Syon Capital LLC Invests $354,000 in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Syon Capital LLC acquired a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,119 shares of the company's stock, valued at approximately $354,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Ionis Pharmaceuticals by 967.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 141,917 shares of the company's stock valued at $4,961,000 after purchasing an additional 128,619 shares during the period. SG Americas Securities LLC grew its holdings in Ionis Pharmaceuticals by 222.5% during the 4th quarter. SG Americas Securities LLC now owns 23,927 shares of the company's stock valued at $836,000 after purchasing an additional 16,508 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Ionis Pharmaceuticals by 1.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 21,826 shares of the company's stock valued at $763,000 after purchasing an additional 373 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Ionis Pharmaceuticals by 11.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,994 shares of the company's stock valued at $384,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Ionis Pharmaceuticals during the 4th quarter valued at $829,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their price target on shares of Ionis Pharmaceuticals from $67.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, February 20th. BMO Capital Markets lowered their price target on shares of Ionis Pharmaceuticals from $60.00 to $45.00 and set a "market perform" rating for the company in a report on Thursday, February 20th. Royal Bank of Canada reissued an "outperform" rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, February 20th. HC Wainwright raised their price objective on shares of Ionis Pharmaceuticals from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ionis Pharmaceuticals from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.67.

Ionis Pharmaceuticals Stock Performance

Shares of Ionis Pharmaceuticals stock traded up $1.09 during trading hours on Thursday, reaching $31.80. The company's stock had a trading volume of 949,856 shares, compared to its average volume of 1,540,330. The stock has a market cap of $5.06 billion, a P/E ratio of -10.50 and a beta of 0.29. The company's 50 day simple moving average is $30.54 and its 200 day simple moving average is $33.76. Ionis Pharmaceuticals, Inc. has a one year low of $23.95 and a one year high of $52.34. The company has a debt-to-equity ratio of 2.12, a quick ratio of 8.82 and a current ratio of 8.47.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.93) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.14. The firm had revenue of $132.00 million for the quarter, compared to the consensus estimate of $144.31 million. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. Ionis Pharmaceuticals's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.98) EPS. As a group, analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Insider Activity at Ionis Pharmaceuticals

In other news, CEO Brett P. Monia sold 13,242 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $32.45, for a total value of $429,702.90. Following the transaction, the chief executive officer now owns 219,526 shares of the company's stock, valued at $7,123,618.70. The trade was a 5.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Patrick R. O'neil sold 1,207 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $32.35, for a total transaction of $39,046.45. Following the completion of the transaction, the executive vice president now directly owns 56,245 shares in the company, valued at $1,819,525.75. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,167 shares of company stock worth $2,010,458 in the last ninety days. 2.71% of the stock is owned by insiders.

About Ionis Pharmaceuticals

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.