IONS Stock Summary and Trading Ideas (Ionis Pharmaceuticals | NASDAQ:IONS)

Ionis Pharmaceuticals is the leading developer of antisense technology to discover and develop novel drugs. Its broad clinical and preclinical pipeline targets a wide variety of diseases, with an emphasis on cardiovascular, metabolic, neurological, and rare diseases. Ionis and partner Biogen brought Spinraza to market in 2016 as a treatment for a rare neuromuscular disorder, spinal muscular atrophy, and Biogen launched ALS drug Qalsody in 2023. Ionis brought two additional drugs to market via its cardiovascular-focused subsidiary Akcea, including ATTR amyloidosis drug Tegsedi (2018) and cardiology drug Waylivra (Europe, 2019).

Ionis Pharmaceuticals trades on the NASDAQ stock market under the symbol IONS.

As of April 18, 2024, IONS stock price declined to $40.81 with 836,151 million shares trading.

IONS has a beta of 1.00, meaning it tends to be more sensitive to market movements. IONS has a correlation of 0.16 to the broad based SPY ETF.

IONS has a market cap of $5.95 billion. This is considered a Mid Cap stock.

Last quarter Ionis Pharmaceuticals reported $325 million in Revenue and -$.06 earnings per share. This beat revenue expectation by $150 million and exceeded earnings estimates by $.77.

In the last 3 years, IONS stock traded as high as $54.44 and as low as $25.04.

The top ETF exchange traded funds that IONS belongs to (by Net Assets): VTI, VB, VXF, VBK, XBI.

IONS has underperformed the market in the last year with a price return of +8.0% while the SPY ETF gained +22.3%. IONS has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -20.4% and -6.8%, respectively, while the SPY returned +6.1% and -3.8%, respectively.

IONS support price is $40.11 and resistance is $41.72 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that IONS stock will trade within this expected range on the day.