Oppenheimer analyst Kevin DeGeeter assigned a Buy rating to Ionis Pharmaceuticals (IONS) yesterday and set a price target of $74.00. The company’s shares closed last Friday at $52.79.
According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 23.0% and a 48.0% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, Rocket Pharmaceuticals, and Cellectar Biosciences.
Currently, the analyst consensus on Ionis Pharmaceuticals is a Moderate Buy with an average price target of $76.00, representing a 44.7% upside. In a report issued on August 18, Needham also assigned a Buy rating to the stock with a $89.00 price target.
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The company has a one-year high of $67.31 and a one-year low of $39.32. Currently, Ionis Pharmaceuticals has an average volume of 710.9K.
Based on the recent corporate insider activity of 50 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. Last month, Frederick Muto, a Director at IONS bought 15,000 shares for a total of $138,300.
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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.
