228,630 Shares of Ionis Pharmaceuticals, Inc. $IONS Bought by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. bought a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 228,630 shares of the company’s stock, valued at approximately $10,208,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in shares of Ionis Pharmaceuticals during the third quarter valued at about $27,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ionis Pharmaceuticals during the first quarter worth about $30,000. Root Financial Partners LLC bought a new stake in shares of Ionis Pharmaceuticals in the third quarter worth about $30,000. Fortitude Family Office LLC grew its stake in shares of Ionis Pharmaceuticals by 4,411.8% in the third quarter. Fortitude Family Office LLC now owns 767 shares of the company’s stock worth $34,000 after purchasing an additional 750 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in Ionis Pharmaceuticals during the 2nd quarter valued at about $41,000. 93.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Shannon Devers sold 1,357 shares of the business’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $43.54, for a total transaction of $59,083.78. Following the sale, the executive vice president owned 17,811 shares in the company, valued at approximately $775,490.94. The trade was a 7.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.81% of the company’s stock.

Ionis Pharmaceuticals Price Performance

Shares of IONS stock opened at $43.52 on Monday. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of -12.58 and a beta of 0.43. The business’s fifty day moving average is $49.02 and its 200 day moving average is $66.82. Ionis Pharmaceuticals, Inc. has a twelve month low of $42.08 and a twelve month high of $86.74. The company has a quick ratio of 7.73, a current ratio of 7.89 and a debt-to-equity ratio of 3.07.

Analyst Ratings Changes

IONS has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on Ionis Pharmaceuticals from $110.00 to $104.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 8th. The Goldman Sachs Group decreased their target price on Ionis Pharmaceuticals from $69.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, September 8th. Citigroup restated a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, October 21st. Wall Street Zen lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of Ionis Pharmaceuticals from $76.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, September 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ionis Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $89.48.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on discovering and developing medicines using antisense technology. Its platform is designed to selectively target RNA and regulate the production of disease-related proteins. The company develops therapies for neurological, cardiovascular and metabolic, and rare diseases.

Ionis has developed and commercialized medicines both independently and through collaborations with larger pharmaceutical companies. Its marketed or partnered products include Spinraza (nusinersen) for spinal muscular atrophy, Tegsedi (inotersen) and Wainua (eplontersen) for hereditary transthyretin amyloidosis, and Tryngolza (olezarsen) for familial chylomicronemia syndrome.