Motley Fool Asset Management LLC Purchases 83,753 Shares of Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Motley Fool Asset Management initiated a position in Ionis Pharmaceuticals by purchasing 83,753 shares valued at approximately $3.74 million. Institutional investors collectively own 93.86% of the company.
• Analyst sentiment remains broadly positive: 19 analysts rate Ionis a Buy, three rate it Hold, and one rates it Sell, resulting in a consensus “Moderate Buy” rating and an average price target of $89.48.
• Ionis shares opened at $44.39, near the company’s one-year low of $42.08 and below its 50-day and 200-day moving averages of $49.32 and $67.01, respectively.

Motley Fool Asset Management LLC purchased a new stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 83,753 shares of the company's stock, valued at approximately $3,740,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IONS. Alyeska Investment Group L.P. increased its position 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 purchasing an additional 944,766 shares during the last quarter. Groupama Asset Managment boosted its holdings in Ionis Pharmaceuticals by 7.5% in the 1st quarter. Groupama Asset Managment now owns 824,540 shares of the company's stock valued at $61,915,000 after purchasing an additional 57,651 shares during the last quarter. Bank of America Corp DE acquired a new position in Ionis Pharmaceuticals in the 2nd quarter valued at about $62,718,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ionis Pharmaceuticals in the 2nd quarter valued at about $54,253,000. Finally, Eversept Partners LP grew its stake in shares of Ionis Pharmaceuticals by 17.4% in the 1st quarter. Eversept Partners LP now owns 632,100 shares of the company's stock valued at $47,464,000 after buying an additional 93,882 shares during the period. Institutional investors and hedge funds own 93.86% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on IONS shares. Wall Street Zen cut shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. BMO Capital Markets raised shares of Ionis Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $54.00 to $66.00 in a research report on Thursday, October 22nd. JPMorgan Chase & Co. decreased their price objective on Ionis Pharmaceuticals from $76.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, September 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $86.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, September 4th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $85.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, September 24th. Nineteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.48.

Ionis Pharmaceuticals Stock Down 1.1%

Shares of NASDAQ:IONS opened at $44.39 on Friday. 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 firm has a market capitalization of $7.38 billion, a PE ratio of -12.83 and a beta of 0.38. The firm's 50-day moving average is $49.32 and its two-hundred day moving average is $67.01. Ionis Pharmaceuticals, Inc. has a 1 year low of $42.08 and a 1 year high of $86.74.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Shannon Devers sold 1,357 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $43.54, for a total value of $59,083.78. Following the sale, the executive vice president directly owned 17,811 shares of the company's stock, valued at approximately $775,490.94. This represents a 7.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.81% of the company's stock.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company focused on discovering and developing medicines using antisense technology. Its platform is designed to selectively target RNA and regulate the production of disease-related proteins. The company develops therapies for neurological, cardiovascular and metabolic, and rare diseases.

Ionis has developed and commercialized medicines both independently and through collaborations with larger pharmaceutical companies. Its marketed or partnered products include Spinraza (nusinersen) for spinal muscular atrophy, Tegsedi (inotersen) and Wainua (eplontersen) for hereditary transthyretin amyloidosis, and Tryngolza (olezarsen) for familial chylomicronemia syndrome.

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