Candriam S.C.A. Buys 310,005 Shares of Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Candriam S.C.A. increased its Ionis Pharmaceuticals stake by 69.7% in the third quarter, adding 310,005 shares to hold 755,024 shares valued at about $33.8 million.
• Institutional investors and hedge funds own 93.86% of Ionis shares; several other investment firms also increased or initiated positions.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $89.48. The stock opened at $39.42, near its one-year low of $38.31.

Candriam S.C.A. raised its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 69.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 755,024 shares of the company's stock after purchasing an additional 310,005 shares during the quarter. Candriam S.C.A. owned approximately 0.45% of Ionis Pharmaceuticals worth $33,835,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IONS. Pictet Asset Management Holding SA boosted its holdings in shares of Ionis Pharmaceuticals by 21.7% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,944,020 shares of the company's stock valued at $87,249,000 after buying an additional 347,022 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in Ionis Pharmaceuticals by 199.7% during the second quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company's stock worth $112,427,000 after buying an additional 944,766 shares during the last quarter. Groupama Asset Managment raised its position in Ionis Pharmaceuticals by 7.5% during the first quarter. Groupama Asset Managment now owns 824,540 shares of the company's stock worth $61,915,000 after acquiring an additional 57,651 shares in the last quarter. Bank of America Corp DE bought a new stake in Ionis Pharmaceuticals during the second quarter worth $62,718,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ionis Pharmaceuticals in the second quarter valued at $54,253,000. Institutional investors and hedge funds own 93.86% of the company's stock.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Shannon Devers sold 1,357 shares of the firm's stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $43.54, for a total transaction of $59,083.78. Following the completion of the sale, the executive vice president owned 17,811 shares in the company, valued at approximately $775,490.94. This trade represents a 7.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IONS shares. Needham & Company LLC reissued a "buy" rating and issued a $86.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, September 4th. Wolfe Research cut shares of Ionis Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 16th. UBS Group assumed coverage on shares of Ionis Pharmaceuticals in a research note on Thursday, October 15th. They issued a "buy" rating and a $88.00 target price for the company. Morgan Stanley cut their target price on shares of Ionis Pharmaceuticals from $110.00 to $104.00 and set an "overweight" rating for the company in a research note on Tuesday, September 8th. Finally, Wall Street Zen lowered Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Nineteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.48.

Ionis Pharmaceuticals Stock Performance

IONS stock opened at $39.42 on Monday. The company has a debt-to-equity ratio of 3.07, a current ratio of 7.89 and a quick ratio of 7.73. The company has a fifty day moving average price of $46.80 and a two-hundred day moving average price of $65.88. Ionis Pharmaceuticals, Inc. has a one year low of $38.31 and a one year high of $86.74. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -11.39 and a beta of 0.43.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals is a biotechnology company that discovers and develops RNA-targeted medicines, with a focus on antisense oligonucleotides. Its medicines are designed to act on RNA and change the production of proteins linked to disease. The company's research and development programs span neurological, cardiovascular, metabolic and rare diseases.

Ionis has developed medicines that it commercializes itself and products advanced or marketed with pharmaceutical partners. Its medicines and partnered products include treatments for conditions such as spinal muscular atrophy and transthyretin amyloidosis.

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