UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 427,056 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 619,641 shares of the company's stock after selling 427,056 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.39% of Ionis Pharmaceuticals worth $21,663,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Woodline Partners LP purchased a new stake in Ionis Pharmaceuticals during the fourth quarter valued at about $3,762,000. Vestal Point Capital LP bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at about $20,801,000. Two Sigma Advisers LP grew its stake in shares of Ionis Pharmaceuticals by 1.3% during the fourth quarter. Two Sigma Advisers LP now owns 1,349,211 shares of the company's stock valued at $47,168,000 after buying an additional 16,800 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Ionis Pharmaceuticals by 0.3% during the fourth quarter. Two Sigma Investments LP now owns 921,439 shares of the company's stock valued at $32,214,000 after buying an additional 2,362 shares during the last quarter. Finally, Tema Etfs LLC bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at about $1,987,000. Hedge funds and other institutional investors own 93.86% of the company's stock.

Ionis Pharmaceuticals Stock Up 0.5%

NASDAQ IONS traded up $0.18 during trading hours on Friday, reaching $33.64. 1,654,650 shares of the company's stock traded hands, compared to its average volume of 1,568,891. Ionis Pharmaceuticals, Inc. has a 52-week low of $23.95 and a 52-week high of $52.34. The firm has a market cap of $5.35 billion, a PE ratio of -11.07 and a beta of 0.15. The firm has a 50-day simple moving average of $30.61 and a 200 day simple moving average of $32.82. The company has a debt-to-equity ratio of 2.12, a current ratio of 8.47 and a quick ratio of 8.82.

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

Insiders Place Their Bets

In related news, Director Michael R. Hayden acquired 15,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was purchased at an average cost of $31.86 per share, with a total value of $477,900.00. Following the completion of the acquisition, the director now directly owns 50,219 shares of the company's stock, valued at approximately $1,599,977.34. This trade represents a 42.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IONS. HC Wainwright reaffirmed a "buy" rating and set a $50.00 price objective on shares of Ionis Pharmaceuticals in a research note on Tuesday, May 20th. BMO Capital Markets cut their price target on shares of Ionis Pharmaceuticals from $60.00 to $45.00 and set a "market perform" rating on the stock in a report on Thursday, February 20th. Guggenheim cut their price target on shares of Ionis Pharmaceuticals from $65.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen raised shares of Ionis Pharmaceuticals to a "sell" rating in a report on Tuesday, March 18th. Finally, Citigroup cut their price target on shares of Ionis Pharmaceuticals from $67.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ionis Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $56.67.

Ionis Pharmaceuticals 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.