Amova Asset Management Americas Inc. Has $7.40 Million Stock Holdings in Ionis Pharmaceuticals, Inc. $IONS

Amova Asset Management Americas Inc. trimmed its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 18.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,571 shares of the company’s stock after selling 21,021 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Ionis Pharmaceuticals were worth $7,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in IONS. Quarry LP bought a new position in Ionis Pharmaceuticals during the third quarter valued at $38,000. Hilton Head Capital Partners LLC bought a new position in Ionis Pharmaceuticals during the fourth quarter valued at $47,000. Laurel Wealth Advisors LLC bought a new position in Ionis Pharmaceuticals during the fourth quarter valued at $47,000. Johnson Financial Group Inc. bought a new position in Ionis Pharmaceuticals during the third quarter valued at $44,000. Finally, Los Angeles Capital Management LLC bought a new position in Ionis Pharmaceuticals during the fourth quarter valued at $52,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ionis Pharmaceuticals

In related news, Director Spencer R. Berthelsen sold 8,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $75.67, for a total transaction of $605,360.00. Following the completion of the sale, the director directly owned 156,013 shares in the company, valued at $11,805,503.71. This represents a 4.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $76.27, for a total value of $381,350.00. Following the sale, the director owned 51,344 shares of the company’s stock, valued at $3,916,006.88. This represents a 8.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 256,100 shares of company stock worth $18,613,444 over the last three months. Corporate insiders own 1.81% of the company’s stock.

Ionis Pharmaceuticals Trading Up 1.4%

NASDAQ IONS opened at $74.58 on Wednesday. The stock’s 50-day simple moving average is $74.98 and its two-hundred day simple moving average is $77.81. Ionis Pharmaceuticals, Inc. has a twelve month low of $34.78 and a twelve month high of $86.74. The company has a quick ratio of 4.09, a current ratio of 4.10 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of -36.03 and a beta of 0.37.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.29. Ionis Pharmaceuticals had a negative return on equity of 58.65% and a negative net margin of 30.91%.The business had revenue of $246.09 million for the quarter, compared to the consensus estimate of $195.57 million. During the same quarter last year, the business posted ($0.93) earnings per share. The company’s revenue for the quarter was up 86.4% on a year-over-year basis. Research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IONS has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Ionis Pharmaceuticals from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Raymond James Financial initiated coverage on Ionis Pharmaceuticals in a report on Friday, April 10th. They issued an “outperform” rating and a $104.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $111.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, April 30th. Royal Bank Of Canada raised their price target on Ionis Pharmaceuticals from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $125.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ionis Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $100.90.

Ionis Pharmaceuticals Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.