Needham analyst Chad Messer assigned a Buy rating to Ionis Pharmaceuticals (IONS) today and set a price target of $91.00. The company’s shares closed last Tuesday at $49.65.
According to TipRanks.com, Messer is a 5-star analyst with an average return of 13.2% and a 50.1% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Autolus Therapeutics.
Currently, the analyst consensus on Ionis Pharmaceuticals is a Hold with an average price target of $64.88, representing a 29.0% upside. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $65.00 price target.
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Ionis Pharmaceuticals’ market cap is currently $7.16B and has a P/E ratio of 104.00. The company has a Price to Book ratio of 5.26.
Based on the recent corporate insider activity of 52 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.
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.
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