Peregrine Capital Management LLC trimmed its position in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 12.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,030 shares of the company’s stock after selling 28,312 shares during the quarter. Peregrine Capital Management LLC owned 0.14% of Ionis Pharmaceuticals worth $11,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in Ionis Pharmaceuticals by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 1,491,065 shares of the company’s stock valued at $70,439,000 after purchasing an additional 47,323 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Ionis Pharmaceuticals by 545.8% during the 1st quarter. Federated Hermes Inc. now owns 58,235 shares of the company’s stock valued at $2,753,000 after buying an additional 49,217 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Ionis Pharmaceuticals by 13.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 22,600 shares of the company’s stock valued at $1,069,000 after buying an additional 2,600 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Ionis Pharmaceuticals by 7.0% during the 1st quarter. Legal & General Group Plc now owns 435,038 shares of the company’s stock valued at $20,629,000 after buying an additional 28,404 shares in the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Ionis Pharmaceuticals during the 1st quarter valued at $71,000. 84.04% of the stock is currently owned by institutional investors.

IONS has been the topic of a number of research reports. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 13th. BidaskClub cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. Citigroup boosted their target price on shares of Ionis Pharmaceuticals from $71.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 5th. Royal Bank of Canada initiated coverage on shares of Ionis Pharmaceuticals in a report on Tuesday, May 12th. They set an “outperform” rating and a $71.00 target price on the stock. Finally, William Blair restated a “hold” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, June 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $73.47.

In related news, Chairman Stanley T. Crooke sold 10,000 shares of the stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $58.33, for a total value of $583,300.00. Following the completion of the sale, the chairman now directly owns 26,935 shares of the company’s stock, valued at approximately $1,571,118.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Stanley T. Crooke sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $57.90, for a total transaction of $868,500.00. Following the completion of the sale, the chairman now directly owns 26,935 shares of the company’s stock, valued at $1,559,536.50. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock valued at $4,123,750 in the last ninety days. Insiders own 2.40% of the company’s stock.

Shares of NASDAQ IONS traded down $1.46 during midday trading on Friday, hitting $57.56. 1,046,819 shares of the company’s stock traded hands, compared to its average volume of 572,625. Ionis Pharmaceuticals Inc has a 1 year low of $39.32 and a 1 year high of $73.09. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 52.33 and a beta of 1.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 9.83 and a current ratio of 9.91. The firm has a fifty day moving average of $59.93 and a 200 day moving average of $56.25.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.23). Ionis Pharmaceuticals had a net margin of 16.79% and a return on equity of 12.50%. The business had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $161.59 million. During the same period in the previous year, the company earned $0.62 EPS. Ionis Pharmaceuticals’s revenue for the quarter was down 55.2% compared to the same quarter last year. On average, equities analysts anticipate that Ionis Pharmaceuticals Inc will post -0.48 earnings per share for the current year.

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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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

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