Ionis Pharmaceuticals Inc (NASDAQ:IONS) finished Wednesday with an addition of $0.85 to close at $47.13, an upside of 1.84 percent. An average of 1,366,560 shares of common stock have been traded in the last five days. There was a gain of $4.59 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 1,018,795 shares traded, while the 50-day average volume stands at 944,368.
IONS stock has increased by 15.35% in the last month. The company shares reached their 1-month lowest point of $39.08 on 09/06/23. With the stock rallying to its 52-week high on 09/27/23, shares of the company touched a low of $32.69 and a high of $47.74 in 52 weeks. It has reached a new high 12 times so far this year and achieved 24.78% or $9.36 in price. In spite of this, the price is down -1.28% from the 52-week high.
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Insider Transactions
IONS stock investors should be aware that Ionis Pharmaceuticals Inc (IONS) stock had its last reported insider trading activity 58 days ago on Aug 01. In this transaction, the insider spent $26,970. Director, KLEIN JOSEPH III, disposed of 3,555 shares at a price of $42.00 on Jul 18. The insider now owns more than $149,310 worth of shares. Prior to that, Chief Executive Officer Monia Brett P went on to Sale 18,650 shares at $42.25 each on Jul 07. An amount of $787,953 was transacted.
Valuation Metrics
Ionis Pharmaceuticals Inc (IONS) stock’s beta is 0.45. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 10.71, the price-to-book (PB) ratio at 15.75.
Financial Health
The quick ratio of Ionis Pharmaceuticals Inc for the three months ended June 29 was 9.00, and the current ratio was 9.09, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 4.67 and a total debt to equity ratio of 4.69 for the quarter ending June 29. Ionis Pharmaceuticals Inc’s EBITDA margin for the year ending June 29 is -66.07%, while its operating margin for the same period stands at -74.76%. Its gross profit as reported stood at $573.25 million compared to revenue of $587.37 million.
Earnings Surprise
For the three-month period that ended June 29, Ionis Pharmaceuticals Inc had $8.81 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$124.32 million in the quarter, while revenues of -$16.96 million were grew 280.67%. The analyst consensus anticipated Ionis Pharmaceuticals Inc’s latest quarter earnings to come in at -$0.9 per share, but it turned out to be -$0.6, a 33.30% surprise. For the quarter, EBITDA amounted to -$90.47 million. Shareholders own equity worth $143.33 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Ionis Pharmaceuticals Inc (IONS) price momentum. RSI 9-day as of the close on 27 September was 83.91%, suggesting the stock is Overbought, with historical volatility in this time frame at 42.85%.
As of today, IONS’s price is $44.25 +10.79% or $4.59 from its 5-day moving average. IONS is currently trading +14.78% higher than its 20-day SMA and +30.99% higher than its 100-day SMA. However, the stock’s current price level is +12.00% above the SMA50 and +24.03% above the SMA200.
The stochastic %K and %D were 84.75% and 75.44%, respectively, and the average true range (ATR) was 1.44. With the 14-day stochastic at 92.00% and the average true range at 1.31, the RSI (14) stands at 77.68%. The stock has reached 1.73 on the 9-day MACD Oscillator while the 14-day reading was at 2.11.
Analyst Ratings
Citigroup upgraded Ionis Pharmaceuticals Inc (NASDAQ: IONS) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Ionis Pharmaceuticals Inc (IONS) among analysts is Overweight. According to current brokerage recommendations, 2 brokerage firms advise that investors sell IONS, while 6 suggest investors hold. There are 2 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 11 others rate it as a “buy”.
What is IONS’s price target for the next 12 months?
Analysts predict a range of price targets between $25.00 and $88.00, with a median target of $58.00. Taking a look at these predictions, the average price target given by analysts for Ionis Pharmaceuticals Inc (IONS) stock is $51.12.
