Scout Investments Inc. Increases Position in Ionis Pharmaceuticals, Inc. (IONS)
Scout Investments Inc. increased its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,842 shares of the company’s stock after acquiring an additional 5,297 shares during the quarter. Scout Investments Inc. owned about 115,665.81% of Ionis Pharmaceuticals worth $7,293,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC increased its position in Ionis Pharmaceuticals by 62.8% during 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 period. Aviva PLC bought a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $10,187,000. Allen Investment Management LLC increased its holdings in Ionis Pharmaceuticals by 64.7% in the 2nd quarter. Allen Investment Management LLC now owns 15,652 shares of the company’s stock valued at $796,000 after buying an additional 6,147 shares during the period. Russell Investments Group Ltd. increased its holdings in Ionis Pharmaceuticals by 21.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 20,077 shares of the company’s stock valued at $1,021,000 after buying an additional 3,538 shares during the period. Finally, Bank of Nova Scotia bought a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $1,526,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) opened at $55.88 on Friday. The company has a quick ratio of 5.00, a current ratio of 6.25 and a debt-to-equity ratio of 1.50. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $37.26 and a fifty-two week high of $65.51. The firm has a market cap of $6,973.60, a PE ratio of 372.53 and a beta of 2.90.
In related news, SVP Richard S. Geary sold 8,268 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $60.00, for a total transaction of $496,080.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Patrick R. O’neil sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $58.35, for a total transaction of $58,350.00. Following the transaction, the senior vice president now owns 11,433 shares in the company, valued at approximately $667,115.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,636 shares of company stock worth $5,723,915. 2.13% of the stock is owned by insiders.
Several equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Ionis Pharmaceuticals from $42.00 to $50.00 and gave the company a “hold” rating in a report on Wednesday, August 9th. Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. BMO Capital Markets boosted their price target on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday. Evercore ISI assumed coverage on shares of Ionis Pharmaceuticals in a report on Wednesday, August 16th. They issued an “outperform” rating and a $65.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $50.31.
Ionis Pharmaceuticals Profile
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.
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