In a report released today, Chad Messer from Needham reiterated a Buy rating on Ionis Pharmaceuticals (IONS), with a price target of $84.00. The company’s shares closed last Wednesday at $39.48, close to its 52-week low of $39.17.
According to TipRanks.com, Messer is a 4-star analyst with an average return of 6.5% and a 44.4% success rate. Messer covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Phasebio Pharmaceuticals, and Aeglea Biotherapeutics.
Currently, the analyst consensus on Ionis Pharmaceuticals is a Moderate Buy with an average price target of $58.50, implying a 39.1% upside from current levels. In a report issued on April 23, BMO Capital also maintained a Buy rating on the stock with a $74.00 price target.
See today’s analyst top recommended stocks >>
Based on Ionis Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $290 million and GAAP net loss of $340 million. In comparison, last year the company earned revenue of $494 million and had a net profit of $181 million.
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.
