Jacobs Levy Equity Management Inc. Purchases 77,909 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Jacobs Levy Equity Management Inc. raised its holdings in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 13.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 650,779 shares of the company’s stock after purchasing an additional 77,909 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.41% of Ionis Pharmaceuticals worth $26,070,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky increased its position in shares of Ionis Pharmaceuticals by 70.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 24,083 shares of the company’s stock worth $1,044,000 after acquiring an additional 9,965 shares in the last quarter. Tidal Investments LLC acquired a new position in Ionis Pharmaceuticals during the 1st quarter valued at about $885,000. Great Point Partners LLC bought a new stake in Ionis Pharmaceuticals during the 2nd quarter worth approximately $15,728,000. DRW Securities LLC purchased a new stake in shares of Ionis Pharmaceuticals in the second quarter worth approximately $2,429,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 8.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock valued at $57,807,000 after purchasing an additional 114,914 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. StockNews.com downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Guggenheim reduced their price objective on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Piper Sandler reduced 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. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.65.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,194 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following the completion of the transaction, the executive vice president now owns 33,713 shares of the company’s stock, valued at $1,278,396.96. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brett P. Monia sold 6,630 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total transaction of $252,271.50. Following the completion of the sale, the chief executive officer now directly owns 167,393 shares in the company, valued at approximately $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,877 shares of company stock valued at $299,578 in the last 90 days. 2.71% of the stock is currently owned by company insiders.

Ionis Pharmaceuticals Stock Performance

Shares of IONS stock opened at $35.81 on Wednesday. The firm’s 50 day moving average is $37.85 and its 200 day moving average is $42.36. The stock has a market capitalization of $5.65 billion, a P/E ratio of -14.68 and a beta of 0.35. Ionis Pharmaceuticals, Inc. has a 12 month low of $33.33 and a 12 month high of $54.44. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86.

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; 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.