Baillie Gifford & Co. Sells 220,673 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Baillie Gifford & Co. decreased its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 84.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,581 shares of the company's stock after selling 220,673 shares during the quarter. Baillie Gifford & Co.'s holdings in Ionis Pharmaceuticals were worth $1,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Ionis Pharmaceuticals by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company's stock valued at $27,000 after acquiring an additional 303 shares during the last quarter. nVerses Capital LLC acquired a new position in Ionis Pharmaceuticals in the second quarter valued at $29,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter worth about $37,000. Mather Group LLC. increased its position in shares of Ionis Pharmaceuticals by 35.8% in the second quarter. Mather Group LLC. now owns 911 shares of the company's stock worth $39,000 after acquiring an additional 240 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Ionis Pharmaceuticals in the 3rd quarter valued at $40,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Guggenheim lowered their price objective on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. BMO Capital Markets cut shares of Ionis Pharmaceuticals from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $67.00 to $60.00 in a research report on Friday, August 2nd. StockNews.com downgraded shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Tuesday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ionis Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $60.65.

Ionis Pharmaceuticals Trading Down 1.2 %

Shares of IONS stock traded down $0.45 during trading hours on Thursday, reaching $37.33. 604,179 shares of the stock traded hands, compared to its average volume of 1,308,972. The business has a fifty day moving average price of $40.09 and a 200 day moving average price of $42.84. Ionis Pharmaceuticals, Inc. has a 1-year low of $35.95 and a 1-year high of $54.44. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $5.89 billion, a PE ratio of -15.32 and a beta of 0.39.

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; 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.