Ionis Pharmaceuticals Inc (NASDAQ:IONS) Position Cut by Altrinsic Global Advisors LLC

Altrinsic Global Advisors LLC cut its position in shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 55.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 237,645 shares of the company’s stock after selling 290,614 shares during the quarter. Altrinsic Global Advisors LLC’s holdings in Ionis Pharmaceuticals were worth $19,290,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IONS. Northwestern Mutual Wealth Management Co. raised its position in Ionis Pharmaceuticals by 12.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,485 shares of the company’s stock worth $121,000 after acquiring an additional 160 shares during the period. Carroll Financial Associates Inc. raised its position in Ionis Pharmaceuticals by 27.4% during the first quarter. Carroll Financial Associates Inc. now owns 762 shares of the company’s stock worth $61,000 after acquiring an additional 164 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Ionis Pharmaceuticals by 9.0% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,268 shares of the company’s stock worth $184,000 after acquiring an additional 188 shares during the period. Daiwa Securities Group Inc. raised its position in Ionis Pharmaceuticals by 29.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 890 shares of the company’s stock worth $48,000 after acquiring an additional 200 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in Ionis Pharmaceuticals by 1.4% during the first quarter. Commonwealth Equity Services LLC now owns 19,186 shares of the company’s stock worth $1,557,000 after acquiring an additional 259 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Ionis Pharmaceuticals in a research report on Tuesday, April 9th. They set a “neutral” rating and a $68.00 price objective for the company. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their price objective on shares of Ionis Pharmaceuticals from $47.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Piper Jaffray Companies set a $75.00 price objective on shares of Ionis Pharmaceuticals and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Finally, ValuEngine upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $66.44.

Shares of NASDAQ IONS opened at $63.36 on Wednesday. The stock has a market capitalization of $8.94 billion, a PE ratio of 21.41 and a beta of 2.27. The company has a quick ratio of 9.36, a current ratio of 9.40 and a debt-to-equity ratio of 0.47. Ionis Pharmaceuticals Inc has a 52 week low of $40.91 and a 52 week high of $86.58.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Thursday, May 9th. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.19. The business had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $285.43 million. Ionis Pharmaceuticals had a net margin of 47.74% and a return on equity of 44.03%. The company’s quarterly revenue was up 106.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. As a group, equities research analysts predict that Ionis Pharmaceuticals Inc will post -0.21 EPS for the current fiscal year.

In other news, Director Frederick T. Muto sold 15,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $65.29, for a total value of $979,350.00. Following the completion of the sale, the director now directly owns 24,794 shares in the company, valued at $1,618,800.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph H. Wender sold 10,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $79.63, for a total transaction of $796,300.00. The disclosure for this sale can be found here. Insiders sold 247,222 shares of company stock valued at $19,785,950 over the last quarter. Company insiders own 2.40% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.wkrb13.com/2019/06/12/ionis-pharmaceuticals-inc-nasdaqions-position-cut-by-altrinsic-global-advisors-llc.html.

Ionis Pharmaceuticals Profile

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.

Featured Article: How to read a candlestick chart

Want to see what other hedge funds are holding IONS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ionis Pharmaceuticals Inc (NASDAQ:IONS).

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

Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.