Allianz Asset Management GmbH lessened its holdings in shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 13.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,380 shares of the company’s stock after selling 9,500 shares during the quarter. Allianz Asset Management GmbH’s holdings in Ionis Pharmaceuticals were worth $2,618,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. American International Group Inc. acquired a new stake in Ionis Pharmaceuticals during the 4th quarter worth approximately $147,000. Icon Wealth Partners LLC acquired a new stake in Ionis Pharmaceuticals during the 4th quarter worth approximately $182,000. Hanseatic Management Services Inc. increased its position in Ionis Pharmaceuticals by 41.1% during the 4th quarter. Hanseatic Management Services Inc. now owns 4,154 shares of the company’s stock worth $209,000 after purchasing an additional 1,210 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in Ionis Pharmaceuticals during the 4th quarter worth approximately $254,000. Finally, Mackenzie Financial Corp acquired a new stake in Ionis Pharmaceuticals during the 4th quarter worth approximately $289,000. 91.07% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on IONS. Barclays downgraded shares of Ionis Pharmaceuticals from an “equal weight” rating to an “underweight” rating and set a $52.00 target price for the company. in a research report on Wednesday, June 20th. Piper Jaffray Companies assumed coverage on Ionis Pharmaceuticals in a report on Wednesday, May 30th. They issued a “hold” rating and a $50.00 price target for the company. Zacks Investment Research cut Ionis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 10th. ValuEngine cut Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 8th. Finally, Morgan Stanley decreased their price target on Ionis Pharmaceuticals to $52.00 and set an “equal weight” rating for the company in a report on Monday, May 7th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Ionis Pharmaceuticals has an average rating of “Hold” and an average price target of $52.83.
NASDAQ IONS opened at $43.46 on Wednesday. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 543.25 and a beta of 2.48. Ionis Pharmaceuticals Inc has a fifty-two week low of $39.07 and a fifty-two week high of $65.51. The company has a debt-to-equity ratio of 1.59, a current ratio of 5.38 and a quick ratio of 5.33.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Friday, May 4th. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.10. The firm had revenue of $144.40 million during the quarter, compared to analysts’ expectations of $144.01 million. Ionis Pharmaceuticals had a negative return on equity of 3.06% and a negative net margin of 2.00%. Ionis Pharmaceuticals’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. sell-side analysts forecast that Ionis Pharmaceuticals Inc will post -0.04 earnings per share for the current fiscal year.
In other news, Director Frederick T. Muto sold 15,000 shares of the stock in a transaction that occurred on Thursday, May 31st. The stock was sold at an average price of $46.45, for a total transaction of $696,750.00. Following the completion of the transaction, the director now directly owns 22,127 shares in the company, valued at approximately $1,027,799.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph Klein III sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $46.15, for a total value of $92,300.00. Following the transaction, the director now owns 11,939 shares of the company’s stock, valued at $550,984.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,462 shares of company stock valued at $3,285,613. Company insiders own 2.44% of the company’s stock.
Ionis Pharmaceuticals Profile
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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