In a report released today, David Lebovitz from Morgan Stanley maintained a Sell rating on Ionis Pharmaceuticals (IONS), with a price target of $51.00. The company’s shares closed last Thursday at $55.45.
According to TipRanks.com, Lebovitz is a 3-star analyst with an average return of 3.5% and a 47.2% success rate. Lebovitz covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals, Rhythm Pharmaceuticals, and Akebia Therapeutics.
Currently, the analyst consensus on Ionis Pharmaceuticals is a Moderate Buy with an average price target of $67.67.
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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.
