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

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $25.52 and last traded at $25.79, with a volume of 101201 shares changing hands. The stock had previously closed at $27.09.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IONS shares. Needham & Company LLC reissued a "buy" rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Tuesday. Redburn Atlantic initiated coverage on Ionis Pharmaceuticals in a research note on Monday, March 31st. They set a "neutral" rating and a $39.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Ionis Pharmaceuticals from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, March 24th. HC Wainwright began coverage on Ionis Pharmaceuticals in a research note on Monday, April 7th. They issued a "buy" rating and a $45.00 price target on the stock. Finally, William Blair reissued an "outperform" rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $56.72.

Ionis Pharmaceuticals Price Performance

The stock has a 50 day moving average price of $31.22 and a two-hundred day moving average price of $34.61. The company has a debt-to-equity ratio of 2.12, a current ratio of 8.47 and a quick ratio of 8.82. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -9.18 and a beta of 0.29.

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Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings results 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. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. The company had revenue of $227.00 million for the quarter, compared to analyst estimates of $140.97 million. During the same period in the prior year, the firm earned $0.12 earnings per share. The business's revenue for the quarter was down 30.2% compared to the same quarter last year. As a group, analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Brett P. Monia sold 38,843 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $31.65, for a total transaction of $1,229,380.95. Following the completion of the transaction, the chief executive officer now owns 180,683 shares in the company, valued at approximately $5,718,616.95. The trade was a 17.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Patrick R. O'neil sold 1,207 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $32.35, for a total value of $39,046.45. Following the completion of the transaction, the executive vice president now directly owns 56,245 shares in the company, valued at $1,819,525.75. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,956 shares of company stock worth $3,608,439 in the last ninety days. 2.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IONS. Signaturefd LLC lifted its stake in Ionis Pharmaceuticals by 160.0% during the fourth quarter. Signaturefd LLC now owns 949 shares of the company's stock worth $33,000 after purchasing an additional 584 shares during the last quarter. Huntington National Bank raised its holdings in Ionis Pharmaceuticals by 193.5% during the fourth quarter. Huntington National Bank now owns 951 shares of the company's stock worth $33,000 after purchasing an additional 627 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Ionis Pharmaceuticals by 183.8% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $36,000 after buying an additional 671 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Ionis Pharmaceuticals in the 4th quarter valued at $62,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of Ionis Pharmaceuticals in the 4th quarter valued at $107,000. 93.86% of the stock is owned by institutional investors and hedge funds.

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.