Ionis Pharmaceuticals Inc. (NASDAQ: IONS) stock fell -3.29% on Monday to $39.42 against a previous-day closing price of $40.76. With 1.02 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.1 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $40.66 whereas the lowest price it dropped to was $39.37. The 52-week range on IONS shows that it touched its highest point at $48.82 and its lowest point at $28.25 during that stretch. It currently has a 1-year price target of $50.16. Beta for the stock currently stands at 0.54.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IONS was down-trending over the past week, with a drop of -1.08%, but this was up by 1.28% over a month. Three-month performance dropped to -12.07% while six-month performance rose 3.46%. The stock gained 31.36% in the past year, while it has gained 4.37% so far this year. A look at the trailing 12-month EPS for IONS yields 0.06 with Next year EPS estimates of -2.77. For the next quarter, that number is -0.84. This implies an EPS growth rate of 93.60% for this year and -16.40% for next year.
Float and Shares Shorts:
At present, 141.95 million IONS shares are outstanding with a float of 141.26 million shares on hand for trading. On Oct 13, 2022, short shares totaled 7.0 million, which was 4.93% higher than short shares on Sep 14, 2022. In addition to Dr. Brett P. Monia Ph.D. as the firm’s Founder, CEO & Director, Ms. Elizabeth L. Hougen serves as its Exec. VP of Fin. & CFO.
Through their ownership of 87.60% of IONS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.59% of IONS, in contrast to 32.66% held by mutual funds. Shares owned by individuals account for 1.06%. As the largest shareholder in IONS with 14.99% of the stake, Fidelity Management & Research Co holds 21,291,159 shares worth 21,291,159. A second-largest stockholder of IONS, The Vanguard Group, Inc., holds 12,617,399 shares, controlling over 8.88% of the firm’s shares. T. Rowe Price Investment Manageme is the third largest shareholder in IONS, holding 11,156,695 shares or 7.85% stake. With a 6.50% stake in IONS, the BB Biotech AG is the largest stakeholder. A total of 9,230,000 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 4.87% of IONS stock, is the second-largest Mutual Fund holder. It holds 6,921,149 shares valued at 261.41 million. T Rowe Price Mid Cap Growth Fund holds 2.98% of the stake in IONS, owning 4,229,700 shares worth 159.76 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IONS since 23 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 3 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 2 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With IONS analysts setting a high price target of $92.00 and a low target of $24.00, the average target price over the next 12 months is $50.57. Based on these targets, IONS could surge 133.38% to reach the target high and fall by -39.12% to reach the target low. Reaching the average price target will result in a growth of 28.29% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. IONS will report FY 2022 earnings on 02/22/2024. Analysts have provided yearly estimates in a range of -$1.92 being high and -$3.15 being low. For IONS, this leads to a yearly average estimate of -$2.44. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Ionis Pharmaceuticals Inc. surprised analysts by $0.39 when it reported -$0.33 EPS against a consensus estimate of -$0.72. The surprise factor in the prior quarter was -$0.13. Based on analyst estimates, the high estimate for the next quarter is -$0.06 and the low estimate is -$1.45. The average estimate for the next quarter is thus -$0.85.
Summary of Insider Activity:
Insiders traded IONS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 124,142 while 19,455 shares were sold.