Ionis Pharmaceuticals, Inc. $IONS Shares Newly Acquired by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC acquired a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 83,753 shares of the company’s stock, valued at approximately $3,740,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IONS. Cassaday & Co Wealth Management LLC purchased a new stake in Ionis Pharmaceuticals during the first quarter worth approximately $30,000. Allworth Financial LP acquired a new position in Ionis Pharmaceuticals in the second quarter valued at approximately $41,000. Silvant Capital Management LLC acquired a new position in Ionis Pharmaceuticals in the second quarter valued at approximately $43,000. Archer Investment Corp acquired a new position in Ionis Pharmaceuticals in the second quarter valued at approximately $48,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Ionis Pharmaceuticals in the third quarter valued at approximately $27,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Analyst Upgrades and Downgrades

IONS has been the topic of a number of research analyst reports. Raymond James Financial set a $79.00 price objective on shares of Ionis Pharmaceuticals in a report on Tuesday, October 20th. Needham & Company LLC restated a “buy” rating and issued a $86.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, September 4th. Wells Fargo & Company dropped their target price on shares of Ionis Pharmaceuticals from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Guggenheim cut their price target on shares of Ionis Pharmaceuticals from $89.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, September 15th. Finally, Barclays reduced their price target on shares of Ionis Pharmaceuticals from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Nineteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.48.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, EVP Shannon Devers sold 1,357 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $43.54, for a total value of $59,083.78. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.81% of the stock is currently owned by company insiders.

Ionis Pharmaceuticals Stock Down 1.1%

Shares of NASDAQ IONS opened at $44.39 on Friday. The stock has a market cap of $7.38 billion, a PE ratio of -12.83 and a beta of 0.38. The company has a quick ratio of 7.73, a current ratio of 7.89 and a debt-to-equity ratio of 3.07. Ionis Pharmaceuticals, Inc. has a 52-week low of $42.08 and a 52-week high of $86.74. The business has a 50-day moving average price of $49.32 and a 200 day moving average price of $67.01.

Ionis Pharmaceuticals 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.