Tennessee Valley Asset Management Partners Buys New Shares in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Tennessee Valley Asset Management Partners bought a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 673 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors have also added to or reduced their stakes in the company. Peoples Bank KS purchased a new stake in Ionis Pharmaceuticals during the third quarter valued at about $39,000. China Universal Asset Management Co. Ltd. boosted its position in Ionis Pharmaceuticals by 95.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,670 shares of the company’s stock valued at $166,000 after buying an additional 1,795 shares during the period. Mitchell & Pahl Private Wealth LLC purchased a new stake in Ionis Pharmaceuticals during the third quarter valued at about $210,000. Sherbrooke Park Advisers LLC purchased a new stake in Ionis Pharmaceuticals during the third quarter valued at about $224,000. Finally, Legato Capital Management LLC purchased a new stake in Ionis Pharmaceuticals during the fourth quarter valued at about $276,000. Institutional investors own 93.86% of the company’s stock.

Wall Street Analysts Forecast Growth

IONS has been the subject of several analyst reports. Oppenheimer upped their price target on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. Royal Bank of Canada increased their target price on shares of Ionis Pharmaceuticals from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Wolfe Research upgraded shares of Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Wednesday, April 10th. StockNews.com upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Finally, William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.08.

Ionis Pharmaceuticals Stock Performance

Shares of IONS opened at $41.84 on Wednesday. The company has a debt-to-equity ratio of 3.18, a current ratio of 5.90 and a quick ratio of 5.83. Ionis Pharmaceuticals, Inc. has a one year low of $34.32 and a one year high of $54.44. The company has a 50-day simple moving average of $43.67 and a two-hundred day simple moving average of $47.30. The firm has a market capitalization of $6.10 billion, a PE ratio of -16.34 and a beta of 0.39.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Wednesday, February 21st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.72. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. The business had revenue of $325.00 million during the quarter, compared to the consensus estimate of $176.01 million. During the same quarter last year, the firm earned ($0.37) earnings per share. The business’s revenue for the quarter was up 113.8% on a year-over-year basis. On average, analysts anticipate that Ionis Pharmaceuticals, Inc. will post -4 EPS for the current fiscal year.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Joseph Baroldi sold 4,006 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the completion of the transaction, the executive vice president now owns 19,631 shares of the company’s stock, valued at $816,649.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brett P. Monia sold 23,501 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $49.37, for a total transaction of $1,160,244.37. Following the completion of the sale, the chief executive officer now owns 174,138 shares of the company’s stock, valued at $8,597,193.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph Baroldi sold 4,006 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the sale, the executive vice president now directly owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,434 shares of company stock valued at $2,556,127. Corporate insiders own 2.65% of the company’s stock.

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.