Smith Asset Management Group LP Has $8.88 Million Stake in Ionis Pharmaceuticals Inc (IONS)

Smith Asset Management Group LP reduced its position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,510 shares of the company’s stock after selling 6,790 shares during the quarter. Smith Asset Management Group LP owned about 0.14% of Ionis Pharmaceuticals worth $8,878,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in shares of Ionis Pharmaceuticals by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock valued at $190,000 after acquiring an additional 311 shares during the period. Boston Advisors LLC boosted its position in shares of Ionis Pharmaceuticals by 15.4% in the third quarter. Boston Advisors LLC now owns 6,875 shares of the company’s stock valued at $349,000 after acquiring an additional 915 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Ionis Pharmaceuticals by 9.0% in the third quarter. Great West Life Assurance Co. Can now owns 13,296 shares of the company’s stock valued at $698,000 after acquiring an additional 1,096 shares during the period. Parallel Advisors LLC boosted its position in shares of Ionis Pharmaceuticals by 60.3% in the third quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $182,000 after acquiring an additional 1,250 shares during the period. Finally, Sicart Associates LLC boosted its position in shares of Ionis Pharmaceuticals by 0.4% in the third quarter. Sicart Associates LLC now owns 389,022 shares of the company’s stock valued at $19,724,000 after acquiring an additional 1,700 shares during the period. Institutional investors own 91.01% of the company’s stock.

IONS has been the subject of a number of analyst reports. BidaskClub upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Morgan Stanley raised their price objective on shares of Ionis Pharmaceuticals from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 8th. BMO Capital Markets lifted their target price on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, February 10th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $55.00 target price (down from $61.00) on shares of Ionis Pharmaceuticals in a research report on Tuesday, February 20th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $50.62.

In other Ionis Pharmaceuticals news, SVP Elizabeth L. Hougen sold 6,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $53.02, for a total transaction of $318,120.00. Following the transaction, the senior vice president now directly owns 16,392 shares of the company’s stock, valued at $869,103.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Patrick R. O’neil sold 1,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $55.50, for a total transaction of $55,500.00. Following the transaction, the senior vice president now directly owns 11,433 shares in the company, valued at $634,531.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,635 shares of company stock valued at $6,482,681. 2.13% of the stock is currently owned by company insiders.

Shares of Ionis Pharmaceuticals Inc (NASDAQ IONS) opened at $51.03 on Friday. Ionis Pharmaceuticals Inc has a 1 year low of $37.26 and a 1 year high of $65.51. The stock has a market cap of $6,368.34, a P/E ratio of 340.22 and a beta of 2.53. The company has a debt-to-equity ratio of 1.50, a quick ratio of 6.21 and a current ratio of 6.25.

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Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.

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

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