Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC trimmed its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 13.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,866 shares of the company's stock after selling 11,927 shares during the quarter. Granite Investment Partners LLC's holdings in Ionis Pharmaceuticals were worth $2,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of IONS. Norges Bank acquired a new position in Ionis Pharmaceuticals in the 4th quarter valued at $59,948,000. Vanguard Group Inc. raised its holdings in Ionis Pharmaceuticals by 9.4% during the fourth quarter. Vanguard Group Inc. now owns 16,472,539 shares of the company's stock worth $575,880,000 after purchasing an additional 1,416,781 shares in the last quarter. Geode Capital Management LLC lifted its position in Ionis Pharmaceuticals by 7.4% in the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company's stock valued at $106,922,000 after purchasing an additional 183,814 shares during the period. Sovran Advisors LLC purchased a new stake in Ionis Pharmaceuticals in the 4th quarter valued at approximately $5,617,000. Finally, Assenagon Asset Management S.A. increased its position in Ionis Pharmaceuticals by 967.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 141,917 shares of the company's stock worth $4,961,000 after purchasing an additional 128,619 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Stock Up 0.2 %

NASDAQ IONS traded up $0.05 during trading hours on Friday, hitting $28.40. The company had a trading volume of 842,691 shares, compared to its average volume of 1,519,660. The firm's 50 day moving average is $30.86 and its 200 day moving average is $34.24. The company has a debt-to-equity ratio of 2.12, a current ratio of 8.47 and a quick ratio of 8.82. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $23.95 and a fifty-two week high of $52.34. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of -9.34 and a beta of 0.29.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IONS shares. StockNews.com raised Ionis Pharmaceuticals to a "sell" rating in a report on Tuesday, March 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, February 20th. William Blair reaffirmed an "outperform" rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Needham & Company LLC reissued a "buy" rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a research note on Tuesday. Finally, Guggenheim reaffirmed a "buy" rating on shares of Ionis Pharmaceuticals in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $56.72.

Insider Transactions at Ionis Pharmaceuticals

In related news, EVP Patrick R. O'neil sold 6,165 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $31.62, for a total value of $194,937.30. Following the completion of the transaction, the executive vice president now directly owns 57,452 shares in the company, valued at approximately $1,816,632.24. This trade represents a 9.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett P. Monia sold 38,843 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $31.65, for a total value of $1,229,380.95. Following the sale, the chief executive officer now owns 180,683 shares in the company, valued at $5,718,616.95. The trade was a 17.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,167 shares of company stock valued at $2,010,458. 2.71% of the stock is currently owned by corporate insiders.

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.