Ionis Stock Has Plunged 30%. Is It Time to Buy the Beaten-Down Stock?
A drug that didn't meet expectations in a trial is to blame.
Overview
Shares of Ionis Pharmaceuticals (NASDAQ: IONS) fell from about $86 in July to roughly $56 today, and are down about 30% year to date. The drop can be traced back to its heart drug Eplontersen failing to prove its efficacy, but it's just one symptom in a vast array of potential issues outlined in its recent second-quarter report.
Image source: Getty Images.
For investors who've watched the RNA-therapeutics pioneer finally reach commercial-stage milestones, the drop raises an obvious question: Is this an overreaction, or is the easy money already made?
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.