Everence Capital Management Inc. Takes Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Everence Capital Management Inc. bought a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,770 shares of the company’s stock, valued at approximately $237,000.

A number of other large investors have also bought and sold shares of IONS. Great Point Partners LLC acquired a new position in Ionis Pharmaceuticals in the second quarter worth $15,728,000. International Assets Investment Management LLC lifted its position in Ionis Pharmaceuticals by 3,287.0% during the 3rd quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock worth $13,171,000 after buying an additional 319,065 shares in the last quarter. Logos Global Management LP bought a new stake in Ionis Pharmaceuticals during the 2nd quarter worth about $14,298,000. Baker BROS. Advisors LP acquired a new stake in Ionis Pharmaceuticals in the 3rd quarter valued at about $8,952,000. Finally, Geode Capital Management LLC raised its stake in shares of Ionis Pharmaceuticals by 7.4% in the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock worth $106,922,000 after acquiring an additional 183,814 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors.

Ionis Pharmaceuticals Price Performance

Shares of IONS opened at $34.10 on Thursday. The stock has a 50 day simple moving average of $36.41 and a 200 day simple moving average of $41.80. Ionis Pharmaceuticals, Inc. has a 52-week low of $33.33 and a 52-week high of $54.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. The firm has a market capitalization of $5.38 billion, a PE ratio of -13.98 and a beta of 0.35.

Insider Activity

In other news, EVP Eric Swayze sold 1,194 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total transaction of $45,276.48. Following the completion of the transaction, the executive vice president now directly owns 33,713 shares of the company’s stock, valued at $1,278,396.96. This trade represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael R. Hayden acquired 5,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $36.22 per share, for a total transaction of $181,100.00. Following the transaction, the director now owns 35,219 shares of the company’s stock, valued at $1,275,632.18. This represents a 16.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 7,877 shares of company stock worth $299,578 over the last quarter. 2.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on IONS shares. Wells Fargo & Company lowered their price target on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Guggenheim dropped 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, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ionis Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $60.65.

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.