Voya Investment Management LLC Decreases Position in Ionis Pharmaceuticals, Inc. (IONS)
Voya Investment Management LLC lowered its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 2.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,737 shares of the company’s stock after selling 973 shares during the period. Voya Investment Management LLC’s holdings in Ionis Pharmaceuticals were worth $2,428,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Parallel Advisors LLC grew its position in shares of Ionis Pharmaceuticals by 62.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after purchasing an additional 800 shares in the last quarter. Hanseatic Management Services Inc. grew its position in shares of Ionis Pharmaceuticals by 1.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock worth $177,000 after purchasing an additional 41 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth approximately $222,000. Cheyne Capital Management UK LLP acquired a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth approximately $249,000. Finally, Private Advisor Group LLC acquired a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth approximately $263,000. Institutional investors and hedge funds own 89.24% of the company’s stock.
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In related news, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the completion of the transaction, the insider now directly owns 28,884,540 shares in the company, valued at approximately $231,076,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Stanley T. Crooke sold 11,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred 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 sale, the chairman now owns 48,014 shares of the company’s stock, valued at $2,657,574.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,500 shares of company stock valued at $3,546,225. 2.13% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on IONS shares. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Monday, July 31st. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $30.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, October 6th. TheStreet upgraded shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. Needham & Company LLC restated a “buy” rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a research report on Sunday, September 17th. Finally, Barclays PLC started coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, September 6th. They set an “equal weight” rating and a $55.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.04.
Ionis Pharmaceuticals, Inc. (IONS) opened at 61.15 on Tuesday. The company has a 50-day moving average of $54.75 and a 200 day moving average of $49.79. Ionis Pharmaceuticals, Inc. has a 52 week low of $24.58 and a 52 week high of $63.20. The company has a market cap of $7.60 billion, a P/E ratio of 293.99 and a beta of 3.12.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the 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 company had revenue of $104.15 million for the quarter, compared to the consensus estimate of $93.29 million. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. The company’s revenue for the quarter was up 170.7% compared to the same quarter last year. On average, equities analysts forecast that Ionis Pharmaceuticals, Inc. will post ($0.16) EPS for the current fiscal 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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