American International Group Inc. Sells 104 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

American International Group Inc. cut its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,741 shares of the company’s stock after selling 104 shares during the period. American International Group Inc.’s holdings in Ionis Pharmaceuticals were worth $110,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of IONS. Capital Investment Advisory Services LLC raised its stake in Ionis Pharmaceuticals by 8.2% in the first quarter. Capital Investment Advisory Services LLC now owns 18,190 shares of the company’s stock worth $731,000 after buying an additional 1,384 shares during the period. Wrapmanager Inc. raised its stake in Ionis Pharmaceuticals by 4.0% in the first quarter. Wrapmanager Inc. now owns 18,024 shares of the company’s stock worth $725,000 after buying an additional 696 shares during the period. Grandfield & Dodd LLC raised its stake in Ionis Pharmaceuticals by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 12,119 shares of the company’s stock worth $487,000 after buying an additional 135 shares during the period. Canada Pension Plan Investment Board raised its stake in Ionis Pharmaceuticals by 72.4% in the first quarter. Canada Pension Plan Investment Board now owns 111,410 shares of the company’s stock worth $4,479,000 after buying an additional 46,800 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Ionis Pharmaceuticals by 12.0% in the first quarter. Janney Montgomery Scott LLC now owns 49,690 shares of the company’s stock worth $1,998,000 after buying an additional 5,314 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Ionis Pharmaceuticals, Inc. (NASDAQ IONS) opened at 48.06 on Thursday. The stock has a market cap of $5.96 billion, a P/E ratio of 231.06 and a beta of 3.14. The company has a 50-day moving average price of $52.99 and a 200-day moving average price of $46.91. Ionis Pharmaceuticals, Inc. has a one year low of $24.58 and a one year high of $60.01.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $104.15 million during the quarter, compared to the consensus estimate of $93.29 million. Ionis Pharmaceuticals had a return on equity of 17.34% and a net margin of 5.25%. The company’s revenue for the quarter was up 170.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. On average, analysts anticipate that Ionis Pharmaceuticals, Inc. will post ($0.05) earnings per share for the current year.

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A number of research firms have recently issued reports on IONS. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday, July 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up previously from $59.56) on shares of Ionis Pharmaceuticals in a research note on Tuesday, July 25th. Sanford C. Bernstein began coverage on Ionis Pharmaceuticals in a research note on Thursday, July 27th. They issued a “market perform” rating and a $57.00 target price for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $42.00 target price on shares of Ionis Pharmaceuticals in a research note on Monday, July 10th. Finally, TheStreet upgraded Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research note on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.13.

In other news, Chairman Stanley T. Crooke sold 11,000 shares of Ionis Pharmaceuticals stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $55.35, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 48,014 shares in the company, valued at $2,657,574.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP C Frank Bennett sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.29, for a total value of $592,900.00. Following the completion of the transaction, the senior vice president now owns 25,041 shares in the company, valued at $1,484,680.89. The disclosure for this sale can be found here. Insiders sold 54,379 shares of company stock worth $2,946,052 over the last quarter. 1.86% of the stock is currently owned by corporate insiders.

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

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