Victory Capital Management Inc. Sells 307 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Victory Capital Management Inc. decreased its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 1.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,330 shares of the company’s stock after selling 307 shares during the quarter. Victory Capital Management Inc.’s holdings in Ionis Pharmaceuticals were worth $826,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky lifted its holdings in Ionis Pharmaceuticals by 70.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 24,083 shares of the company’s stock valued at $1,044,000 after acquiring an additional 9,965 shares during the period. Entropy Technologies LP bought a new position in Ionis Pharmaceuticals in the first quarter valued at about $630,000. TD Asset Management Inc lifted its holdings in Ionis Pharmaceuticals by 6.5% in the fourth quarter. TD Asset Management Inc now owns 956,852 shares of the company’s stock valued at $48,407,000 after acquiring an additional 58,000 shares during the period. Edgestream Partners L.P. bought a new position in Ionis Pharmaceuticals in the first quarter valued at about $765,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Ionis Pharmaceuticals by 13.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 260,702 shares of the company’s stock worth $13,189,000 after buying an additional 31,025 shares during the period. Institutional investors own 93.86% of the company’s stock.

Insider Activity

In related news, Director Joseph Klein III sold 12,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director now owns 16,346 shares in the company, valued at approximately $817,300. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Joseph Klein III sold 12,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director now owns 16,346 shares in the company, valued at approximately $817,300. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard S. Geary sold 2,430 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $48.00, for a total value of $116,640.00. Following the transaction, the executive vice president now owns 85,508 shares of the company’s stock, valued at approximately $4,104,384. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,750 shares of company stock valued at $732,371. 2.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IONS shares. Leerink Partners raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $53.00 to $62.00 in a research report on Wednesday, July 24th. BMO Capital Markets cut Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $67.00 to $60.00 in a research report on Friday, August 2nd. TD Cowen lifted their price objective on Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays lifted their price objective on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their price target on Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.68.

Ionis Pharmaceuticals Stock Performance

NASDAQ IONS opened at $42.76 on Friday. The company has a market cap of $6.24 billion, a P/E ratio of -16.01 and a beta of 0.39. The company has a debt-to-equity ratio of 4.67, a quick ratio of 7.51 and a current ratio of 7.61. The business’s 50 day moving average price is $47.16 and its 200-day moving average price is $43.82. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Thursday, August 1st. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.47. The firm had revenue of $225.00 million for the quarter, compared to the consensus estimate of $152.35 million. Ionis Pharmaceuticals had a negative return on equity of 115.66% and a negative net margin of 44.90%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. Sell-side analysts predict that Ionis Pharmaceuticals, Inc. will post -3.68 earnings per share for the current year.

Ionis Pharmaceuticals Profile

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.