Allostery Investments LP Invests $2.27 Million in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Allostery Investments LP bought a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 65,000 shares of the company's stock, valued at approximately $2,272,000. Ionis Pharmaceuticals accounts for approximately 2.4% of Allostery Investments LP's portfolio, making the stock its 12th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its position in shares of Ionis Pharmaceuticals by 967.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 141,917 shares of the company's stock worth $4,961,000 after purchasing an additional 128,619 shares in the last quarter. SG Americas Securities LLC raised its stake in Ionis Pharmaceuticals by 222.5% during the 4th quarter. SG Americas Securities LLC now owns 23,927 shares of the company's stock worth $836,000 after buying an additional 16,508 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Ionis Pharmaceuticals by 1.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 21,826 shares of the company's stock worth $763,000 after acquiring an additional 373 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Ionis Pharmaceuticals by 11.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,994 shares of the company's stock valued at $384,000 after acquiring an additional 1,101 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at approximately $829,000. 93.86% of the stock is owned by institutional investors.

Ionis Pharmaceuticals Trading Up 3.3 %

NASDAQ:IONS opened at $31.71 on Friday. The company has a market cap of $5.04 billion, a P/E ratio of -10.43 and a beta of 0.29. Ionis Pharmaceuticals, Inc. has a 1 year low of $23.95 and a 1 year high of $52.34. The company has a debt-to-equity ratio of 2.12, a current ratio of 8.47 and a quick ratio of 8.82. The stock's fifty day moving average price is $30.54 and its two-hundred day moving average price is $33.71.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.14. Ionis Pharmaceuticals had a negative return on equity of 100.05% and a negative net margin of 64.25%. The business had revenue of $132.00 million during the quarter, compared to the consensus estimate of $144.31 million. During the same quarter last year, the company earned ($0.98) EPS. The firm's revenue was up 10.9% compared to the same quarter last year. As a group, analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IONS. StockNews.com raised shares of Ionis Pharmaceuticals to a "sell" rating in a research report on Tuesday, March 18th. HC Wainwright lifted their price objective on shares of Ionis Pharmaceuticals from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday. Citigroup decreased their target price on shares of Ionis Pharmaceuticals from $67.00 to $64.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price objective on Ionis Pharmaceuticals from $47.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.67.

Insider Transactions at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Patrick R. O'neil sold 1,207 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $32.35, for a total value of $39,046.45. Following the transaction, the executive vice president now directly owns 56,245 shares in the company, valued at $1,819,525.75. This represents a 2.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett P. Monia sold 38,843 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $31.65, for a total value of $1,229,380.95. Following the sale, the chief executive officer now owns 180,683 shares of the company's stock, valued at approximately $5,718,616.95. This trade represents a 17.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,035 shares of company stock valued at $1,487,181. 2.71% of the stock is currently owned by company 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.

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