California Public Employees Retirement System boosted its holdings in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 34.1% during the third quarter, Holdings Channel.com reports. The fund owned 291,371 shares of the company’s stock after buying an additional 74,015 shares during the quarter. California Public Employees Retirement System’s holdings in Ionis Pharmaceuticals were worth $17,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. increased its stake in Ionis Pharmaceuticals by 283.0% in the 2nd quarter. Whittier Trust Co. now owns 383 shares of the company’s stock worth $25,000 after acquiring an additional 283 shares during the last quarter. CWM LLC increased its stake in Ionis Pharmaceuticals by 361.4% in the 2nd quarter. CWM LLC now owns 406 shares of the company’s stock worth $26,000 after acquiring an additional 318 shares during the last quarter. Ellis Investment Partners LLC bought a new position in Ionis Pharmaceuticals in the 2nd quarter worth about $32,000. Quest Capital Management Inc. ADV bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth about $36,000. Finally, Rehmann Capital Advisory Group increased its stake in Ionis Pharmaceuticals by 41.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock worth $38,000 after acquiring an additional 173 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

In other news, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total value of $1,573,440.00. Following the completion of the transaction, the chairman now owns 79,634 shares of the company’s stock, valued at approximately $5,695,423.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

A number of brokerages have weighed in on IONS. Needham & Company LLC restated a “buy” rating and issued a $87.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday. Zacks Investment Research lowered Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. BidaskClub lowered Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 5th. Piper Jaffray Companies decreased their target price on Ionis Pharmaceuticals from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Evercore ISI set a $76.00 target price on Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $73.45.

IONS opened at $57.06 on Friday. Ionis Pharmaceuticals Inc has a 12-month low of $48.27 and a 12-month high of $86.58. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $57.99 and a 200-day moving average price of $64.32. The stock has a market capitalization of $7.64 billion, a P/E ratio of 19.28, a PEG ratio of 15.24 and a beta of 1.90.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Wednesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.49. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The firm had revenue of $168.00 million during the quarter, compared to analyst estimates of $152.47 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The business’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts predict that Ionis Pharmaceuticals Inc will post 0.25 EPS for the current year.

Ionis Pharmaceuticals Company 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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Institutional Ownership by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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