Ionis Pharmaceuticals Inc (IONS) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 64 from a previous price target of $55 . Needham advised their investors in a research report released on Aug 2, 2016.
Many Wall Street Analysts have commented on Ionis Pharmaceuticals Inc. Shares were Reiterated by Needham on May 27, 2016 to “Buy” and Lowered the Price Target to $ 55 from a previous price target of $88 .
On the company’s financial health, Ionis Pharmaceuticals Inc reported $-0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.54. The company had revenue of $36.90 million for the quarter, compared to analysts expectations of $36.21 million. The company’s revenue was down -41.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.14 EPS.
In a different news, on Jun 2, 2016, Frederick T Muto (director) sold 12,500 shares at $22.31 per share price. According to the SEC, on Apr 7, 2016, Patrick R. O’neil (SVP, Legal & General Counsel) sold 1,000 shares at $45.00 per share price. On Apr 7, 2016, Stanley T Crooke (Chairman and CEO) sold 11,000 shares at $46.12 per share price, according to the Form-4 filing with the securities and exchange commission.
Ionis Pharmaceuticals Inc. formerly Isis Pharmaceuticals Inc. is a ribonucleic acid-targeted (RNA-targeted) drug discovery and development company. The Company is focused on discovering and developing antisense drugs. Its antisense drugs are used to treat a range of diseases including cardiovascular; metabolic; severe and rare diseases including neurological disorders and cancer. Volanesorsen is a drug indicated to treat patients with high triglyceride levels including patients with a genetic condition called familial chylomicronemia syndrome (FCS) and patients with partial lipodystrophy. It is focused on bringing its late-stage Phase III drugs nusinersen volanesorsen and IONIS-TTR to the market. Its lipid-lowering product KYNAMRO (mipomersen sodium) injection is on the market in the United States for patients with homozygous familial hypercholesterolemia (HoFH). Its products also include Alicaforsen IONIS-DMPK-2.5 Plazomicin and IONIS-GCGR.