Squarepoint Ops LLC decreased its holdings in shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,331 shares of the company’s stock after selling 11,587 shares during the period. Squarepoint Ops LLC owned about 0.11% of Ionis Pharmaceuticals worth $9,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Advisory Services Network LLC raised its stake in Ionis Pharmaceuticals by 38.5% in the 2nd quarter. Advisory Services Network LLC now owns 907 shares of the company’s stock valued at $58,000 after purchasing an additional 252 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Ionis Pharmaceuticals by 567.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,840 shares of the company’s stock worth $375,000 after acquiring an additional 4,965 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter worth $1,307,000. Raymond James Trust N.A. increased its stake in shares of Ionis Pharmaceuticals by 19.4% in the 3rd quarter. Raymond James Trust N.A. now owns 5,337 shares of the company’s stock worth $320,000 after acquiring an additional 866 shares during the last quarter. Finally, Quest Capital Management Inc. ADV acquired a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.
A number of analysts have issued reports on the company. Piper Jaffray Companies cut their target price on Ionis Pharmaceuticals from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. TheStreet cut Ionis Pharmaceuticals from a “b-” rating to a “c” rating in a report on Thursday, August 8th. Evercore ISI set a $76.00 price target on Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Wednesday, August 7th. Cowen reiterated a “hold” rating on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Finally, Bank of America started coverage on Ionis Pharmaceuticals in a report on Wednesday, November 13th. They set a “buy” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Ionis Pharmaceuticals currently has an average rating of “Hold” and an average price target of $75.55.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.49. The business had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. Ionis Pharmaceuticals had a return on equity of 36.31% and a net margin of 52.26%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) EPS. On average, sell-side analysts forecast that Ionis Pharmaceuticals Inc will post 1.99 earnings per share for the current fiscal year.
In other Ionis Pharmaceuticals news, CFO Elizabeth L. Hougen sold 4,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $58.80, for a total transaction of $235,200.00. Following the transaction, the chief financial officer now owns 24,055 shares of the company’s stock, valued at $1,414,434. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Klein III sold 812 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $62.90, for a total value of $51,074.80. Following the transaction, the director now directly owns 12,683 shares in the company, valued at approximately $797,760.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,588 shares of company stock worth $1,002,893. 2.40% of the stock is currently owned by corporate insiders.
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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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