FORA Capital LLC Makes New Investment in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

FORA Capital LLC purchased a new position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,081 shares of the company’s stock, valued at approximately $204,000.

Several other large investors have also modified their holdings of IONS. Great Point Partners LLC acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter valued at $15,728,000. International Assets Investment Management LLC boosted its holdings in shares of Ionis Pharmaceuticals by 3,287.0% in the 3rd quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock valued at $13,171,000 after buying an additional 319,065 shares in the last quarter. Logos Global Management LP acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter valued at $14,298,000. Marshall Wace LLP boosted its holdings in shares of Ionis Pharmaceuticals by 1,021.5% in the 2nd quarter. Marshall Wace LLP now owns 173,199 shares of the company’s stock valued at $8,255,000 after buying an additional 157,756 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Ionis Pharmaceuticals in the 1st quarter valued at $6,183,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Ionis Pharmaceuticals Stock Performance

Shares of IONS opened at $35.73 on Friday. The company has a 50-day simple moving average of $38.21 and a 200-day simple moving average of $42.35. 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 company has a market capitalization of $5.64 billion, a PE ratio of -14.64 and a beta of 0.39. Ionis Pharmaceuticals, Inc. has a 52-week low of $33.33 and a 52-week high of $54.44.

Insider Activity

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,194 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,278,396.96. This trade represents a 3.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brett P. Monia sold 6,630 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total transaction of $252,271.50. Following the transaction, the chief executive officer now owns 167,393 shares of the company’s stock, valued at $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,877 shares of company stock worth $299,578 in the last 90 days. 2.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Guggenheim lowered their target price on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Barclays increased their price target on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Piper Sandler decreased their price target on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, September 26th. Finally, StockNews.com cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.65.

About Ionis Pharmaceuticals

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.