Commerce Bank Increases Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Commerce Bank boosted its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,553 shares of the company’s stock after purchasing an additional 1,211 shares during the quarter. Commerce Bank owned about 0.05% of Ionis Pharmaceuticals worth $3,107,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Great Point Partners LLC purchased a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $15,728,000. International Assets Investment Management LLC lifted its holdings in Ionis Pharmaceuticals by 3,287.0% during the third 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 during the period. Logos Global Management LP bought a new stake in Ionis Pharmaceuticals during the 2nd quarter valued at $14,298,000. Zimmer Partners LP purchased a new position in Ionis Pharmaceuticals in the first quarter valued at about $11,718,000. Finally, Marshall Wace LLP raised its holdings in Ionis Pharmaceuticals by 1,021.5% in the second quarter. Marshall Wace LLP now owns 173,199 shares of the company’s stock worth $8,255,000 after purchasing an additional 157,756 shares in the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Guggenheim decreased their target price on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group lifted their price target on Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Finally, 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 report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ionis Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $60.65.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 6,630 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the completion of the sale, the chief executive officer now directly owns 167,393 shares of the company’s stock, valued at $6,369,303.65. This trade represents a 3.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eric Swayze sold 1,194 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following the sale, the executive vice president now owns 33,713 shares of the company’s stock, valued at approximately $1,278,396.96. The trade was a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,197 shares of company stock valued at $315,310 over the last ninety days. Corporate insiders own 2.71% of the company’s stock.

Ionis Pharmaceuticals Stock Up 0.2 %

Ionis Pharmaceuticals stock opened at $34.01 on Friday. The stock has a market capitalization of $5.37 billion, a PE ratio of -13.94 and a beta of 0.39. The business has a 50 day simple moving average of $38.87 and a 200-day simple moving average of $42.52. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82. Ionis Pharmaceuticals, Inc. has a 12 month low of $33.33 and a 12 month high of $54.44.

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.