Tocqueville Asset Management L.P. reduced its position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 401,797 shares of the company’s stock after selling 7,510 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.29% of Ionis Pharmaceuticals worth $24,273,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. DNB Asset Management AS boosted its holdings in shares of Ionis Pharmaceuticals by 11.2% in the fourth quarter. DNB Asset Management AS now owns 15,889 shares of the company’s stock valued at $960,000 after acquiring an additional 1,600 shares during the period. Allred Capital Management LLC acquired a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at approximately $76,000. Scout Investments Inc. acquired a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at approximately $15,635,000. Evoke Wealth LLC acquired a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at approximately $41,000. Finally, Metropolitan Life Insurance Co NY boosted its holdings in shares of Ionis Pharmaceuticals by 2.5% in the third quarter. Metropolitan Life Insurance Co NY now owns 9,428 shares of the company’s stock valued at $565,000 after acquiring an additional 228 shares during the period. 85.64% of the stock is owned by institutional investors and hedge funds.
In other Ionis Pharmaceuticals news, SVP Richard S. Geary sold 5,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $65.06, for a total value of $325,300.00. Following the completion of the sale, the senior vice president now owns 26,583 shares of the company’s stock, valued at $1,729,489.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph Klein III sold 1,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $61.87, for a total value of $61,870.00. Following the completion of the sale, the director now directly owns 13,683 shares of the company’s stock, valued at approximately $846,567.21. The disclosure for this sale can be found here. In the last three months, insiders sold 40,327 shares of company stock valued at $2,534,865. 2.40% of the stock is owned by corporate insiders.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.49. Ionis Pharmaceuticals had a return on equity of 36.31% and a net margin of 52.26%. The firm had revenue of $168.00 million during the quarter, compared to the consensus estimate of $152.47 million. During the same period last year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts anticipate that Ionis Pharmaceuticals Inc will post 1.82 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on IONS shares. Cowen reissued a “hold” rating on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Wells Fargo & Co increased their price target on Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. BidaskClub raised Ionis Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, December 23rd. Finally, ValuEngine raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $75.67.
Ionis Pharmaceuticals Company 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.
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