After BMO Capital and Needham gave Ionis Pharmaceuticals (NASDAQ: IONS) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Kevin DeGeeter assigned a Buy rating to Ionis Pharmaceuticals yesterday and set a price target of $69.00. The company’s shares closed last Tuesday at $50.77.
According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 23.6% and a 47.3% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, Rocket Pharmaceuticals, and Cellectar Biosciences.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ionis Pharmaceuticals with a $70.00 average price target, which is a 38.6% upside from current levels. In a report issued on September 8, Citigroup also maintained a Buy rating on the stock with a $74.00 price target.
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The company has a one-year high of $66.22 and a one-year low of $39.32. Currently, Ionis Pharmaceuticals has an average volume of 700.9K.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IONS in relation to earlier this year. Most recently, in July 2020, Frederick Muto, a Director at IONS bought 15,000 shares for a total of $138,300.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
