Sicart Associates LLC Has $10.75 Million Holdings in Ionis Pharmaceuticals, Inc. $IONS

Sicart Associates LLC decreased its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 11.3% in the 3rd quarter, Holdings Channel reports. The firm owned 164,318 shares of the company’s stock after selling 20,978 shares during the quarter. Ionis Pharmaceuticals accounts for about 2.9% of Sicart Associates LLC’s portfolio, making the stock its 11th largest holding. Sicart Associates LLC’s holdings in Ionis Pharmaceuticals were worth $10,750,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of IONS. GAMMA Investing LLC increased its position in shares of Ionis Pharmaceuticals by 44.2% during the third quarter. GAMMA Investing LLC now owns 1,341 shares of the company’s stock worth $88,000 after buying an additional 411 shares during the period. Corient Private Wealth LLC grew its holdings in Ionis Pharmaceuticals by 0.3% during the 2nd quarter. Corient Private Wealth LLC now owns 237,840 shares of the company’s stock worth $9,397,000 after acquiring an additional 707 shares during the period. Osaic Holdings Inc. raised its position in shares of Ionis Pharmaceuticals by 123.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,296 shares of the company’s stock worth $209,000 after acquiring an additional 2,923 shares in the last quarter. Orion Porfolio Solutions LLC acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter valued at about $221,000. Finally, Marex Group plc bought a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter valued at about $3,294,000. 93.86% of the stock is owned by institutional investors.

Ionis Pharmaceuticals Stock Performance

Shares of IONS stock opened at $78.37 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 2.78 and a debt-to-equity ratio of 0.96. The firm has a fifty day simple moving average of $75.32 and a two-hundred day simple moving average of $56.99. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $83.61. The firm has a market capitalization of $12.69 billion, a PE ratio of -46.37 and a beta of 0.30.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.35. The firm had revenue of $156.72 million for the quarter, compared to analyst estimates of $131.75 million. Ionis Pharmaceuticals had a negative net margin of 26.45% and a negative return on equity of 44.26%. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.95) earnings per share. Analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Richard S. Geary sold 89,249 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $75.11, for a total value of $6,703,492.39. Following the completion of the sale, the executive vice president directly owned 59,657 shares of the company’s stock, valued at $4,480,837.27. This represents a 59.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Shannon L. Devers sold 16,777 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $80.91, for a total value of $1,357,427.07. Following the sale, the executive vice president owned 17,494 shares of the company’s stock, valued at $1,415,439.54. This trade represents a 48.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 504,866 shares of company stock worth $35,744,766 in the last 90 days. Company insiders own 2.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IONS. The Goldman Sachs Group upgraded Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $45.00 to $65.00 in a report on Friday, September 26th. Wells Fargo & Company lifted their price objective on shares of Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. HC Wainwright increased their target price on shares of Ionis Pharmaceuticals from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Cowen reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, December 3rd. Finally, BMO Capital Markets upgraded shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $40.00 to $70.00 in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.19.

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; 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.