Rhenman & Partners Asset Management AB lessened its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 48.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 158,500 shares of the company's stock after selling 151,500 shares during the period. Rhenman & Partners Asset Management AB owned about 0.10% of Ionis Pharmaceuticals worth $12,539,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Jain Global LLC lifted its position in shares of Ionis Pharmaceuticals by 3,037.4% in the 3rd quarter. Jain Global LLC now owns 225,739 shares of the company's stock worth $14,768,000 after purchasing an additional 218,544 shares during the period. DAVENPORT & Co LLC lifted its position in Ionis Pharmaceuticals by 248.3% during the fourth quarter. DAVENPORT & Co LLC now owns 217,897 shares of the company's stock valued at $17,238,000 after acquiring an additional 155,334 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Ionis Pharmaceuticals by 230.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 878,155 shares of the company's stock valued at $57,449,000 after acquiring an additional 612,362 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Ionis Pharmaceuticals by 161.3% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 155,790 shares of the company's stock valued at $10,192,000 after acquiring an additional 96,164 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Ionis Pharmaceuticals by 548.7% during the fourth quarter. SG Americas Securities LLC now owns 33,409 shares of the company's stock valued at $2,643,000 after acquiring an additional 28,259 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company's stock.
Analyst Upgrades and Downgrades
IONS has been the subject of a number of analyst reports. HC Wainwright reissued a "buy" rating and set a $125.00 target price on shares of Ionis Pharmaceuticals in a research report on Wednesday, May 27th. Canaccord Genuity Group initiated coverage on shares of Ionis Pharmaceuticals in a research report on Monday, April 20th. They set a "buy" rating and a $110.00 target price for the company. Piper Sandler increased their target price on shares of Ionis Pharmaceuticals from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, February 27th. Barclays increased their target price on shares of Ionis Pharmaceuticals from $106.00 to $115.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Finally, Needham & Company LLC increased their target price on shares of Ionis Pharmaceuticals from $103.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $100.90.
Get Our Latest Research Report on IONS
Insider Transactions at Ionis Pharmaceuticals
In other news, EVP Kyle Jenne sold 4,902 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $75.17, for a total value of $368,483.34. Following the sale, the executive vice president owned 23,713 shares in the company, valued at $1,782,506.21. This represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Spencer R. Berthelsen sold 8,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $75.67, for a total transaction of $605,360.00. Following the completion of the sale, the director owned 156,013 shares in the company, valued at $11,805,503.71. The trade was a 4.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 256,100 shares of company stock valued at $18,613,444. 1.81% of the stock is owned by corporate insiders.
Ionis Pharmaceuticals Trading Down 0.7%
NASDAQ IONS opened at $73.28 on Friday. The company has a fifty day simple moving average of $74.94 and a two-hundred day simple moving average of $77.77. The stock has a market cap of $12.11 billion, a P/E ratio of -35.40 and a beta of 0.37. Ionis Pharmaceuticals, Inc. has a 12-month low of $34.78 and a 12-month high of $86.74. The company has a current ratio of 4.10, a quick ratio of 4.09 and a debt-to-equity ratio of 2.75.
Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, topping analysts' consensus estimates of ($0.85) by $0.29. The firm had revenue of $246.09 million for the quarter, compared to analyst estimates of $195.57 million. Ionis Pharmaceuticals had a negative net margin of 30.91% and a negative return on equity of 58.65%. The business's quarterly revenue was up 86.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.93) earnings per share. On average, analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.64 earnings per share for the current year.
About Ionis Pharmaceuticals
(
Free Report)
Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company's proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis' pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.
Since its founding in 1989 by Dr.
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