Tocqueville Asset Management L.P. reduced its position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 590,049 shares of the company’s stock after selling 1,784 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.43% of Ionis Pharmaceuticals worth $24,587,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IONS. Point72 Asia Hong Kong Ltd lifted its stake in shares of Ionis Pharmaceuticals by 255.8% during the first quarter. Point72 Asia Hong Kong Ltd now owns 2,498 shares of the company’s stock worth $110,000 after buying an additional 1,796 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in shares of Ionis Pharmaceuticals during the second quarter worth $156,000. TLP Group LLC lifted its stake in shares of Ionis Pharmaceuticals by 5,220.0% during the first quarter. TLP Group LLC now owns 4,522 shares of the company’s stock worth $199,000 after buying an additional 4,437 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in Ionis Pharmaceuticals during the second quarter valued at $212,000. Finally, Mizuho Securities USA LLC acquired a new position in Ionis Pharmaceuticals during the second quarter valued at $263,000. 85.60% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on IONS. Stifel Nicolaus decreased their target price on shares of Ionis Pharmaceuticals from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, August 28th. ValuEngine upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Piper Jaffray Companies began coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, May 30th. They set a “hold” rating and a $50.00 target price for the company. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Finally, Morgan Stanley decreased their target price on shares of Ionis Pharmaceuticals from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 28th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.00.
In other Ionis Pharmaceuticals news, Director Spencer R. Berthelsen sold 15,000 shares of the company’s stock in a transaction dated Monday, June 25th. The shares were sold at an average price of $42.30, for a total value of $634,500.00. Following the completion of the transaction, the director now owns 97,127 shares in the company, valued at $4,108,472.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Brett P. Monia sold 16,493 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $54.00, for a total transaction of $890,622.00. Following the completion of the transaction, the chief operating officer now owns 24,834 shares of the company’s stock, valued at approximately $1,341,036. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,149 shares of company stock valued at $2,094,959. Insiders own 2.13% of the company’s stock.
NASDAQ IONS opened at $44.46 on Friday. The firm has a market cap of $6.19 billion, a P/E ratio of 555.75 and a beta of 2.62. Ionis Pharmaceuticals Inc has a 1 year low of $39.07 and a 1 year high of $65.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 8.38 and a quick ratio of 8.34.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Tuesday, August 7th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The firm had revenue of $117.75 million during the quarter, compared to analyst estimates of $128.22 million. Ionis Pharmaceuticals had a negative return on equity of 1.22% and a negative net margin of 7.20%. equities analysts predict that Ionis Pharmaceuticals Inc will post -0.37 EPS for the current fiscal year.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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