Sicart Associates LLC Reduces Stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Sicart Associates LLC reduced its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,821 shares of the company’s stock after selling 5,702 shares during the period. Ionis Pharmaceuticals comprises 2.3% of Sicart Associates LLC’s investment portfolio, making the stock its 17th biggest position. Sicart Associates LLC’s holdings in Ionis Pharmaceuticals were worth $6,496,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IONS. GAMMA Investing LLC increased its stake in Ionis Pharmaceuticals by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after purchasing an additional 303 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Ionis Pharmaceuticals during the second quarter worth $37,000. Capital Performance Advisors LLP purchased a new position in Ionis Pharmaceuticals during the third quarter worth $40,000. Prospera Private Wealth LLC purchased a new position in Ionis Pharmaceuticals during the third quarter worth $42,000. Finally, Quantbot Technologies LP purchased a new position in Ionis Pharmaceuticals during the third quarter worth $51,000. 93.86% of the stock is owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Stock Performance

Shares of IONS stock opened at $32.28 on Friday. The firm’s 50-day simple moving average is $35.79 and its two-hundred day simple moving average is $41.28. Ionis Pharmaceuticals, Inc. has a 52 week low of $32.26 and a 52 week high of $52.49. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86.

Analysts Set New Price Targets

IONS has been the topic of several analyst reports. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research report on Wednesday. Guggenheim lowered their price objective on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.65.

Insider Activity at Ionis Pharmaceuticals

In other news, Director Michael R. Hayden bought 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $36.22 per share, for a total transaction of $181,100.00. Following the purchase, the director now owns 35,219 shares in the company, valued at approximately $1,275,632.18. The trade was a 16.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett P. Monia sold 6,630 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total transaction of $252,271.50. Following the transaction, the chief executive officer now directly owns 167,393 shares of the company’s stock, valued at $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.71% of the stock is currently owned by company insiders.

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.