Ionis Pharmaceuticals, Inc. $IONS Stock Acquired by CenterBook Partners LP

CenterBook Partners LP raised its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 25.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,240 shares of the company’s stock after buying an additional 22,960 shares during the period. CenterBook Partners LP owned about 0.07% of Ionis Pharmaceuticals worth $5,012,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IONS. Alyeska Investment Group L.P. raised its holdings in shares of Ionis Pharmaceuticals by 199.7% during the second quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company’s stock valued at $112,427,000 after acquiring an additional 944,766 shares in the last quarter. Groupama Asset Managment raised its stake in Ionis Pharmaceuticals by 7.5% in the first quarter. Groupama Asset Managment now owns 824,540 shares of the company’s stock worth $61,915,000 after buying an additional 57,651 shares in the last quarter. Bank of America Corp DE purchased a new stake in Ionis Pharmaceuticals in the second quarter worth about $62,718,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Ionis Pharmaceuticals in the second quarter worth about $54,253,000. Finally, Eversept Partners LP lifted its holdings in Ionis Pharmaceuticals by 17.4% in the first quarter. Eversept Partners LP now owns 632,100 shares of the company’s stock worth $47,464,000 after buying an additional 93,882 shares during the period. Institutional investors own 93.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IONS. Wall Street Zen downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Raymond James Financial set a $79.00 target price on Ionis Pharmaceuticals in a research note on Tuesday, October 20th. Needham & Company LLC restated a “buy” rating and set a $86.00 price target on shares of Ionis Pharmaceuticals in a research report on Friday, September 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, September 24th. Finally, UBS Group initiated coverage on Ionis Pharmaceuticals in a report on Thursday, October 15th. They issued a “buy” rating and a $88.00 price objective for the company. Nineteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.48.

Insider Activity

In other news, EVP Shannon Devers sold 1,357 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $43.54, for a total value of $59,083.78. Following the sale, the executive vice president directly owned 17,811 shares of the company’s stock, valued at $775,490.94. The trade was a 7.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.81% of the company’s stock.

Ionis Pharmaceuticals Price Performance

Shares of IONS opened at $39.42 on Friday. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $38.31 and a fifty-two week high of $86.74. The firm’s 50-day simple moving average is $46.80 and its two-hundred day simple moving average is $65.88. The stock has a market cap of $6.55 billion, a PE ratio of -11.39 and a beta of 0.43. The company has a debt-to-equity ratio of 3.07, a quick ratio of 7.73 and a current ratio of 7.89.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals is a biotechnology company that discovers and develops RNA-targeted medicines, with a focus on antisense oligonucleotides. Its medicines are designed to act on RNA and change the production of proteins linked to disease. The company’s research and development programs span neurological, cardiovascular, metabolic and rare diseases.

Ionis has developed medicines that it commercializes itself and products advanced or marketed with pharmaceutical partners. Its medicines and partnered products include treatments for conditions such as spinal muscular atrophy and transthyretin amyloidosis.