Investors Dumped Ionis Pharmaceuticals Stock -- But Wall Street Hasn't Budged From Its Bullish Outlook
Shares of Ionis are down more than 40% so far this year.
Overview
Shares of Ionis Pharmaceuticals (NASDAQ: IONS) are down more than 40% so far this year and are almost half of their 52-week high of $86.74. While there are plenty of valid reasons for that tumble, analysts still average a lofty price target of $83.82 for the stock, with most putting it as a buy or a strong buy.
The company focuses on neurology treatments and cardiometabolic diseases and has six approved therapies, mostly for rare diseases: Zanvastro treats Alexander disease, a brain disorder; Dawnzera is a therapy for hereditary angioedema, a generic disorder that causes severe swelling; Qalsody treats a genetic cause of amyotrophic lateral sclerosis (ALS); Spinraza is used to treat spinal muscular atrophy; Wainua lowers the production of TTR protein, which can cause amyloid plaques; and Triglycerol is used to treat adults with high triglycerides.
Details
There's an obvious disconnect between what retail investors and analysts see in the biotech stock. Let's look at why the stock is down and why it may still be a good investment.
Source
Originally published at www.fool.com.
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