Eversept Partners LP Trims Stock Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Eversept Partners LP cut its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 54.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,952 shares of the company's stock after selling 256,403 shares during the period. Ionis Pharmaceuticals accounts for about 0.7% of Eversept Partners LP's investment portfolio, making the stock its 28th largest position. Eversept Partners LP owned approximately 0.14% of Ionis Pharmaceuticals worth $7,515,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of Ionis Pharmaceuticals by 160.0% in the fourth quarter. Signaturefd LLC now owns 949 shares of the company's stock worth $33,000 after buying an additional 584 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Ionis Pharmaceuticals by 193.5% during the fourth quarter. Huntington National Bank now owns 951 shares of the company's stock valued at $33,000 after acquiring an additional 627 shares during the period. Lindbrook Capital LLC increased its position in shares of Ionis Pharmaceuticals by 183.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $36,000 after purchasing an additional 671 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Ionis Pharmaceuticals during the 4th quarter valued at about $107,000. Finally, Vontobel Holding Ltd. boosted its position in Ionis Pharmaceuticals by 6.6% in the fourth quarter. Vontobel Holding Ltd. now owns 5,865 shares of the company's stock valued at $205,000 after buying an additional 363 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company's stock.

Ionis Pharmaceuticals Stock Performance

IONS stock traded up $0.13 during trading hours on Friday, hitting $29.70. 1,015,576 shares of the stock were exchanged, compared to its average volume of 1,527,660. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $52.34. 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 capitalization of $4.72 billion, a P/E ratio of -9.77 and a beta of 0.29. The company has a 50-day simple moving average of $30.68 and a two-hundred day simple moving average of $33.93.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IONS shares. Redburn Atlantic began coverage on shares of Ionis Pharmaceuticals in a research note on Monday, March 31st. They issued a "neutral" rating and a $39.00 target price for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a research note on Thursday, February 20th. JPMorgan Chase & Co. lowered their price target on shares of Ionis Pharmaceuticals from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Tuesday, April 15th. Finally, HC Wainwright assumed coverage on Ionis Pharmaceuticals in a research note on Monday, April 7th. They issued a "buy" rating and a $45.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $56.72.

Insiders Place Their Bets

In other news, EVP Patrick R. O'neil sold 1,207 shares of Ionis Pharmaceuticals stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $32.35, for a total value of $39,046.45. Following the completion of the sale, the executive vice president now owns 56,245 shares in the company, valued at $1,819,525.75. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brett P. Monia sold 13,242 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $32.45, for a total value of $429,702.90. Following the transaction, the chief executive officer now owns 219,526 shares of the company's stock, valued at $7,123,618.70. This trade represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,167 shares of company stock worth $2,010,458. 2.71% of the stock is currently owned by insiders.

Ionis Pharmaceuticals Company 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.