Ionis Pharmaceuticals (NASDAQ:IONS) Reaches New 1-Year Low – Should You Sell?

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) shares hit a new 52-week low on Monday . The stock traded as low as $44.20 and last traded at $44.8020, with a volume of 225422 shares traded. The stock had previously closed at $44.44.

Wall Street Analyst Weigh In

IONS has been the topic of a number of analyst reports. Wall Street Zen downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $86.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, September 4th. Wolfe Research restated a “peer perform” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, July 16th. Wells Fargo & Company decreased their price objective on shares of Ionis Pharmaceuticals from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Finally, HC Wainwright lowered their target price on shares of Ionis Pharmaceuticals from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, September 8th. Seventeen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.50.

Ionis Pharmaceuticals Price Performance

The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of -13.22 and a beta of 0.42. The firm has a 50-day simple moving average of $55.55 and a two-hundred day simple moving average of $67.83. The company has a current ratio of 7.89, a quick ratio of 7.73 and a debt-to-equity ratio of 3.07.

Insider Activity

In related news, EVP C. Bennett sold 15,000 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $85.46, for a total value of $1,281,900.00. Following the completion of the transaction, the executive vice president owned 75,018 shares in the company, valued at $6,411,038.28. The trade was a 16.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Eugene Schneider sold 26,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $81.05, for a total value of $2,107,300.00. Following the transaction, the executive vice president owned 77,114 shares in the company, valued at $6,250,089.70. This represents a 25.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 141,752 shares of company stock worth $11,514,525. 1.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Capital World Investors increased its holdings in Ionis Pharmaceuticals by 41.2% in the 4th quarter. Capital World Investors now owns 17,961,299 shares of the company’s stock worth $1,420,918,000 after acquiring an additional 5,238,571 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ionis Pharmaceuticals by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 3,148,849 shares of the company’s stock valued at $249,158,000 after purchasing an additional 82,560 shares in the last quarter. Baker BROS. Advisors LP grew its position in shares of Ionis Pharmaceuticals by 216.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,791,841 shares of the company’s stock valued at $141,753,000 after purchasing an additional 1,225,043 shares during the period. Alyeska Investment Group L.P. boosted its holdings in Ionis Pharmaceuticals by 199.7% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company’s stock worth $112,427,000 after buying an additional 944,766 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Ionis Pharmaceuticals by 1.2% in the first quarter. Pictet Asset Management Holding SA now owns 1,434,995 shares of the company’s stock worth $107,077,000 after acquiring an additional 16,504 shares during the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company that discovers and develops medicines using antisense technology, which is designed to target RNA and influence the production of disease-related proteins. The company focuses on neurological, cardiovascular, metabolic and other serious diseases for which there remains a significant unmet medical need.

Ionis has developed several approved therapies, including SPINRAZA (nusinersen) for spinal muscular atrophy, QALSODY (tofersen) for a form of amyotrophic lateral sclerosis, TEGSEDI (inotersen) for hereditary transthyretin-mediated amyloidosis and WAYLIVRA (volanesorsen) for familial chylomicronemia syndrome in certain markets.