Bellevue Group AG decreased its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Rating) by 3.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,463,400 shares of the company's stock after selling 313,128 shares during the quarter. Ionis Pharmaceuticals makes up 6.0% of Bellevue Group AG's holdings, making the stock its largest position. Bellevue Group AG owned about 6.66% of Ionis Pharmaceuticals worth $418,566,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of IONS. CWM LLC boosted its position in Ionis Pharmaceuticals by 14.2% during the third quarter. CWM LLC now owns 1,963 shares of the company's stock worth $87,000 after purchasing an additional 244 shares in the last quarter. Captrust Financial Advisors boosted its position in Ionis Pharmaceuticals by 21.1% during the second quarter. Captrust Financial Advisors now owns 1,429 shares of the company's stock worth $53,000 after purchasing an additional 249 shares in the last quarter. Grandfield & Dodd LLC boosted its position in Ionis Pharmaceuticals by 1.0% during the second quarter. Grandfield & Dodd LLC now owns 28,276 shares of the company's stock worth $1,050,000 after purchasing an additional 275 shares in the last quarter. Delphia USA Inc. boosted its position in Ionis Pharmaceuticals by 3.1% during the third quarter. Delphia USA Inc. now owns 9,597 shares of the company's stock worth $424,000 after purchasing an additional 286 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Ionis Pharmaceuticals by 7.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,708 shares of the company's stock worth $208,000 after purchasing an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 87.32% of the company's stock.
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Insider Buying and Selling
In related news, CEO Brett P. Monia sold 25,066 shares of the stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $39.49, for a total value of $989,856.34. Following the completion of the transaction, the chief executive officer now directly owns 120,863 shares in the company, valued at $4,772,879.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Brett P. Monia sold 25,066 shares of the stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $39.49, for a total value of $989,856.34. Following the completion of the transaction, the chief executive officer now directly owns 120,863 shares in the company, valued at $4,772,879.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elizabeth L. Hougen sold 8,280 shares of the stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $39.70, for a total value of $328,716.00. Following the completion of the transaction, the chief financial officer now owns 73,435 shares of the company's stock, valued at $2,915,369.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,477 shares of company stock worth $1,799,738. Company insiders own 2.36% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Morgan Stanley downgraded Ionis Pharmaceuticals from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $56.00 to $40.00 in a research report on Wednesday, December 21st. Barclays increased their target price on Ionis Pharmaceuticals to $44.00 in a report on Tuesday, November 15th. StockNews.com initiated coverage on Ionis Pharmaceuticals in a report on Wednesday, October 12th. They set a "hold" rating for the company. Piper Sandler increased their target price on Ionis Pharmaceuticals from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Thursday, January 19th. Finally, SVB Leerink increased their target price on Ionis Pharmaceuticals from $33.00 to $34.00 and gave the company a "market perform" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $45.88.
Ionis Pharmaceuticals Stock Performance
Shares of NASDAQ:IONS traded down $0.38 during midday trading on Tuesday, hitting $40.12. The company had a trading volume of 110,884 shares, compared to its average volume of 1,033,831. Ionis Pharmaceuticals, Inc. has a twelve month low of $29.68 and a twelve month high of $48.82. The company has a debt-to-equity ratio of 2.10, a current ratio of 7.59 and a quick ratio of 7.52. The business's 50-day simple moving average is $39.03 and its 200-day simple moving average is $42.03.
Ionis Pharmaceuticals (NASDAQ:IONS – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.41. Ionis Pharmaceuticals had a return on equity of 1.18% and a net margin of 0.91%. The firm had revenue of $160.00 million during the quarter, compared to analysts' expectations of $149.48 million. Analysts anticipate that Ionis Pharmaceuticals, Inc. will post -2.62 EPS for the current year.
About Ionis Pharmaceuticals
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Ionis Pharmaceuticals, Inc engages in the development and commercialization of human therapeutic drugs using antisense technology. It operates through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases.
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