Utah Retirement Systems Raises Holdings in Ionis Pharmaceuticals, Inc. (IONS)

Utah Retirement Systems increased its holdings in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,600 shares of the company’s stock after acquiring an additional 600 shares during the quarter. Utah Retirement Systems’ holdings in Ionis Pharmaceuticals were worth $1,149,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. boosted its position in Ionis Pharmaceuticals by 105.7% during the first quarter. Nomura Holdings Inc. now owns 103,933 shares of the company’s stock worth $4,179,000 after acquiring an additional 53,395 shares during the last quarter. Parallel Advisors LLC boosted its position in Ionis Pharmaceuticals by 62.8% during the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after acquiring an additional 800 shares during the last quarter. Wellington Management Group LLP boosted its position in Ionis Pharmaceuticals by 56.1% during the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock worth $376,295,000 after acquiring an additional 3,364,621 shares during the last quarter. Aviva PLC acquired a new position in Ionis Pharmaceuticals during the second quarter worth about $10,187,000. Finally, Credit Suisse AG boosted its position in Ionis Pharmaceuticals by 79.2% during the first quarter. Credit Suisse AG now owns 385,145 shares of the company’s stock worth $15,483,000 after acquiring an additional 170,192 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Ionis Pharmaceuticals from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Wednesday, August 9th. TheStreet raised shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research note on Wednesday, July 5th. Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday, July 26th. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Evercore ISI began coverage on shares of Ionis Pharmaceuticals in a report on Wednesday, August 16th. They issued an “outperform” rating and a $65.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Ionis Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $49.11.

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) opened at 51.32 on Friday. The stock has a market cap of $6.38 billion, a P/E ratio of 246.73 and a beta of 3.13. The company has a 50-day moving average of $51.73 and a 200 day moving average of $48.15. Ionis Pharmaceuticals, Inc. has a 52-week low of $24.58 and a 52-week high of $60.01.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The business’s revenue for the quarter was up 170.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) EPS. Equities research analysts forecast that Ionis Pharmaceuticals, Inc. will post ($0.17) EPS for the current fiscal year.

In other news, SVP C Frank Bennett sold 10,000 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $59.29, for a total transaction of $592,900.00. Following the completion of the transaction, the senior vice president now owns 25,041 shares of the company’s stock, valued at $1,484,680.89. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Stanley T. Crooke sold 11,000 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $55.35, for a total transaction of $608,850.00. Following the transaction, the chairman now directly owns 48,014 shares of the company’s stock, valued at approximately $2,657,574.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,309 shares of company stock valued at $2,997,692. 1.86% of the stock is currently owned by corporate insiders.

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About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.

Institutional Ownership by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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