M&T Bank Corp Sells 546 Shares of Ionis Pharmaceuticals, Inc. (IONS)
M&T Bank Corp lowered its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,130 shares of the company’s stock after selling 546 shares during the period. M&T Bank Corp’s holdings in Ionis Pharmaceuticals were worth $617,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nomura Holdings Inc. lifted its holdings in Ionis Pharmaceuticals by 105.7% in 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 lifted its holdings in Ionis Pharmaceuticals by 62.8% in 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. Aviva PLC bought a new position in Ionis Pharmaceuticals in the second quarter worth about $10,187,000. Credit Suisse AG lifted its holdings in Ionis Pharmaceuticals by 79.2% in 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. Finally, Allen Investment Management LLC lifted its holdings in Ionis Pharmaceuticals by 64.7% in the second quarter. Allen Investment Management LLC now owns 15,652 shares of the company’s stock worth $796,000 after acquiring an additional 6,147 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $69.00 target price on shares of Ionis Pharmaceuticals in a report on Monday. Barclays PLC cut their target price on shares of Ionis Pharmaceuticals from $55.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, September 21st. Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a report on Sunday, September 17th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a report on Tuesday, September 12th. Finally, Evercore ISI assumed coverage on Ionis Pharmaceuticals in a report on Wednesday, August 16th. They set an “outperform” rating and a $65.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Ionis Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $49.11.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 16,500 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $52.45, for a total value of $865,425.00. Following the completion of the sale, the chairman now owns 53,014 shares of the company’s stock, valued at $2,780,584.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stanley T. Crooke sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $52.00, for a total transaction of $780,000.00. Following the completion of the sale, the chief executive officer now directly owns 43,014 shares of the company’s stock, valued at approximately $2,236,728. The disclosure for this sale can be found here. Insiders sold 81,000 shares of company stock worth $4,356,650 over the last 90 days. 1.86% of the stock is currently owned by company insiders.
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Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) opened at 56.01 on Friday. Ionis Pharmaceuticals, Inc. has a 52-week low of $24.58 and a 52-week high of $60.01. The firm has a 50-day moving average of $53.04 and a 200 day moving average of $48.86. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 269.28 and a beta of 3.12.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The business had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. During the same quarter in the prior year, the company earned ($0.47) earnings per share. The company’s quarterly revenue was up 170.7% on a year-over-year basis. On average, equities research analysts forecast that Ionis Pharmaceuticals, Inc. will post ($0.17) earnings per share for the current year.
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.
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