Ionis Pharmaceuticals, Inc. (IONS) Could Burn Your Portfolio. The Stock Formed Multiple Bottom

July 14, 2018 - By Darrell Taylor

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Logo

The stock of Ionis Pharmaceuticals, Inc. (IONS) shows a multiple bottoms pattern with $42.07 target or 7.00 % below today’s $45.24 share price. The 7 months chart pattern indicates high risk for the $5.68 billion company. It was reported on Jul, 14 by Finviz.com. If the $42.07 price target is reached, the company will be worth $397.53 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.77% or $0.35 during the last trading session, reaching $45.24. About 480,042 shares traded. Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has declined 3.65% since July 14, 2017 and is downtrending. It has underperformed by 16.22% the S&P500.

Analysts await Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) to report earnings on August, 14. They expect $-0.02 earnings per share, up 77.78 % or $0.07 from last year’s $-0.09 per share. After $-0.01 actual earnings per share reported by Ionis Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts 100.00 % negative EPS growth.

More notable recent Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) news were published by: Seekingalpha.com which released: “Ionis Pharma’s inotersen OK’d in Europe for hATTR” on July 11, 2018, also Fool.com with their article: “Here’s Why PTC Therapeutics Is Soaring While Biogen and Ionis Struggle” published on June 18, 2018, Streetinsider.com published: “Ionis Pharma (IONS), Akcea (AKCA) Announce NEJM Published Results from Pivotal Study of TEGSEDI for Treatment …” on July 05, 2018. More interesting news about Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) were released by: Seekingalpha.com and their article: “Premarket analyst action – healthcare” published on June 20, 2018 as well as Fool.com‘s news article titled: “Is Ionis Pharmaceuticals, Inc. a Buy?” with publication date: July 12, 2018.

Ionis Pharmaceuticals, Inc. discovers and develops RNA-targeted therapeutics. The company has market cap of $5.68 billion. The firm markets SPINRAZA, an antisense drug for spinal muscular atrophy in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and as an adjunct to lipid lowering medications and diet. It currently has negative earnings. The Company’s drugs in Phase III development include volanesorsen for the treatment of familial chylomicronemia syndrome and familial partial lipodystrophy; and IONIS-TTRRx, an antisense drug for transthyretin amyloidosis.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Ratings Chart

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