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

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $42.39 and last traded at $42.6850, with a volume of 681,168 shares. The stock had previously closed at $43.67.

Analyst Upgrades and Downgrades

IONS has been the topic of several recent analyst reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, July 16th. Canaccord Genuity Group decreased their price target on shares of Ionis Pharmaceuticals from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, September 8th. Royal Bank Of Canada decreased their price target on shares of Ionis Pharmaceuticals from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Guggenheim lowered their price target on Ionis Pharmaceuticals from $89.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, September 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research note on Friday, July 17th. Eighteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.14.

Ionis Pharmaceuticals Price Performance

The company has a quick ratio of 7.73, a current ratio of 7.89 and a debt-to-equity ratio of 3.07. The stock’s 50 day moving average price is $52.24 and its two-hundred day moving average price is $64.60. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of -12.34 and a beta of 0.38.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, Director Michael Hayden acquired 5,000 shares of the business’s stock in a transaction on Friday, July 31st. The stock was bought at an average price of $51.60 per share, for a total transaction of $258,000.00. Following the acquisition, the director owned 24,000 shares in the company, valued at approximately $1,238,400. The trade was a 26.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.81% of the company’s stock.

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Cassaday & Co Wealth Management LLC purchased a new stake in Ionis Pharmaceuticals during the 1st quarter valued at approximately $30,000. Allworth Financial LP acquired a new stake in Ionis Pharmaceuticals during the 2nd quarter worth approximately $41,000. Silvant Capital Management LLC acquired a new stake in Ionis Pharmaceuticals during the 2nd quarter worth approximately $43,000. Archer Investment Corp acquired a new stake in Ionis Pharmaceuticals during the 2nd quarter worth approximately $48,000. Finally, Fortitude Family Office LLC grew its stake in shares of Ionis Pharmaceuticals by 4,411.8% in the 3rd quarter. Fortitude Family Office LLC now owns 767 shares of the company’s stock valued at $34,000 after purchasing an additional 750 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 focused on discovering and developing RNA-targeted medicines. The company’s antisense technology is designed to selectively bind to RNA and modify the production of disease-associated proteins. Its research programs address neurological, cardiovascular, metabolic and other serious diseases.

Ionis has developed medicines both independently and through collaborations with larger pharmaceutical companies. Its products and partnered therapies have included treatments for spinal muscular atrophy, hereditary transthyretin-mediated amyloidosis, familial chylomicronemia syndrome and transthyretin amyloidosis with cardiomyopathy or polyneuropathy.