Ionis Pharmaceuticals (NASDAQ:IONS) Hits New 1-Year Low – Time to Sell?

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $30.90 and last traded at $31.50, with a volume of 74774 shares traded. The stock had previously closed at $31.48.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IONS shares. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research report on Wednesday, January 15th. StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Wells Fargo & Company decreased their price target on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Piper Sandler dropped their price target on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.65.

Ionis Pharmaceuticals Trading Down 2.3 %

The company’s fifty day moving average is $34.49 and its 200-day moving average is $39.16. The stock has a market cap of $4.87 billion, a PE ratio of -12.64 and a beta of 0.34. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82.

Insider Buying and Selling

In related news, EVP Patrick R. O’neil sold 6,165 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $31.62, for a total transaction of $194,937.30. Following the sale, the executive vice president now owns 57,452 shares in the company, valued at approximately $1,816,632.24. This trade represents a 9.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brett P. Monia sold 38,843 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $31.65, for a total transaction of $1,229,380.95. Following the completion of the transaction, the chief executive officer now owns 180,683 shares of the company’s stock, valued at approximately $5,718,616.95. This trade represents a 17.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,609 shares of company stock valued at $3,564,867 over the last ninety days. Company insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in Ionis Pharmaceuticals by 7.4% during the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock worth $106,922,000 after purchasing an additional 183,814 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Ionis Pharmaceuticals by 967.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 141,917 shares of the company’s stock valued at $4,961,000 after buying an additional 128,619 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Ionis Pharmaceuticals by 222.5% during the 4th quarter. SG Americas Securities LLC now owns 23,927 shares of the company’s stock valued at $836,000 after buying an additional 16,508 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Ionis Pharmaceuticals by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock valued at $57,807,000 after acquiring an additional 114,914 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Ionis Pharmaceuticals by 13.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 650,779 shares of the company’s stock worth $26,070,000 after acquiring an additional 77,909 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.

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.