Nicollet Investment Management Inc. Grows Stock Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

by · The Cerbat Gem

Nicollet Investment Management Inc. raised its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Free Report) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,402 shares of the company’s stock after buying an additional 294 shares during the quarter. Nicollet Investment Management Inc.’s holdings in Ionis Pharmaceuticals were worth $817,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IONS. Nicola Wealth Management LTD. grew its holdings in Ionis Pharmaceuticals by 17.6% in the third quarter. Nicola Wealth Management LTD. now owns 87,000 shares of the company’s stock valued at $3,485,000 after purchasing an additional 13,000 shares during the period. Victory Capital Management Inc. grew its stake in shares of Ionis Pharmaceuticals by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 18,350 shares of the company’s stock valued at $735,000 after buying an additional 1,020 shares during the period. Aigen Investment Management LP purchased a new position in shares of Ionis Pharmaceuticals in the 3rd quarter worth $465,000. Privium Fund Management B.V. increased its stake in Ionis Pharmaceuticals by 1.4% during the third quarter. Privium Fund Management B.V. now owns 250,744 shares of the company’s stock worth $10,045,000 after acquiring an additional 3,477 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IONS. Leerink Partnrs raised shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 24th. Barclays boosted their target price on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Piper Sandler reduced their price target on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday. Bank of America boosted their price objective on Ionis Pharmaceuticals from $67.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

Read Our Latest Research Report on IONS

Ionis Pharmaceuticals Stock Down 7.8 %

IONS stock opened at $34.34 on Friday. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of -14.07 and a beta of 0.39. Ionis Pharmaceuticals, Inc. has a 52 week low of $34.24 and a 52 week high of $54.44. The firm’s 50-day moving average is $39.62 and its two-hundred day moving average is $42.75.

Insider Buying and Selling

In related news, EVP Eric Swayze sold 1,194 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total value of $45,276.48. Following the completion of the sale, the executive vice president now owns 33,713 shares in the company, valued at approximately $1,278,396.96. This represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett P. Monia sold 6,630 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total transaction of $252,271.50. Following the transaction, the chief executive officer now owns 167,393 shares in the company, valued at approximately $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,197 shares of company stock valued at $315,310. 2.71% of the stock is owned by corporate insiders.

Ionis Pharmaceuticals Profile

(Free Report)

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.

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