Ionis Pharmaceuticals (NASDAQ:IONS) Sets New 12-Month Low – Should You Sell?

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s share price hit a new 52-week low on Thursday . The company traded as low as $32.48 and last traded at $32.64, with a volume of 375661 shares trading hands. The stock had previously closed at $33.21.

Analysts Set New Price Targets

IONS has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Guggenheim reduced their price target on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.65.

Ionis Pharmaceuticals Stock Down 2.0 %

The firm has a market cap of $5.14 billion, a price-to-earnings ratio of -13.30 and a beta of 0.35. The firm has a 50 day moving average of $35.91 and a 200 day moving average of $41.34. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86.

Insider Transactions at Ionis Pharmaceuticals

In other news, CEO Brett P. Monia sold 6,630 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total transaction of $252,271.50. Following the transaction, the chief executive officer now owns 167,393 shares in the company, valued at approximately $6,369,303.65. This represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric Swayze sold 1,194 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 33,713 shares of the company’s stock, valued at approximately $1,278,396.96. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Ionis Pharmaceuticals by 3.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,624 shares of the company’s stock valued at $363,000 after acquiring an additional 261 shares in the last quarter. Nicollet Investment Management Inc. grew its position in Ionis Pharmaceuticals by 1.5% in the 3rd quarter. Nicollet Investment Management Inc. now owns 20,402 shares of the company’s stock valued at $817,000 after purchasing an additional 294 shares during the period. Amalgamated Bank increased its stake in Ionis Pharmaceuticals by 3.1% during the 3rd quarter. Amalgamated Bank now owns 9,957 shares of the company’s stock valued at $399,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 last quarter. Finally, Itau Unibanco Holding S.A. lifted its stake in shares of Ionis Pharmaceuticals by 40.9% in the third quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company’s stock valued at $43,000 after buying an additional 314 shares in the last quarter. 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.