Ionis Pharmaceuticals (NASDAQ:IONS) Reaches New 52-Week Low – Should You Sell?

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s stock price hit a new 52-week low during trading on Monday. The stock traded as low as $32.01 and last traded at $31.7520, with a volume of 477,866 shares trading hands. The stock had previously closed at $39.42.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IONS shares. JPMorgan Chase & Co. reduced their price target on Ionis Pharmaceuticals from $76.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, September 22nd. UBS Group initiated coverage on Ionis Pharmaceuticals in a research note on Thursday, October 15th. They issued a “buy” rating and a $88.00 price target for the company. Barclays lowered their price target on Ionis Pharmaceuticals from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. The Goldman Sachs Group cut their price objective on shares of Ionis Pharmaceuticals from $69.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Ionis Pharmaceuticals from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Nineteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.48.

Ionis Pharmaceuticals Stock Down 26.6%

The company has a debt-to-equity ratio of 3.07, a current ratio of 7.89 and a quick ratio of 7.73. The firm has a market capitalization of $4.81 billion, a P/E ratio of -8.17 and a beta of 0.43. The firm’s fifty day moving average price is $46.80 and its 200-day moving average price is $65.88.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Monday, November 9th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.56. The firm had revenue of $242.72 million for the quarter, compared to analysts’ expectations of $181.57 million. Ionis Pharmaceuticals had a negative return on equity of 111.08% and a negative net margin of 64.76%. The firm’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.80) earnings per share. As a group, equities research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.62 earnings per share for the current year.

Insider Activity

In other news, EVP Shannon Devers sold 1,357 shares of Ionis Pharmaceuticals stock in a transaction on Friday, October 16th. The stock was sold at an average price of $43.54, for a total transaction of $59,083.78. Following the transaction, the executive vice president directly owned 17,811 shares in the company, valued at approximately $775,490.94. This trade represents a 7.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.81% of the company’s stock.

Institutional Trading of Ionis Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ionis Pharmaceuticals during the 1st quarter worth $30,000. Allworth Financial LP acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth $41,000. Silvant Capital Management LLC acquired a new stake in shares of Ionis Pharmaceuticals during the second quarter worth $43,000. Archer Investment Corp acquired a new stake in shares of Ionis Pharmaceuticals during the second quarter worth $48,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Ionis Pharmaceuticals during the third quarter worth $27,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

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.