Janney Montgomery Scott LLC Cuts Stake in Ionis Pharmaceuticals Inc (NASDAQ:IONS)

Janney Montgomery Scott LLC lowered its position in shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,434 shares of the company’s stock after selling 1,546 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ionis Pharmaceuticals were worth $2,266,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Balentine LLC purchased a new position in Ionis Pharmaceuticals during the 1st quarter worth $29,000. Cornerstone Advisors Inc. raised its position in Ionis Pharmaceuticals by 107.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 663 shares of the company’s stock worth $31,000 after buying an additional 343 shares during the last quarter. Marshall Wace LLP raised its position in Ionis Pharmaceuticals by 81.1% during the 4th quarter. Marshall Wace LLP now owns 1,016 shares of the company’s stock worth $61,000 after buying an additional 455 shares during the last quarter. Schroder Investment Management Group purchased a new position in Ionis Pharmaceuticals during the 1st quarter worth $71,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Ionis Pharmaceuticals by 69.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,518 shares of the company’s stock worth $71,000 after buying an additional 623 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Shares of NASDAQ IONS opened at $57.56 on Friday. Ionis Pharmaceuticals Inc has a 52 week low of $39.32 and a 52 week high of $73.09. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 52.33 and a beta of 1.65. The company’s 50-day moving average price is $59.93 and its 200 day moving average price is $56.25. The company has a current ratio of 9.91, a quick ratio of 9.83 and a debt-to-equity ratio of 0.51.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.23). Ionis Pharmaceuticals had a return on equity of 12.50% and a net margin of 16.79%. The firm had revenue of $133.00 million for the quarter, compared to analyst estimates of $161.59 million. During the same period in the prior year, the business earned $0.62 earnings per share. Ionis Pharmaceuticals’s revenue for the quarter was down 55.2% on a year-over-year basis. As a group, research analysts expect that Ionis Pharmaceuticals Inc will post -0.48 earnings per share for the current year.

In other Ionis Pharmaceuticals news, EVP C Frank Bennett sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $59.77, for a total transaction of $896,550.00. Following the sale, the executive vice president now directly owns 47,364 shares of the company’s stock, valued at approximately $2,830,946.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Stanley T. Crooke sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $58.33, for a total transaction of $583,300.00. Following the sale, the chairman now directly owns 26,935 shares in the company, valued at $1,571,118.55. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock worth $4,123,750 over the last ninety days. 2.40% of the stock is owned by corporate insiders.

IONS has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. William Blair reiterated a “hold” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, June 10th. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 13th. Oppenheimer cut their price target on shares of Ionis Pharmaceuticals from $77.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $89.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $73.47.

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.

Further Reading: Sell-Side Analysts

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

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