Needham Sticks to Their Buy Rating for Ionis Pharmaceuticals (IONS)

By Jason Carr

Needham analyst Chad Messer reiterated a Buy rating on Ionis Pharmaceuticals (IONSResearch Report) today and set a price target of $87.00. The company’s shares closed last Monday at $55.60.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 5.0% and a 39.5% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Aerpio Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ionis Pharmaceuticals with a $80.83 average price target.

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Based on Ionis Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $933K. In comparison, last year the company had a GAAP net loss of $4.56 million.

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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.