Ionis Pharmaceuticals, Inc. $IONS Stock Position Raised by Candriam S.C.A.

Candriam S.C.A. grew its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 69.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 755,024 shares of the company’s stock after purchasing an additional 310,005 shares during the quarter. Candriam S.C.A.’s holdings in Ionis Pharmaceuticals were worth $33,835,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. lifted its holdings in Ionis Pharmaceuticals by 199.7% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company’s stock worth $112,427,000 after purchasing an additional 944,766 shares during the last quarter. Bank of America Corp DE bought a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $62,718,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $54,253,000. TimesSquare Capital Management LLC bought a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $48,690,000. Finally, Bank of New York Mellon Corp acquired a new position in Ionis Pharmaceuticals in the 2nd quarter valued at $43,011,000. Institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Stock Performance

Shares of NASDAQ:IONS opened at $39.42 on Monday. The company has a market capitalization of $6.55 billion, a P/E ratio of -11.39 and a beta of 0.43. Ionis Pharmaceuticals, Inc. has a 1 year low of $38.31 and a 1 year high of $86.74. The company has a debt-to-equity ratio of 3.07, a current ratio of 7.89 and a quick ratio of 7.73. The business’s 50 day simple moving average is $46.80 and its 200 day simple moving average is $65.88.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, EVP Shannon Devers sold 1,357 shares of Ionis Pharmaceuticals stock in a transaction on Friday, October 16th. The stock was sold at an average price of $43.54, for a total value of $59,083.78. Following the completion of the transaction, the executive vice president directly owned 17,811 shares of the company’s stock, valued at $775,490.94. The trade was a 7.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wolfe Research cut Ionis Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 16th. Wells Fargo & Company dropped their target price on Ionis Pharmaceuticals from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Oppenheimer reissued an “outperform” rating and issued a $85.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, September 24th. Guggenheim decreased their price target on shares of Ionis Pharmaceuticals from $89.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, September 15th. Finally, Royal Bank Of Canada lowered their price target on shares of Ionis Pharmaceuticals from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Nineteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.48.

Ionis Pharmaceuticals Profile

Ionis Pharmaceuticals is a biotechnology company that discovers and develops RNA-targeted medicines, with a focus on antisense oligonucleotides. Its medicines are designed to act on RNA and change the production of proteins linked to disease. The company’s research and development programs span neurological, cardiovascular, metabolic and rare diseases.

Ionis has developed medicines that it commercializes itself and products advanced or marketed with pharmaceutical partners. Its medicines and partnered products include treatments for conditions such as spinal muscular atrophy and transthyretin amyloidosis.