Proficio Capital Partners LLC Takes Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Proficio Capital Partners LLC acquired a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,703 shares of the company's stock, valued at approximately $829,000.

A number of other hedge funds have also modified their holdings of the business. Nicollet Investment Management Inc. lifted its position in Ionis Pharmaceuticals by 1.5% during the 3rd quarter. Nicollet Investment Management Inc. now owns 20,402 shares of the company's stock worth $817,000 after acquiring an additional 294 shares during the period. Amalgamated Bank raised its stake in shares of Ionis Pharmaceuticals by 3.1% during the third quarter. Amalgamated Bank now owns 9,957 shares of the company's stock worth $399,000 after purchasing an additional 300 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Ionis Pharmaceuticals by 40.9% during the third quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company's stock worth $43,000 after purchasing an additional 314 shares during the period. Vontobel Holding Ltd. grew its position in Ionis Pharmaceuticals by 6.6% in the 4th quarter. Vontobel Holding Ltd. now owns 5,865 shares of the company's stock valued at $205,000 after buying an additional 363 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Ionis Pharmaceuticals by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 13,616 shares of the company's stock valued at $476,000 after buying an additional 504 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

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Ionis Pharmaceuticals Trading Up 1.4 %

IONS traded up $0.46 during midday trading on Wednesday, hitting $33.49. The company's stock had a trading volume of 1,072,377 shares, compared to its average volume of 1,666,901. Ionis Pharmaceuticals, Inc. has a 52-week low of $30.23 and a 52-week high of $52.34. The firm has a 50-day moving average price of $32.81 and a two-hundred day moving average price of $37.02. The company has a current ratio of 8.47, a quick ratio of 8.82 and a debt-to-equity ratio of 2.12. The firm has a market cap of $5.32 billion, a P/E ratio of -11.00 and a beta of 0.28.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.12) by $0.46. The firm had revenue of $227.00 million during the quarter, compared to the consensus estimate of $140.97 million. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. Ionis Pharmaceuticals's revenue was down 30.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 earnings per share. On average, research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,367 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $32.31, for a total transaction of $44,167.77. Following the transaction, the executive vice president now directly owns 48,017 shares of the company's stock, valued at $1,551,429.27. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Patrick R. O'neil sold 6,165 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $31.62, for a total transaction of $194,937.30. Following the completion of the sale, the executive vice president now directly owns 57,452 shares of the company's stock, valued at $1,816,632.24. The trade was a 9.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,816 shares of company stock valued at $3,603,914. 2.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IONS. William Blair restated an "outperform" rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Piper Sandler lowered their price objective on Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada reissued an "outperform" rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, February 20th. StockNews.com cut Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.56.

About Ionis Pharmaceuticals

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; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.