 and a fifty-two week high of $86.58.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.19. The company had revenue of $297.00 million during the quarter, compared to analyst estimates of $285.43 million. Ionis Pharmaceuticals had a net margin of 47.74% and a return on equity of 44.03%. The firm’s revenue for the quarter was up 106.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Analysts predict that Ionis Pharmaceuticals Inc will post -0.21 earnings per share for the current year.

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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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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

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