In a report released today, Mani Foroohar from SVB Securities maintained a Hold rating on Ionis Pharmaceuticals (IONS – Research Report), with a price target of $33.00. The company’s shares closed last Friday at $40.76.
Foroohar covers the Healthcare sector, focusing on stocks such as Mirum Pharmaceuticals, Ionis Pharmaceuticals, and Bluebird Bio. According to TipRanks, Foroohar has an average return of -14.9% and a 38.29% success rate on recommended stocks.
Currently, the analyst consensus on Ionis Pharmaceuticals is a Moderate Buy with an average price target of $51.64.
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Based on Ionis Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $159.77 million and a GAAP net loss of $46.99 million. In comparison, last year the company earned a revenue of $133.09 million and had a GAAP net loss of $82.47 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. 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.
Read More on IONS:
- Ionis Pharmaceuticals price target raised to $62 from $60 at Piper Sandler
- Royalty, Ionis enter into royalty agreement for up to $1.1B
- Ionis and Royalty Pharma enter into royalty agreement for up to $1.1 billion to further advance Ionis’ genetic medicines and commercial readiness
- Ionis Pharmaceuticals, Royalty Pharma enter $1.1B royalty agreement
- Ionis 2023 revenue estimate raised at Guggenheim