Public Employees Retirement System of Ohio cut its holdings in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,102 shares of the company’s stock after selling 221 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Ionis Pharmaceuticals were worth $2,600,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Parallel Advisors LLC lifted its position in Ionis Pharmaceuticals by 62.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after buying an additional 800 shares in the last quarter. Hanseatic Management Services Inc. lifted its position in Ionis Pharmaceuticals by 1.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock worth $177,000 after buying an additional 41 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Ionis Pharmaceuticals by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock worth $190,000 after buying an additional 311 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Ionis Pharmaceuticals during the 2nd quarter worth about $222,000. Finally, Cheyne Capital Management UK LLP bought a new stake in Ionis Pharmaceuticals during the 2nd quarter worth about $249,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.
In other Ionis Pharmaceuticals news, CEO Stanley T. Crooke sold 15,000 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $52.00, for a total value of $780,000.00. Following the sale, the chief executive officer now owns 43,014 shares of the company’s stock, valued at $2,236,728. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO B Lynne Parshall sold 16,118 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $65.00, for a total transaction of $1,047,670.00. Following the completion of the sale, the chief operating officer now directly owns 33,526 shares in the company, valued at approximately $2,179,190. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,636 shares of company stock worth $5,665,565. 2.13% of the stock is owned by corporate insiders.
Several equities research analysts have commented on IONS shares. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Monday, July 31st. Jefferies Group LLC reissued an “underperform” rating and set a $18.00 price target (up from $17.00) on shares of Ionis Pharmaceuticals in a research report on Thursday, August 10th. Sanford C. Bernstein started coverage on shares of Ionis Pharmaceuticals in a research report on Thursday, July 27th. They set a “market perform” rating and a $57.00 price target on the stock. BMO Capital Markets reissued an “outperform” rating and set a $62.00 price target (up from $59.00) on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 12th. Finally, Barclays PLC cut their price target on shares of Ionis Pharmaceuticals from $55.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ionis Pharmaceuticals has a consensus rating of “Hold” and an average target price of $49.64.
Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) opened at 57.11 on Wednesday. The stock has a 50 day moving average of $56.68 and a 200-day moving average of $51.46. Ionis Pharmaceuticals, Inc. has a one year low of $24.58 and a one year high of $65.51. The company has a market capitalization of $7.10 billion, a PE ratio of 274.57 and a beta of 3.12.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The firm had revenue of $104.15 million for the quarter, compared to analysts’ expectations of $93.29 million. During the same quarter last year, the firm posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 170.7% compared to the same quarter last year. On average, equities analysts forecast that Ionis Pharmaceuticals, Inc. will post ($0.14) earnings per share for the current fiscal year.
About Ionis Pharmaceuticals
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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