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

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $33.29 and last traded at $33.53, with a volume of 145496 shares trading hands. The stock had previously closed at $34.10.

Analyst Ratings Changes

IONS has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. StockNews.com cut Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Tuesday, November 12th. Piper Sandler reduced their price objective on Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. William Blair reiterated an "outperform" rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Finally, Guggenheim reduced their price objective on Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.65.

Ionis Pharmaceuticals Price Performance

The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. The company has a market cap of $5.28 billion, a price-to-earnings ratio of -13.71 and a beta of 0.35. The company has a fifty day simple moving average of $36.33 and a two-hundred day simple moving average of $41.75.

Insider Activity at Ionis Pharmaceuticals

In related news, CEO Brett P. Monia sold 6,630 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total transaction of $252,271.50. Following the sale, the chief executive officer now owns 167,393 shares of the company's stock, valued at $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Hayden acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $36.22 per share, for a total transaction of $181,100.00. Following the purchase, the director now owns 35,219 shares of the company's stock, valued at approximately $1,275,632.18. The trade was a 16.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 7,877 shares of company stock valued at $299,578 over the last quarter. Insiders own 2.71% of the company's stock.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Several large investors have recently added to or reduced their stakes in IONS. GAMMA Investing LLC lifted its position in Ionis Pharmaceuticals by 83.9% during the third quarter. GAMMA Investing LLC now owns 664 shares of the company's stock worth $27,000 after buying an additional 303 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Ionis Pharmaceuticals during the second quarter worth about $37,000. Capital Performance Advisors LLP purchased a new position in Ionis Pharmaceuticals during the third quarter worth about $40,000. Prospera Private Wealth LLC purchased a new position in Ionis Pharmaceuticals during the third quarter worth about $42,000. Finally, Quantbot Technologies LP purchased a new position in Ionis Pharmaceuticals during the third quarter worth about $51,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

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.