NJ State Employees Deferred Compensation Plan Sells 5,000 Shares of Ionis Pharmaceuticals, Inc. (IONS)

NJ State Employees Deferred Compensation Plan reduced its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,000 shares of the company’s stock after selling 5,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Ionis Pharmaceuticals were worth $2,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IONS. Parallel Advisors LLC grew its stake in shares of 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. Hanseatic Management Services Inc. grew its stake in shares of Ionis Pharmaceuticals by 1.2% in the second quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock worth $177,000 after acquiring an additional 41 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ionis Pharmaceuticals by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock worth $190,000 after acquiring an additional 311 shares during the last quarter. WFG Advisors LP grew its stake in shares of Ionis Pharmaceuticals by 77.2% in the second quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock worth $193,000 after acquiring an additional 1,655 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Ionis Pharmaceuticals in the second quarter worth $222,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

IONS has been the topic of a number of recent research reports. TheStreet raised Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research note on Wednesday, July 5th. Stifel Nicolaus reissued a “hold” rating and issued a $50.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, October 13th. Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Wednesday, July 12th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 target price (up from $59.56) on shares of Ionis Pharmaceuticals in a research note on Tuesday, July 25th. Finally, Barclays PLC initiated coverage on Ionis Pharmaceuticals in a research note on Wednesday, September 6th. They issued 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 issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Ionis Pharmaceuticals presently has an average rating of “Hold” and an average price target of $49.64.

In other news, SVP Patrick R. O’neil sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $55.00, for a total value of $55,000.00. Following the sale, the senior vice president now owns 10,633 shares in the company, valued at $584,815. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP C Frank Bennett sold 12,250 shares of the company’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $65.00, for a total value of $796,250.00. Following the completion of the sale, the senior vice president now owns 27,291 shares in the company, valued at approximately $1,773,915. The disclosure for this sale can be found here. Insiders sold 97,636 shares of company stock worth $5,665,565 in the last 90 days. Company insiders own 2.13% of the company’s stock.

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Ionis Pharmaceuticals, Inc. (NASDAQ IONS) traded up 1.84% on Wednesday, reaching $58.16. The company’s stock had a trading volume of 405,097 shares. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 279.62 and a beta of 3.12. Ionis Pharmaceuticals, Inc. has a 1-year low of $24.58 and a 1-year high of $65.51. The firm’s 50 day moving average price is $56.68 and its 200-day moving average price is $51.46.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The company had revenue of $104.15 million during the quarter, compared to analysts’ expectations of $93.29 million. During the same quarter in the previous year, the company earned ($0.47) EPS. The firm’s quarterly revenue was up 170.7% compared to the same quarter last year. Equities analysts forecast that Ionis Pharmaceuticals, Inc. will post ($0.14) 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.

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

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