According to The Fly, leerink Swann analyst Michael Schmidt reiterated a Hold rating on Ionis Pharmaceuticals Inc (NASDAQ: IONS) yesterday and set a price target of $36. The company’s shares opened today at $38.27.
According to TipRanks.com, Schmidt is a 5-star analyst with an average return of 11.7% and a 64.6% success rate. Schmidt covers the Healthcare sector, focusing on stocks such as Adaptimmune Therapeutics, Karyopharm Therapeutics, and Five Prime Therapeutics.
Currently, the analyst consensus on Ionis Pharmaceuticals Inc is Moderate Buy and the average price target is $36, representing a -5.9% downside.
In a report released yesterday, BMO Capital also reiterated a Hold rating on the stock with a $40 price target.
Based on Ionis Pharmaceuticals Inc`s latest earnings report from March 31, the company posted quarterly revenue of $36.87M and quarterly net profit of -$62.92M. In comparison, last year the company earned revenue of $120.4M and had a net profit of $35.65M.
Based on the recent corporate insider activity of 48 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 platform. It operates through the Drug Discovery and Development segment which exploits a novel drug discovery platform created to generate a broad pipeline of first-in-class drugs for the company and its partners. Its products are used to treat diseases such as severe and rare, cardiovascular, neurologic and metabolic diseases, and cancer. The company was founded by Stanley T. Crooke in January 1989 and is headquartered in Carlsbad, CA.