Ionis Pharmaceuticals (NASDAQ:IONS) Reaches New 52-Week Low – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts have commented on the company. William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Finally, Guggenheim decreased their target price 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.65.

Ionis Pharmaceuticals Stock Performance

The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of -13.71 and a beta of 0.35. The stock has a fifty day moving average price of $36.22 and a 200-day moving average price of $41.63.

Insiders Place Their Bets

In other news, EVP Eric Swayze sold 1,194 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total value of $45,276.48. Following the completion of the transaction, the executive vice president now owns 33,713 shares in the company, valued at approximately $1,278,396.96. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brett P. Monia sold 6,630 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the sale, the chief executive officer now owns 167,393 shares in the company, valued at approximately $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,877 shares of company stock worth $299,578 over the last three months. 2.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in shares of Ionis Pharmaceuticals by 83.9% in the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after acquiring an additional 303 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Ionis Pharmaceuticals during the 2nd quarter worth $37,000. Capital Performance Advisors LLP bought a new position in Ionis Pharmaceuticals in the 3rd quarter valued at $40,000. Prospera Private Wealth LLC acquired a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at $42,000. Finally, Quantbot Technologies LP bought a new stake in shares of Ionis Pharmaceuticals during the third quarter worth $51,000. 93.86% of the stock is owned by 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.