Ionis Pharmaceuticals, Inc. $IONS Shares Sold by Groupama Asset Managment

Groupama Asset Managment reduced its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,061,777 shares of the company’s stock after selling 99,180 shares during the quarter. Groupama Asset Managment owned 0.66% of Ionis Pharmaceuticals worth $69,461,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Ionis Pharmaceuticals in the 3rd quarter valued at about $25,000. Golden State Wealth Management LLC boosted its position in Ionis Pharmaceuticals by 198.4% during the third quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock worth $25,000 after purchasing an additional 250 shares in the last quarter. Mather Group LLC. acquired a new stake in Ionis Pharmaceuticals in the third quarter valued at approximately $27,000. Allworth Financial LP grew its holdings in Ionis Pharmaceuticals by 231.8% in the second quarter. Allworth Financial LP now owns 740 shares of the company’s stock valued at $29,000 after purchasing an additional 517 shares during the period. Finally, Quarry LP purchased a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at approximately $38,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, EVP Patrick R. O’neil sold 10,148 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $75.25, for a total value of $763,637.00. Following the completion of the sale, the executive vice president owned 62,211 shares in the company, valued at approximately $4,681,377.75. This represents a 14.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kyle Jenne sold 37,277 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $75.85, for a total transaction of $2,827,460.45. Following the completion of the transaction, the executive vice president directly owned 11,714 shares in the company, valued at $888,506.90. This trade represents a 76.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,030,070 shares of company stock valued at $80,079,769. Corporate insiders own 2.60% of the company’s stock.

Ionis Pharmaceuticals Stock Down 0.9%

Shares of IONS opened at $71.67 on Thursday. The stock has a 50 day moving average price of $79.97 and a 200 day moving average price of $75.05. Ionis Pharmaceuticals, Inc. has a one year low of $23.95 and a one year high of $86.74. The company has a debt-to-equity ratio of 2.76, a quick ratio of 3.81 and a current ratio of 3.83. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of -29.37 and a beta of 0.31.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.18). Ionis Pharmaceuticals had a negative net margin of 40.36% and a negative return on equity of 68.82%. The firm had revenue of $203.33 million during the quarter, compared to analysts’ expectations of $156.07 million. During the same quarter in the previous year, the business posted ($0.66) EPS. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. Equities research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IONS shares. TD Cowen reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, December 3rd. Wall Street Zen lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Piper Sandler upped their price objective on shares of Ionis Pharmaceuticals from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Morgan Stanley set a $95.00 price objective on shares of Ionis Pharmaceuticals and gave the company an “overweight” rating in a report on Wednesday, February 25th. Finally, Bank of America lifted their target price on shares of Ionis Pharmaceuticals from $86.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ionis Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Ionis Pharmaceuticals Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.