Needham Thinks Ionis Pharmaceuticals’ Stock is Going to Recover

Needham analyst Chad Messer assigned a Buy rating to Ionis Pharmaceuticals (IONSResearch Report) today and set a price target of $84.00. The company’s shares closed last Wednesday at $38.02, close to its 52-week low of $34.43.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 6.4% and a 41.2% success rate. Messer covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Phasebio Pharmaceuticals, and Aeglea Biotherapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ionis Pharmaceuticals with a $55.44 average price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $64.37 and a one-year low of $34.43. Currently, Ionis Pharmaceuticals has an average volume of 1.62M.

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 through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases. The company was founded by Stanley T. Crooke, David J. Ecker, Christopher K. Mirabelli and Brett P. Monia in 1989 and is headquartered in Carlsbad, CA.