Corient Private Wealth LLC Sells 39,678 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Corient Private Wealth LLC decreased its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONSFree Report) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 267,312 shares of the company’s stock after selling 39,678 shares during the period. Corient Private Wealth LLC owned 0.19% of Ionis Pharmaceuticals worth $13,523,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Ionis Pharmaceuticals in the fourth quarter valued at about $59,288,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Ionis Pharmaceuticals during the third quarter worth about $48,399,000. Wellington Management Group LLP grew its stake in shares of Ionis Pharmaceuticals by 92.5% during the third quarter. Wellington Management Group LLP now owns 1,760,625 shares of the company’s stock worth $79,862,000 after acquiring an additional 845,902 shares during the last quarter. First Turn Management LLC purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth about $18,044,000. Finally, C WorldWide Group Holding A S purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth about $15,177,000. 93.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ionis Pharmaceuticals

In other news, Director Joseph Klein III sold 6,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $42.71, for a total transaction of $256,260.00. Following the completion of the sale, the director now directly owns 16,346 shares in the company, valued at $698,137.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Joseph Klein III sold 6,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $42.71, for a total transaction of $256,260.00. Following the sale, the director now owns 16,346 shares of the company’s stock, valued at $698,137.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the transaction, the executive vice president now directly owns 19,631 shares in the company, valued at approximately $816,649.60. The disclosure for this sale can be found here. Insiders own 2.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company cut their target price on Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Oppenheimer raised their price objective on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. raised their price objective on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, April 9th. Finally, StockNews.com raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.54.

Get Our Latest Analysis on IONS

Ionis Pharmaceuticals Stock Down 1.9 %

Shares of IONS traded down $0.72 during trading hours on Friday, hitting $37.28. The company had a trading volume of 676,253 shares, compared to its average volume of 1,242,344. The company’s fifty day moving average price is $41.38 and its two-hundred day moving average price is $46.28. Ionis Pharmaceuticals, Inc. has a one year low of $36.56 and a one year high of $54.44. The company has a market capitalization of $5.44 billion, a PE ratio of -13.96 and a beta of 0.41. The company has a current ratio of 7.37, a quick ratio of 7.28 and a debt-to-equity ratio of 4.15.

Ionis Pharmaceuticals (NASDAQ:IONSGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.12. Ionis Pharmaceuticals had a negative return on equity of 107.64% and a negative net margin of 49.49%. The company had revenue of $119.00 million for the quarter, compared to the consensus estimate of $131.42 million. During the same quarter in the prior year, the business posted ($0.87) earnings per share. Ionis Pharmaceuticals’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, equities analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.98 earnings per share for the current fiscal year.

Ionis Pharmaceuticals Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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