Ionis Pharmaceuticals Inc (IONS) is Reiterated by Needham to Buy, Lowers Price Target to $ 55

Ionis Pharmaceuticals Inc (IONS) was Reiterated by Needham to “Buy” while Lowering the Price Target of the company shares to $ 55 from a previous price target of $88 . Needham advised their investors in a research report released on May 27, 2016.

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 Apr 7, 2016, Patrick R. O’neil (SVP, Legal & General Counsel) sold 1,000 shares at $45.00 per share price. According to the SEC, on Apr 7, 2016, Stanley T Crooke (Chairman and CEO) sold 11,000 shares at $46.12 per share price. On Jan 19, 2016, Elizabeth L Hougen (SVP, Finance & CFO) sold 1,899 shares at $41.46 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.

Ionis Pharmaceuticals Inc

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