Ionis Pharmaceuticals (NASDAQ:IONS) Reaches New 1-Year Low - Here's Why

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $29.61 and last traded at $30.09, with a volume of 96038 shares changing hands. The stock had previously closed at $31.15.

Analyst Upgrades and Downgrades

IONS has been the subject of a number of research reports. Guggenheim reiterated a "buy" rating on shares of Ionis Pharmaceuticals in a research report on Thursday. BMO Capital Markets reduced their price objective on shares of Ionis Pharmaceuticals from $60.00 to $45.00 and set a "market perform" rating for the company in a research note on Thursday, February 20th. William Blair restated an "outperform" rating on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. Redburn Atlantic assumed coverage on Ionis Pharmaceuticals in a research report on Monday. They issued a "neutral" rating and a $39.00 price target for the company. Finally, StockNews.com upgraded Ionis Pharmaceuticals to a "sell" rating in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ionis Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $58.37.

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Ionis Pharmaceuticals Price Performance

The company has a market capitalization of $4.31 billion, a PE ratio of -8.91 and a beta of 0.28. The company has a quick ratio of 8.82, a current ratio of 8.47 and a debt-to-equity ratio of 2.12. The firm's 50-day moving average is $32.20 and its 200-day moving average is $35.43.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.12) by $0.46. The firm had revenue of $227.00 million during the quarter, compared to analysts' expectations of $140.97 million. Ionis Pharmaceuticals had a negative return on equity of 100.05% and a negative net margin of 64.25%. The company's revenue for the quarter was down 30.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS. Equities analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Eric Swayze sold 7,154 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $32.84, for a total value of $234,937.36. Following the completion of the sale, the executive vice president now owns 45,670 shares of the company's stock, valued at approximately $1,499,802.80. The trade was a 13.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick R. O'neil sold 1,207 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $32.35, for a total value of $39,046.45. Following the transaction, the executive vice president now owns 56,245 shares in the company, valued at approximately $1,819,525.75. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,956 shares of company stock valued at $3,608,439. 2.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Ionis Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its holdings in Ionis Pharmaceuticals by 160.0% during the 4th quarter. Signaturefd LLC now owns 949 shares of the company's stock valued at $33,000 after buying an additional 584 shares during the last quarter. Huntington National Bank raised its stake in shares of Ionis Pharmaceuticals by 193.5% during the fourth quarter. Huntington National Bank now owns 951 shares of the company's stock valued at $33,000 after acquiring an additional 627 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Ionis Pharmaceuticals by 183.8% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $36,000 after purchasing an additional 671 shares during the period. Quantbot Technologies LP bought a new stake in shares of Ionis Pharmaceuticals in the third quarter worth about $51,000. Finally, Raiffeisen Bank International AG bought a new position in Ionis Pharmaceuticals during the 4th quarter valued at approximately $62,000. Hedge funds and other institutional investors own 93.86% of the company's stock.

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.