Tocqueville Asset Management L.P. Sells 54,730 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Tocqueville Asset Management L.P. lowered its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 352,140 shares of the company's stock after selling 54,730 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.22% of Ionis Pharmaceuticals worth $12,311,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IONS. Victory Capital Management Inc. raised its holdings in Ionis Pharmaceuticals by 5.9% during the third quarter. Victory Capital Management Inc. now owns 18,350 shares of the company's stock worth $735,000 after purchasing an additional 1,020 shares in the last quarter. Quest Partners LLC increased its position in shares of Ionis Pharmaceuticals by 94.8% during the 3rd quarter. Quest Partners LLC now owns 2,674 shares of the company's stock valued at $107,000 after purchasing an additional 1,301 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter worth $42,000. Commerce Bank lifted its holdings in shares of Ionis Pharmaceuticals by 1.6% in the third quarter. Commerce Bank now owns 77,553 shares of the company's stock valued at $3,107,000 after buying an additional 1,211 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Ionis Pharmaceuticals by 21.0% during the third quarter. Advisors Asset Management Inc. now owns 6,140 shares of the company's stock valued at $246,000 after buying an additional 1,066 shares in the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.

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Ionis Pharmaceuticals Stock Up 0.5 %

IONS traded up $0.18 during trading on Friday, reaching $32.91. 1,999,130 shares of the stock traded hands, compared to its average volume of 1,651,351. The stock's 50-day simple moving average is $32.63 and its two-hundred day simple moving average is $36.44. 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 $30.23 and a fifty-two week high of $52.34. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of -10.83 and a beta of 0.28.

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

Insider Activity

In other news, CEO Brett P. Monia sold 38,843 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $31.65, for a total transaction of $1,229,380.95. Following the transaction, the chief executive officer now owns 180,683 shares of the company's stock, valued at approximately $5,718,616.95. This represents a 17.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick R. O'neil sold 1,207 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was 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 of the company's stock, valued at approximately $1,819,525.75. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,956 shares of company stock worth $3,608,439. 2.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on IONS shares. StockNews.com upgraded shares of Ionis Pharmaceuticals to a "sell" rating in a research report on Tuesday. William Blair reissued an "outperform" rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. BMO Capital Markets decreased their price target on shares of Ionis Pharmaceuticals from $60.00 to $45.00 and set a "market perform" rating on the stock in a research report on Thursday, February 20th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, February 20th. Finally, Needham & Company LLC reissued a "buy" rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $59.56.

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.