Needham Believes Ionis Pharmaceuticals Inc (NASDAQ: IONS) Still Has Room to Grow

By Austin Angelo

Needham analyst Alan Carr reiterated a Buy rating on Ionis Pharmaceuticals Inc (NASDAQ: IONS) on September 15 and set a price target of $64. The company’s shares closed on Friday at $59.23, close to its 52-week high of $60.01.

According to TipRanks.com, Carr is a 4-star analyst with an average return of 7.3% and a 44.3% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Amphastar Pharmaceuticals.

Ionis Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $61.

The company has a one year high of $60.01 and a one year low of $24.58. Currently, Ionis Pharmaceuticals Inc has an average volume of 1.18M.

Based on the recent corporate insider activity of 67 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 its business through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs.