Ionis Pharmaceuticals Inc Receives a Buy from BMO Capital

By Carrie Williams

BMO Capital analyst Do Kim reiterated a Buy rating on Ionis Pharmaceuticals Inc (NASDAQ: IONS) yesterday and set a price target of $59. The company’s shares closed yesterday at $48.23.

According to TipRanks.com, Kim is a 4-star analyst with an average return of 13.3% and a 47.6% success rate. Kim covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Cynapsus Therapeutics, and Fate Therapeutics.

Ionis Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $47.67.

Based on Ionis Pharmaceuticals Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $110 million and quarterly net profit of $3.47 million. In comparison, last year the company earned revenue of $36.87 million and had a GAAP net loss of $62.92 million.

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Ionis Pharmaceuticals, Inc. engages in the development and commercialization of antisense drug discovery. It operates its business through the Ionis Core and Akea Therapeutics segments. The Ionis Core segment involves a a novel drug discovery platform generate a broad pipeline of drugs. The Akea Therapeutics segment develops and commercializes drugs for cardiometabolic disorders. The company was founded by Stanley T. Crooke in January 1989 and is headquartered in Carlsbad, CA.