Ionis Pharmaceuticals Inc Receives a Sell from Jefferies

By Carrie Williams

Jefferies analyst Eun Yang reiterated a Sell rating on Ionis Pharmaceuticals Inc (NASDAQ: IONS) yesterday and set a price target of $17. The company’s shares closed yesterday at $38.38.

Yang wrote:

“Reported 3Q net income of ~$7M and reiterated FY16 guidance of pro forma NOL of ~$60M & YE cash of >$600M. Spinraza (nusinersen) in SMA type 1 is currently under regulatory review & regulators have been apprised of Ph3 data of SMA type 2. We view Spinraza is most promising product in IONS’ pipeline. We estimate ~$110M in 2017 sales by partner BIIB, translating into royalty revenue of ~$14M to IONS.”

According to, Yang is a 3-star analyst with an average return of 0.9% and a 52.0% success rate. Yang covers the Healthcare sector, focusing on stocks such as DBV Technologies S.A. – American, Achillion Pharmaceuticals, and Protalix Biotherapeutics.

Ionis Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $42.

The company has a one year high of $62.68 and a one year low of $19.59. Currently, Ionis Pharmaceuticals Inc has an average volume of 2.16M.

Based on the recent corporate insider activity of 49 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 February 2016, Spencer Berthelsen, a Director at IONS bought 12,500 shares for a total of $74,125.

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.