Needham analyst Chad Messer assigned a Buy rating to Ionis Pharmaceuticals (IONS) today and set a price target of $89.00. The company’s shares closed last Wednesday at $57.09.
According to TipRanks.com, Messer is a 5-star analyst with an average return of 9.3% and a 46.8% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Sarepta Therapeutics.
Ionis Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $70.13.
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Based on Ionis Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $494 million and net profit of $184 million. In comparison, last year the company earned revenue of $192 million and had a net profit of $320 million.
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Ionis Pharmaceuticals, Inc. engages in the development and commercialization of human therapeutic drugs using antisense technology. It operates through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases. The company was founded by Stanley T. Crooke, David J. Ecker, Christopher K. Mirabelli and Brett P. Monia in 1989 and is headquartered in Carlsbad, CA.
