Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 59.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 17,741 shares of the company's stock after selling 26,515 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Ionis Pharmaceuticals were worth $711,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co grew its stake in shares of Ionis Pharmaceuticals by 2.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 41,880 shares of the company's stock valued at $1,817,000 after buying an additional 1,099 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Ionis Pharmaceuticals by 948.8% in the first quarter. Advisors Asset Management Inc. now owns 3,178 shares of the company's stock valued at $138,000 after acquiring an additional 2,875 shares in the last quarter. Tidal Investments LLC purchased a new position in Ionis Pharmaceuticals during the 1st quarter worth approximately $885,000. Swedbank AB acquired a new position in shares of Ionis Pharmaceuticals in the 1st quarter valued at $6,183,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Ionis Pharmaceuticals by 70.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 24,083 shares of the company's stock valued at $1,044,000 after buying an additional 9,965 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Barclays raised their target price on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd. StockNews.com downgraded Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price target on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, August 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Ionis Pharmaceuticals from $33.00 to $37.00 and gave the company a "sell" rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ionis Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $60.65.
Check Out Our Latest Stock Analysis on IONS
Insider Activity at Ionis Pharmaceuticals
In related news, EVP Eric Swayze sold 1,194 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following the sale, the executive vice president now owns 33,713 shares in the company, valued at $1,278,396.96. The trade was a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brett P. Monia sold 6,630 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total value of $252,271.50. Following the completion of the sale, the chief executive officer now owns 167,393 shares in the company, valued at $6,369,303.65. This trade represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,877 shares of company stock worth $299,578. Company insiders own 2.71% of the company's stock.
Ionis Pharmaceuticals Stock Down 0.5 %
Shares of IONS traded down $0.17 during mid-day trading on Friday, hitting $35.73. 622,385 shares of the company's stock were exchanged, compared to its average volume of 1,330,294. The company has a market cap of $5.64 billion, a PE ratio of -14.71 and a beta of 0.39. Ionis Pharmaceuticals, Inc. has a 52 week low of $33.33 and a 52 week high of $54.44. The company has a 50-day simple moving average of $38.21 and a 200 day simple moving average of $42.35. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82.
About Ionis Pharmaceuticals
(
Free Report)
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.
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