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

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $33.29 and last traded at $33.53, with a volume of 145496 shares. The stock had previously closed at $34.10.

Analyst Upgrades and Downgrades

IONS has been the topic of several analyst reports. StockNews.com lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Guggenheim decreased their target price on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.65.

Ionis Pharmaceuticals Trading Down 1.9 %

The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82. The business’s 50-day moving average is $36.22 and its two-hundred day moving average is $41.63. The firm has a market cap of $5.28 billion, a P/E ratio of -13.71 and a beta of 0.35.

Insider Activity at Ionis Pharmaceuticals

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

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Ionis Pharmaceuticals by 83.9% in the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after purchasing an additional 303 shares during the period. Itau Unibanco Holding S.A. bought a new position in Ionis Pharmaceuticals in the 2nd quarter valued at about $37,000. Capital Performance Advisors LLP acquired a new stake in Ionis Pharmaceuticals during the third quarter worth approximately $40,000. Prospera Private Wealth LLC bought a new stake in shares of Ionis Pharmaceuticals during the third quarter worth approximately $42,000. Finally, Quantbot Technologies LP acquired a new position in shares of Ionis Pharmaceuticals in the third quarter valued at approximately $51,000. 93.86% of the stock is owned by institutional investors.

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.