Sumitomo Mitsui Trust Group Inc. Trims Stock Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 9.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,433 shares of the company's stock after selling 14,224 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.09% of Ionis Pharmaceuticals worth $4,297,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC grew its holdings in Ionis Pharmaceuticals by 160.0% during the fourth quarter. Signaturefd LLC now owns 949 shares of the company's stock worth $33,000 after purchasing an additional 584 shares during the period. Huntington National Bank raised its position in shares of Ionis Pharmaceuticals by 193.5% in the fourth quarter. Huntington National Bank now owns 951 shares of the company's stock valued at $33,000 after buying an additional 627 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Ionis Pharmaceuticals by 183.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $36,000 after buying an additional 671 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at approximately $62,000. Finally, Exchange Traded Concepts LLC raised its position in Ionis Pharmaceuticals by 1,722.5% during the first quarter. Exchange Traded Concepts LLC now owns 3,244 shares of the company's stock valued at $98,000 after purchasing an additional 3,066 shares in the last quarter. Institutional investors own 93.86% of the company's stock.

Ionis Pharmaceuticals Stock Performance

Shares of Ionis Pharmaceuticals stock traded down $0.61 during mid-day trading on Friday, hitting $42.98. 1,335,953 shares of the stock were exchanged, compared to its average volume of 1,601,001. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $52.34. The company has a 50-day simple moving average of $35.24 and a 200 day simple moving average of $33.14. The company has a debt-to-equity ratio of 2.63, a quick ratio of 9.62 and a current ratio of 9.66. The company has a market capitalization of $6.84 billion, a P/E ratio of -14.37 and a beta of 0.23.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last posted 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 net margin of 63.65% and a negative return on equity of 91.85%. The firm had revenue of $132.00 million for the quarter, compared to analysts' expectations of $144.31 million. During the same quarter last year, the firm earned ($0.98) EPS. The company's quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Ionis Pharmaceuticals to a "sell" rating in a research report on Tuesday, March 18th. Guggenheim reduced their price objective on shares of Ionis Pharmaceuticals from $65.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. HC Wainwright reissued a "buy" rating and issued a $50.00 price objective on shares of Ionis Pharmaceuticals in a research note on Thursday, June 26th. JPMorgan Chase & Co. increased their price target on Ionis Pharmaceuticals from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Finally, Redburn Atlantic assumed coverage on shares of Ionis Pharmaceuticals in a research report on Monday, March 31st. They set a "neutral" rating and a $39.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.25.

Insider Activity at Ionis Pharmaceuticals

In related news, Director Michael R. Hayden purchased 15,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average price of $31.86 per share, with a total value of $477,900.00. Following the acquisition, the director owned 50,219 shares of the company's stock, valued at $1,599,977.34. This trade represents a 42.59% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

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.