Candriam Luxembourg S.C.A. cut its stake in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 42.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the company’s stock after selling 81,000 shares during the period. Candriam Luxembourg S.C.A. owned 0.09% of Ionis Pharmaceuticals worth $5,596,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in IONS. Sei Investments Co. raised its stake in shares of Ionis Pharmaceuticals by 27.6% in the second quarter. Sei Investments Co. now owns 51,357 shares of the company’s stock valued at $2,613,000 after buying an additional 11,120 shares during the period. World Asset Management Inc raised its stake in shares of Ionis Pharmaceuticals by 3.4% in the second quarter. World Asset Management Inc now owns 5,614 shares of the company’s stock valued at $286,000 after buying an additional 187 shares during the period. Grandfield & Dodd LLC raised its stake in shares of Ionis Pharmaceuticals by 5.7% in the second quarter. Grandfield & Dodd LLC now owns 12,809 shares of the company’s stock valued at $652,000 after buying an additional 690 shares during the period. Rothschild Asset Management Inc. raised its stake in shares of Ionis Pharmaceuticals by 5.6% in the second quarter. Rothschild Asset Management Inc. now owns 253,642 shares of the company’s stock valued at $12,903,000 after buying an additional 13,520 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of Ionis Pharmaceuticals by 5.2% in the second quarter. Janney Montgomery Scott LLC now owns 52,263 shares of the company’s stock valued at $2,659,000 after buying an additional 2,573 shares during the period. 88.82% of the stock is owned by institutional investors.
Ionis Pharmaceuticals Inc (NASDAQ:IONS) opened at 52.36 on Friday. The firm’s 50-day moving average price is $53.06 and its 200-day moving average price is $46.75. Ionis Pharmaceuticals Inc has a 12-month low of $24.58 and a 12-month high of $60.01. The stock’s market cap is $6.49 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.13. Ionis Pharmaceuticals had a return on equity of 9.23% and a net margin of 3.14%. The firm had revenue of $110.30 million for the quarter, compared to the consensus estimate of $86.03 million. During the same quarter last year, the company earned ($0.52) earnings per share. The business’s revenue for the quarter was up 199.2% compared to the same quarter last year. On average, equities analysts predict that Ionis Pharmaceuticals Inc will post ($0.03) EPS for the current fiscal year.
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Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Monday, July 31st. Sanford C. Bernstein assumed coverage on Ionis Pharmaceuticals in a report on Thursday, July 27th. They issued a “market perform” rating and a $57.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $64.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price objective (up previously from $59.56) on shares of Ionis Pharmaceuticals in a report on Tuesday, July 25th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $42.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $46.44.
In other news, SVP C Frank Bennett sold 10,000 shares of the firm’s 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 transaction, the senior vice president now owns 25,041 shares of the company’s stock, valued at $1,484,680.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Stanley T. Crooke sold 16,500 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $52.10, for a total value of $859,650.00. Following the completion of the transaction, the chairman now directly owns 51,476 shares in the company, valued at approximately $2,681,899.60. The disclosure for this sale can be found here. Insiders sold 54,379 shares of company stock worth $2,946,052 in the last ninety days. Corporate insiders own 1.86% of the company’s stock.
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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