California State Teachers Retirement System reduced its holdings in Ionis Pharmaceuticals (NASDAQ:IONS) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 195,850 shares of the company’s stock after selling 3,063 shares during the period. California State Teachers Retirement System’s holdings in Ionis Pharmaceuticals were worth $9,851,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of IONS. The Manufacturers Life Insurance Company increased its position in Ionis Pharmaceuticals by 9.1% in 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 during the period. Crossmark Global Holdings Inc. bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth approximately $254,000. Sei Investments Co. increased its position in Ionis Pharmaceuticals by 8.7% in the 3rd quarter. Sei Investments Co. now owns 55,849 shares of the company’s stock worth $2,832,000 after buying an additional 4,492 shares during the period. New York State Common Retirement Fund increased its position in Ionis Pharmaceuticals by 1.0% in the 3rd quarter. New York State Common Retirement Fund now owns 387,492 shares of the company’s stock worth $19,646,000 after buying an additional 4,000 shares during the period. Finally, Quantbot Technologies LP bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth approximately $243,000. 90.71% of the stock is currently owned by institutional investors.
Shares of Ionis Pharmaceuticals stock opened at $47.74 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 5.20 and a quick ratio of 5.15. The company has a market capitalization of $6,367.97, a price-to-earnings ratio of -1,193.20 and a beta of 2.44. Ionis Pharmaceuticals has a one year low of $37.26 and a one year high of $65.51.
Several analysts have recently weighed in on the company. Zacks Investment Research raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, March 9th. BidaskClub raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, March 9th. ValuEngine raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. TheStreet lowered Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a report on Tuesday, February 27th. Finally, BMO Capital Markets lifted their price objective on Ionis Pharmaceuticals from $64.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $51.12.
In related news, Director Joseph Klein III sold 3,000 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $48.99, for a total value of $146,970.00. Following the sale, the director now owns 11,339 shares of the company’s stock, valued at approximately $555,497.61. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director B Lynne Parshall sold 5,986 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $51.76, for a total value of $309,835.36. Following the completion of the transaction, the director now directly owns 44,166 shares in the company, valued at approximately $2,286,032.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,635 shares of company stock worth $5,615,581. 2.13% of the stock is owned by insiders.
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Ionis Pharmaceuticals Company 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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