Ionis Pharmaceuticals Inc (NASDAQ:IONS) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its holdings in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 8.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 800,268 shares of the company’s stock after selling 77,763 shares during the quarter. Ionis Pharmaceuticals makes up 1.2% of Pinnacle Associates Ltd.’s portfolio, making the stock its 13th biggest position. Pinnacle Associates Ltd.’s holdings in Ionis Pharmaceuticals were worth $51,433,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Chicago Equity Partners LLC increased its holdings in Ionis Pharmaceuticals by 56.7% in the second quarter. Chicago Equity Partners LLC now owns 14,780 shares of the company’s stock valued at $950,000 after buying an additional 5,350 shares during the last quarter. Swiss National Bank increased its holdings in Ionis Pharmaceuticals by 80.1% in the second quarter. Swiss National Bank now owns 428,700 shares of the company’s stock valued at $27,553,000 after buying an additional 190,600 shares during the last quarter. Comerica Bank increased its holdings in Ionis Pharmaceuticals by 1.1% in the second quarter. Comerica Bank now owns 15,590 shares of the company’s stock valued at $1,051,000 after buying an additional 170 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Ionis Pharmaceuticals by 13.3% in the second quarter. Envestnet Asset Management Inc. now owns 59,601 shares of the company’s stock valued at $3,831,000 after buying an additional 6,986 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in Ionis Pharmaceuticals by 3.9% in the second quarter. Stephens Inc. AR now owns 22,394 shares of the company’s stock valued at $1,439,000 after buying an additional 846 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Shares of NASDAQ:IONS traded up $1.08 during trading on Monday, hitting $70.16. 23,390 shares of the company traded hands, compared to its average volume of 1,224,273. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 23.63 and a beta of 2.07. The business’s fifty day moving average is $65.93 and its 200-day moving average is $68.72. Ionis Pharmaceuticals Inc has a one year low of $43.27 and a one year high of $86.58. The company has a quick ratio of 9.36, a current ratio of 10.01 and a debt-to-equity ratio of 0.45.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.26. The company had revenue of $164.00 million during the quarter, compared to analyst estimates of $145.31 million. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The business’s revenue was up 39.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.29) earnings per share. On average, analysts forecast that Ionis Pharmaceuticals Inc will post -0.22 EPS for the current year.

IONS has been the subject of several research analyst reports. Zacks Investment Research lowered Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Piper Jaffray Companies set a $75.00 price objective on Ionis Pharmaceuticals and gave the company a “hold” rating in a report on Friday, May 24th. Evercore ISI set a $76.00 target price on Ionis Pharmaceuticals and gave the company a “hold” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $68.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, April 24th. Finally, BMO Capital Markets lowered their target price on Ionis Pharmaceuticals from $96.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $67.78.

In other news, Director Frederick T. Muto sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $65.29, for a total transaction of $979,350.00. Following the completion of the transaction, the director now directly owns 24,794 shares of the company’s stock, valued at $1,618,800.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stanley T. Crooke sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $70.25, for a total value of $702,500.00. Following the transaction, the chief executive officer now owns 79,634 shares of the company’s stock, valued at $5,594,288.50. The disclosure for this sale can be found here. Insiders have sold 40,210 shares of company stock valued at $2,650,844 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Ionis Pharmaceuticals 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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

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