According to The Fly, in a report released yesterday, Eric Schmidt from Cowen & Co. reiterated a Buy rating on Ionis Pharmaceuticals Inc (NASDAQ: IONS). The company’s shares closed yesterday at $35.25, close to its 52-week low of $30.93.
Schmidt commented, “Ionis reported Q1 financials and provided a pipeline update.”
According to TipRanks.com, Schmidt is a 5-star analyst with an average return of 9.7% and a 35.4% success rate. Schmidt covers the Healthcare sector, focusing on stocks such as Merrimack Pharmaceuticals, Adaptimmune Therapeutics, and Alexion Pharmaceuticals.
Ionis Pharmaceuticals Inc has an analyst consensus of Moderate Buy
Based on Ionis Pharmaceuticals Inc`s latest earnings report from December 31, the company posted quarterly revenue of $51.57M and quarterly net profit of -$71.43M. In comparison, last year the company earned revenue of $62.58M and had a net profit of -$16.72M.
Like Cowen & Co.`s latest rating, based on the recent corporate insider activity of 51 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 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 through two segments: Drug Discovery & Development Operations and Akcea. The Drug Discovery & Development Operations segment provides drugs to treat a variety of health conditions, with an emphasis on cardiovascular, metabolic, severe and rare diseases, including neurological disorders, and cancer. The Akcea segment, which is a subsidiary, focuses on the clinical development of ISIS-APOCIIIRx, ISIS-APO(a)Rx and ISIS-ANGPTL3Rx, as well as more potent follow on drugs from these programs. The company was founded by Stanley T. Crooke in January 1989 and is headquartered in Carlsbad, CA.