Baillie Gifford & Co. Decreases Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Baillie Gifford & Co. reduced its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 84.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 39,581 shares of the company’s stock after selling 220,673 shares during the period. Baillie Gifford & Co.’s holdings in Ionis Pharmaceuticals were worth $1,586,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IONS. ARK Investment Management LLC boosted its stake in shares of Ionis Pharmaceuticals by 1.7% in the third quarter. ARK Investment Management LLC now owns 1,384,269 shares of the company’s stock worth $55,454,000 after acquiring an additional 23,244 shares during the last quarter. TD Asset Management Inc boosted its stake in Ionis Pharmaceuticals by 6.1% during the 2nd quarter. TD Asset Management Inc now owns 952,762 shares of the company’s stock worth $45,409,000 after purchasing an additional 54,400 shares during the last quarter. Candriam S.C.A. grew its holdings in shares of Ionis Pharmaceuticals by 4.0% during the second quarter. Candriam S.C.A. now owns 948,266 shares of the company’s stock worth $45,192,000 after buying an additional 36,369 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Ionis Pharmaceuticals by 12.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 571,763 shares of the company’s stock valued at $24,786,000 after buying an additional 62,230 shares during the last quarter. Finally, Great Point Partners LLC purchased a new position in shares of Ionis Pharmaceuticals in the second quarter worth about $15,728,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Stock Up 0.0 %

Shares of NASDAQ IONS opened at $37.78 on Thursday. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. The business’s 50 day moving average is $40.09 and its two-hundred day moving average is $42.84. Ionis Pharmaceuticals, Inc. has a 52-week low of $35.95 and a 52-week high of $54.44. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -15.48 and a beta of 0.39.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. TD Cowen upped their price objective on shares of Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Finally, BMO Capital Markets lowered Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $67.00 to $60.00 in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.71.

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.