Ionis Pharmaceuticals (NASDAQ:IONS) Reaches New 12-Month High – Still a Buy?

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $86.74 and last traded at $85.4380, with a volume of 74952 shares traded. The stock had previously closed at $86.33.

Trending Headlines about Ionis Pharmaceuticals

Here are the key news stories impacting Ionis Pharmaceuticals this week:

• Negative Sentiment: Ionis and AstraZeneca said the Phase 3 CARDIO-TTRansform trial for eplontersen in ATTR-CM did not meet its primary endpoint, a key clinical and commercial setback for the program. Article Title
• Negative Sentiment: Reuters reported that AstraZeneca-Ionis’ Wainua failed to meet the main goal of reducing cardiovascular deaths and recurring heart problems in the late-stage study, reinforcing concerns about the franchise. Article Title
• Negative Sentiment: Shares saw unusually large put-buying, suggesting some traders are positioning for further downside after the trial disappointment.
• Negative Sentiment: Two insiders disclosed stock sales under pre-arranged 10b5-1 plans, including Director Allene M. Diaz and EVP Holly B. Kordasiewicz, which may add to near-term investor caution.
• Neutral Sentiment: Needham lowered its price target to $86 from $105 but reiterated a Buy rating, indicating continued optimism despite the reduced valuation outlook. Article Title
• Neutral Sentiment: Some coverage notes that investors are debating whether the selloff creates a buying opportunity, but this is sentiment-driven rather than a fundamental catalyst. Article Title

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IONS. Needham & Company LLC reduced their price target on shares of Ionis Pharmaceuticals from $105.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday. The Goldman Sachs Group raised their target price on shares of Ionis Pharmaceuticals from $74.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Wall Street Zen upgraded Ionis Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Citigroup started coverage on Ionis Pharmaceuticals in a research report on Monday, May 18th. They set a “buy” rating and a $115.00 price target on the stock. Finally, Canaccord Genuity Group began coverage on Ionis Pharmaceuticals in a research report on Monday, April 20th. They set a “buy” rating and a $110.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ionis Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $100.80.

Ionis Pharmaceuticals Stock Performance

The company has a quick ratio of 4.09, a current ratio of 4.10 and a debt-to-equity ratio of 2.75. The company has a 50-day moving average price of $76.12 and a 200-day moving average price of $77.41. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of -31.05 and a beta of 0.36.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.29. The business had revenue of $246.09 million during the quarter, compared to analyst estimates of $195.56 million. Ionis Pharmaceuticals had a negative return on equity of 58.65% and a negative net margin of 30.91%.The business’s revenue for the quarter was up 86.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.93) EPS. As a group, equities research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.69 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Eric Swayze sold 10,602 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $79.18, for a total value of $839,466.36. Following the completion of the sale, the executive vice president owned 21,759 shares of the company’s stock, valued at $1,722,877.62. This represents a 32.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP C Frank Bennett sold 15,000 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $85.46, for a total transaction of $1,281,900.00. Following the completion of the transaction, the executive vice president owned 75,018 shares of the company’s stock, valued at $6,411,038.28. This represents a 16.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 244,038 shares of company stock valued at $19,139,399. Company insiders own 1.81% of the company’s stock.

Institutional Trading of Ionis Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in shares of Ionis Pharmaceuticals by 72.5% during the first quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company’s stock valued at $19,686,000 after acquiring an additional 274,310 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Ionis Pharmaceuticals by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 659,435 shares of the company’s stock worth $19,895,000 after purchasing an additional 39,794 shares during the period. Focus Partners Wealth boosted its stake in Ionis Pharmaceuticals by 30.1% during the 1st quarter. Focus Partners Wealth now owns 9,832 shares of the company’s stock valued at $297,000 after purchasing an additional 2,277 shares in the last quarter. Franklin Resources Inc. bought a new position in Ionis Pharmaceuticals during the 2nd quarter valued at $220,000. Finally, Prudential Financial Inc. increased its position in shares of Ionis Pharmaceuticals by 47.8% during the 2nd quarter. Prudential Financial Inc. now owns 9,254 shares of the company’s stock valued at $341,000 after purchasing an additional 2,991 shares during the period. 93.86% of the stock is owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.