On Jan. 05, Swayze Eric divested U.S. $10,918 in shares of Ionis Pharmaceuticals Inc.. The EVP, Research sold 195 shares at a price per share of $55.99. The transaction decreased this specific insider’s holdings to 5,107 shares worth around $0.29 million at present.
UBS launched its Ionis Pharmaceuticals Inc. [IONS] rating to the equivalent of a Sell and assigned the price target of $34, in a research note dated December 16, 2020. That figure represents around a -65.26% premium from where the company’s shares closed on Wednesday. Some new analysts also started their coverage, with UBS’s analysts assigning the shares to “a Sell” rating in a research note to investors issued in mid December. Meanwhile, Cowen had raised its rating on IONS to “an Outperform” from the earlier “Market perform”, in a research note produced for clients December 15, 2020.
Is Ionis Pharmaceuticals Inc. [NASDAQ:IONS] a Good Buy Right Now?
It should be noted that IONS technical indicators for short, intermediate as well as long term progress have placed an overall average of 56% as Buy. The average signal changed from 24% Buy in the last week and compares with 40% Sell in the past month. Data from Ionis Pharmaceuticals Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 1.49 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.15 million shares while the medium term average advocated for Hold. The average long-term signal stands at 50% Buy and the 100-day average volume stands at 1.06 million shares.
IONS Price Performance
On Wall Street, Ionis Pharmaceuticals Inc. [NASDAQ:IONS] finished Wednesday’s session up 0.46% at $56.19. The stock went up to $56.98 at the same session while its lowest single day price was $55.37. In the last five days, it saw a fall of about -1.47%, Ionis Pharmaceuticals Inc. shares dropped by almost -0.62% since the beginning of the year. However, the share price has dropped to as low as -12.67% below its one year high. On 01/04/21, the company shares recorded $57.03, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $55.37. The company’s shares have declined by -8.17% in the past year. The 50-day SMA achieved is $51.19 while the 200-day SMA is $53.52. Volume gained to 1.1 million from 0.73 million in the previous session.
Ionis Pharmaceuticals Inc. [IONS] Valuation Measures
Notably, Ionis Pharmaceuticals Inc. [IONS] stock cannot be classified as a good candidate in the listing of underestimated low-priced Biotechnology companies to purchase soonest possible with the prevailing 12-month PE ratio of 113.74. The measure means the stock is exchanging at a premium as compared to the 41.72x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 8.52 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 20.33 which means IONS serve an unattractive investment opportunity compared to its competitors.
IONS Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 55.38 level, and in case of violation of this particular level, it will cause more drop to 54.57 level. On the upper level, 57.79 is still the key resistance. The stock may increase to the subsequent resistance at 56.99. The Relative Strength Index (RSI) pinned on the 14-day chart is 57.90, implying a neutral technical stance while the MACD stands at 0.03, meaning price will decrease in the next trading period. Percent R indicator moved to 39.87%, implying low price movement. Stochastic %K at 63.67% suggest holding the stock.
What is the short interest in Ionis Pharmaceuticals Inc.?
Short interest in the Ionis Pharmaceuticals Inc. stock has plunged, decreasing by -0.43 million shares to total 7.22 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 6.79 million, data from Yahoo Finance shows. The increase of 5.96% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 6.14% of the overall float for the stock.
Ionis Pharmaceuticals Inc.’s Biggest Shareholders: Who Owns Ionis Pharmaceuticals Inc. [IONS]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 20,853,952 shares or roughly 14.92% of the outstanding IONS shares. This means their shares have increased by 56,398 from the 20,853,952 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $593,628,259. Details in the latest 13F filings reveal that T. Rowe Price Associates, Inc. acquired their 24.63% stake valued at $542,289,223 while Bellevue Asset Management AG added theirs at $440,433,123. During the last quarter, T. Rowe Price Associates, Inc. raised 2,120,663 of its shares in Ionis Pharmaceuticals Inc. while Bellevue Asset Management AG bought 466,397 shares. The ClearBridge Investments LLC’s holdings currently number 7,273,365 shares at $408690379.35. According to the firm’s last 13F report, BlackRock Fund Advisors shares in the company at filing stood at 6,817,670 shares, roughly $344,496,865.
IONS Earnings Forecast For The Current Quarter
Ionis Pharmaceuticals Inc. [IONS] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $272.31M and an earnings per share of $0.28 for Dec 2020. Looking further ahead, the company is expected to report revenue of $174.64M at an EPS of -$0.3 for Mar 2021. The estimates represent downside of 10.00% and -54.00% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
IONS Earnings Estimates For The Current Year
For the financial year, Ionis Pharmaceuticals Inc. [NASDAQ:IONS] is expected to bring in revenue of $711.39M. The returns are nearly $-408.61 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.5, lower than that of FY19 by -$2.58. Estimates put this year’s earnings growth at -124.00%, -44.00% for the next, and at an annual 98.00% over the next 5-year period. As for sales, forecasts are for a decrease of -36.60% in the current fiscal year and a further 10.00% over the following year.
What are analyst thoughts on Ionis Pharmaceuticals Inc.?
Looking forward to the Ionis Pharmaceuticals Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Ionis Pharmaceuticals Inc. stock at $65.00 within the next 12 months, which represents almost 13.55 per cent growth from its previous closing price of $56.19. The highest analysts’ target for Ionis Pharmaceuticals Inc. stock projections is $120.00 and the lowest one is $19.00. Still, 23 analysts sharing their consensus rating for IONS stock in 2021 agree that it is an Overweight.