Sumitomo Mitsui Trust Holdings Inc. decreased its position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 14.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 785,429 shares of the company’s stock after selling 135,758 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.56% of Ionis Pharmaceuticals worth $46,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of IONS. Norges Bank purchased a new position in Ionis Pharmaceuticals in the 4th quarter worth approximately $73,035,000. First Trust Advisors LP lifted its stake in Ionis Pharmaceuticals by 38.1% in the 2nd quarter. First Trust Advisors LP now owns 1,315,207 shares of the company’s stock worth $77,545,000 after purchasing an additional 362,734 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Ionis Pharmaceuticals by 36.9% in the 1st quarter. Rockefeller Capital Management L.P. now owns 670,138 shares of the company’s stock worth $31,684,000 after purchasing an additional 180,487 shares in the last quarter. Swiss National Bank lifted its stake in Ionis Pharmaceuticals by 23.3% in the 1st quarter. Swiss National Bank now owns 518,759 shares of the company’s stock worth $24,527,000 after purchasing an additional 97,900 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Ionis Pharmaceuticals by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 8,034,264 shares of the company’s stock worth $379,860,000 after purchasing an additional 86,688 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.
A number of research firms have weighed in on IONS. BidaskClub lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. Morgan Stanley raised their target price on shares of Ionis Pharmaceuticals from $51.00 to $56.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 15th. Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Oppenheimer reduced their price target on shares of Ionis Pharmaceuticals from $77.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Finally, Royal Bank of Canada started coverage on shares of Ionis Pharmaceuticals in a research report on Tuesday, May 12th. They set an “outperform” rating and a $71.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Ionis Pharmaceuticals has an average rating of “Hold” and an average target price of $73.47.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, May 6th. The company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.23). Ionis Pharmaceuticals had a net margin of 16.79% and a return on equity of 12.50%. The company had revenue of $133.00 million during the quarter, compared to analyst estimates of $161.59 million. During the same quarter last year, the business posted $0.62 EPS. The firm’s revenue for the quarter was down 55.2% on a year-over-year basis. As a group, equities research analysts forecast that Ionis Pharmaceuticals Inc will post -0.48 earnings per share for the current year.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $58.80, for a total value of $294,000.00. Following the completion of the transaction, the chairman now owns 11,935 shares in the company, valued at $701,778. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP C Frank Bennett sold 15,000 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $59.77, for a total transaction of $896,550.00. Following the completion of the transaction, the executive vice president now owns 47,364 shares of the company’s stock, valued at approximately $2,830,946.28. The disclosure for this sale can be found here. Insiders sold a total of 70,000 shares of company stock valued at $4,123,750 in the last quarter. 2.40% of the stock is owned by insiders.
About Ionis Pharmaceuticals
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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