Commerce Bank Raises Stock Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Commerce Bank grew its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,553 shares of the company’s stock after purchasing an additional 1,211 shares during the period. Commerce Bank’s holdings in Ionis Pharmaceuticals were worth $3,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Ionis Pharmaceuticals during the 1st quarter worth about $255,000. CANADA LIFE ASSURANCE Co lifted its holdings in Ionis Pharmaceuticals by 2.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,880 shares of the company’s stock worth $1,817,000 after buying an additional 1,099 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Ionis Pharmaceuticals by 948.8% in the 1st quarter. Advisors Asset Management Inc. now owns 3,178 shares of the company’s stock valued at $138,000 after buying an additional 2,875 shares during the period. Paloma Partners Management Co acquired a new position in shares of Ionis Pharmaceuticals in the first quarter worth $213,000. Finally, Kennedy Capital Management LLC increased its position in shares of Ionis Pharmaceuticals by 9.2% during the first quarter. Kennedy Capital Management LLC now owns 249,527 shares of the company’s stock worth $10,817,000 after acquiring an additional 21,102 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Stock Up 0.2 %

Shares of NASDAQ IONS opened at $34.01 on Friday. The stock has a market cap of $5.37 billion, a PE ratio of -13.94 and a beta of 0.39. Ionis Pharmaceuticals, Inc. has a 52-week low of $33.33 and a 52-week high of $54.44. The business has a 50-day moving average price of $38.87 and a 200 day moving average price of $42.52. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86.

Insider Activity

In other news, EVP Eric Swayze sold 1,194 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total value of $45,276.48. Following the transaction, the executive vice president now owns 33,713 shares of the company’s stock, valued at approximately $1,278,396.96. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett P. Monia sold 6,630 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the sale, the chief executive officer now directly owns 167,393 shares of the company’s stock, valued at approximately $6,369,303.65. This represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,197 shares of company stock valued at $315,310 in the last ninety days. 2.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IONS has been the subject of a number of recent research reports. Piper Sandler decreased their target price on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. BMO Capital Markets downgraded shares of Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $67.00 to $60.00 in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.65.

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.