Sit Investment Associates Inc. lowered its position in Ionis Pharmaceuticals Inc. (NASDAQ:IONS) by 22.0% during the second quarter, Holdings Channel reports. The firm owned 30,125 shares of the company’s stock after selling 8,500 shares during the period. Sit Investment Associates Inc.’s holdings in Ionis Pharmaceuticals were worth $702,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of IONS. State Street Corp boosted its stake in Ionis Pharmaceuticals by 15.7% in the first quarter. State Street Corp now owns 3,037,388 shares of the company’s stock worth $123,010,000 after buying an additional 412,515 shares during the period. Altrinsic Global Advisors LLC boosted its stake in Ionis Pharmaceuticals by 197.4% in the first quarter. Altrinsic Global Advisors LLC now owns 617,886 shares of the company’s stock worth $25,024,000 after buying an additional 410,129 shares during the period. Alps Advisors Inc. purchased a new stake in Ionis Pharmaceuticals during the second quarter worth approximately $3,952,000. BlackRock Fund Advisors boosted its stake in Ionis Pharmaceuticals by 5.8% in the first quarter. BlackRock Fund Advisors now owns 2,754,474 shares of the company’s stock worth $111,556,000 after buying an additional 149,937 shares during the period. Finally, Bellevue Group AG purchased a new stake in Ionis Pharmaceuticals during the first quarter worth approximately $5,589,000. Institutional investors and hedge funds own 89.58% of the company’s stock.
Shares of Ionis Pharmaceuticals Inc. (NASDAQ:IONS) traded down 1.37% during midday trading on Thursday, hitting $30.23. The stock had a trading volume of 1,384,919 shares. The company’s market cap is $3.66 billion. The firm has a 50 day moving average of $32.54 and a 200-day moving average of $32.12. Ionis Pharmaceuticals Inc. has a one year low of $19.59 and a one year high of $65.34.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.05. Ionis Pharmaceuticals had a negative net margin of 128.94% and a negative return on equity of 126.88%. The firm had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. The company’s quarterly revenue was down 68.0% compared to the same quarter last year. On average, analysts forecast that Ionis Pharmaceuticals Inc. will post ($1.11) earnings per share for the current fiscal year.
A number of analysts have recently commented on IONS shares. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, July 14th. Wells Fargo & Co. reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Friday, August 19th. Janney Montgomery Scott started coverage on Ionis Pharmaceuticals in a research report on Wednesday, September 28th. They set a “buy” rating and a $47.00 target price on the stock. Piper Jaffray Cos. lifted their target price on Ionis Pharmaceuticals from $36.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 10th. Finally, Zacks Investment Research cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Ionis Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $42.92.
In other Ionis Pharmaceuticals news, COO B Lynne Parshall sold 12,500 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $29.88, for a total value of $373,500.00. Following the transaction, the chief operating officer now owns 25,558 shares of the company’s stock, valued at $763,673.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Stanley T. Crooke sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $36.61, for a total transaction of $402,710.00. Following the completion of the transaction, the chairman now directly owns 35,029 shares in the company, valued at approximately $1,282,411.69. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by company insiders.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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