Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) shares rose on Tuesday February 14 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile U.S. stocks opened slightly lower on Tuesday. The main three benchmarks retreated after touching the latest in a series of record highs on Monday, with the S&P 500 index SPX, -0.09% down two points, or 0.1%, to 2,326.
The Dow Jones Industrial Average DJIA, -0.02% fell 34 points, or 0.2%, to 20,381. The Nasdaq Composite Index COMP, -0.13% shed eight points, or 0.1%, to 5,756.
BMO Capital Markets analysts reiterated its Positive rating on Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) in a note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Positive on the shares, the company has a 52-week high of $57.00. A number of other analysts have spoken on the company in recent days, and the company has earned a consensus one-year price target of $46.50, less than the opening price of $47.26. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Yesterday Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) shares last traded at $46.23, a spike of $0.14 over the previous closing price. Opening at $47.26, they ranged from $45.60 and $47.26 throughout the day.
Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) currently has a market cap of 5.60B.
Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) Average Daily Trading Volume
158,944 shares crossed the trading desk yesterday, 28 percent lower than normal, out of a total float 120,207,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that research thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) have ranged from $19.59 – 57.00, and the stock now has a 50-day MA of $46.55 and 200-day MA of $38.87. Today’s last price is 18.89%% under the 52 week high of $57.00.
Earnings growth is a critical factor to look at when buying stocks and investors seek companies that have been successful at growing their earnings by at least 25% for 3 consecutive years.
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