Pinnacle Associates Ltd. decreased its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 5.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,572,045 shares of the company’s stock after selling 83,972 shares during the period. Ionis Pharmaceuticals accounts for 1.5% of Pinnacle Associates Ltd.’s holdings, making the stock its 8th largest position. Pinnacle Associates Ltd. owned 1.30% of Ionis Pharmaceuticals worth $75,191,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Massey Quick & Co. LLC bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth approximately $143,000. Teacher Retirement System of Texas boosted its position in shares of Ionis Pharmaceuticals by 31.1% in the second quarter. Teacher Retirement System of Texas now owns 8,577 shares of the company’s stock worth $200,000 after buying an additional 2,036 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Ionis Pharmaceuticals by 0.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 9,055 shares of the company’s stock worth $211,000 after buying an additional 82 shares during the period. HL Financial Services LLC bought a new position in shares of Ionis Pharmaceuticals during the third quarter worth approximately $216,000. Finally, Numeric Investors LLC bought a new position in shares of Ionis Pharmaceuticals during the second quarter worth approximately $240,000. Institutional investors and hedge funds own 87.76% of the company’s stock.
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) traded up 1.48% on Monday, hitting $46.09. The stock had a trading volume of 775,934 shares. The company’s market cap is $5.59 billion. The firm’s 50-day moving average is $46.55 and its 200-day moving average is $38.87. Ionis Pharmaceuticals, Inc. has a 52-week low of $19.59 and a 52-week high of $57.00.
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A number of brokerages have recently commented on IONS. BMO Capital Markets lifted their target price on Ionis Pharmaceuticals from $61.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, December 28th. Jefferies Group LLC reiterated a “sell” rating and issued a $17.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, January 6th. Cowen and Company restated a “hold” rating on shares of Ionis Pharmaceuticals in a report on Friday, January 6th. Piper Jaffray Companies restated a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, November 9th. Finally, Janney Montgomery Scott restated a “neutral” rating and set a $54.00 price objective (up previously from $50.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, December 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $46.09.
In other Ionis Pharmaceuticals news, SVP Patrick R. O’neil sold 1,500 shares of the company’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $46.17, for a total value of $69,255.00. Following the completion of the transaction, the senior vice president now directly owns 12,449 shares of the company’s stock, valued at approximately $574,770.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brett P. Monia sold 2,502 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $46.29, for a total transaction of $115,817.58. Following the completion of the transaction, the senior vice president now directly owns 9,287 shares of the company’s stock, valued at $429,895.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,953 shares of company stock valued at $3,845,673. 1.86% of the stock is currently owned by corporate insiders.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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