State of New Jersey Common Pension Fund D Reduces Stock Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

State of New Jersey Common Pension Fund D decreased its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,923 shares of the company’s stock after selling 11,259 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Ionis Pharmaceuticals worth $3,818,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. NEXT Financial Group Inc boosted its holdings in shares of Ionis Pharmaceuticals by 6.7% in the 4th quarter. NEXT Financial Group Inc now owns 2,829 shares of the company’s stock worth $160,000 after purchasing an additional 178 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Ionis Pharmaceuticals by 0.4% in the 4th quarter. Treasurer of the State of North Carolina now owns 50,115 shares of the company’s stock worth $2,834,000 after buying an additional 180 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Ionis Pharmaceuticals by 0.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 22,800 shares of the company’s stock worth $1,289,000 after buying an additional 200 shares during the period. Xponance Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 3.2% in the 4th quarter. Xponance Inc. now owns 6,780 shares of the company’s stock worth $383,000 after buying an additional 209 shares during the period. Finally, Icon Wealth Partners LLC lifted its holdings in shares of Ionis Pharmaceuticals by 5.1% in the 1st quarter. Icon Wealth Partners LLC now owns 5,671 shares of the company’s stock worth $255,000 after buying an additional 273 shares during the period. Hedge funds and other institutional investors own 84.14% of the company’s stock.

Several equities research analysts have weighed in on IONS shares. Barclays lowered their target price on Ionis Pharmaceuticals from $52.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, March 23rd. BMO Capital Markets dropped their price target on Ionis Pharmaceuticals from $90.00 to $76.00 and set an “outperform” rating on the stock in a research note on Monday, March 29th. TheStreet lowered shares of Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a research report on Wednesday, February 24th. Royal Bank of Canada lowered their target price on shares of Ionis Pharmaceuticals from $76.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, March 23rd. Finally, Morgan Stanley lowered their target price on shares of Ionis Pharmaceuticals from $38.00 to $35.00 and set an “underweight” rating for the company in a research note on Thursday, May 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $57.59.

Shares of NASDAQ IONS opened at $36.69 on Wednesday. The firm has a market cap of $5.17 billion, a PE ratio of 76.44 and a beta of 1.42. The firm has a fifty day moving average of $42.54 and a 200 day moving average of $51.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 10.28 and a current ratio of 10.37. Ionis Pharmaceuticals, Inc. has a one year low of $35.10 and a one year high of $64.37.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, May 5th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.16). Ionis Pharmaceuticals had a return on equity of 6.57% and a net margin of 7.82%. The company had revenue of $112.00 million during the quarter, compared to analysts’ expectations of $134.93 million. During the same period in the previous year, the firm posted ($0.35) EPS. Ionis Pharmaceuticals’s revenue was down 15.8% compared to the same quarter last year. On average, equities analysts predict that Ionis Pharmaceuticals, Inc. will post -0.53 EPS for the current fiscal year.

Ionis Pharmaceuticals Company 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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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

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