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Fintel reports that on April 25, 2023, Needham reiterated coverage of Ionis Pharmaceuticals (NASDAQ:IONS) with a Buy recommendation.
Analyst Price Forecast Suggests 34.85% Upside
As of April 24, 2023, the average one-year price target for Ionis Pharmaceuticals is 48.17. The forecasts range from a low of 24.24 to a high of $96.60. The average price target represents an increase of 34.85% from its latest reported closing price of 35.72.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ionis Pharmaceuticals is 678MM, an increase of 15.55%. The projected annual non-GAAP EPS is -2.60.
What is the Fund Sentiment?
There are 707 funds or institutions reporting positions in Ionis Pharmaceuticals. This is an increase of 6 owner(s) or 0.86% in the last quarter. Average portfolio weight of all funds dedicated to IONS is 0.20%, a decrease of 11.07%. Total shares owned by institutions increased in the last three months by 3.50% to 144,636K shares. The put/call ratio of IONS is 0.51, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 11,678K shares representing 8.17% ownership of the company. In it’s prior filing, the firm reported owning 11,157K shares, representing an increase of 4.47%. The firm decreased its portfolio allocation in IONS by 14.15% over the last quarter.
Bellevue Group holds 9,744K shares representing 6.81% ownership of the company. In it’s prior filing, the firm reported owning 9,463K shares, representing an increase of 2.88%. The firm decreased its portfolio allocation in IONS by 25.30% over the last quarter.
FDGRX – Fidelity Growth Company Fund holds 6,921K shares representing 4.84% ownership of the company. In it’s prior filing, the firm reported owning 7,103K shares, representing a decrease of 2.63%. The firm decreased its portfolio allocation in IONS by 4.56% over the last quarter.
Clearbridge Investments holds 5,426K shares representing 3.79% ownership of the company. In it’s prior filing, the firm reported owning 5,774K shares, representing a decrease of 6.42%. The firm decreased its portfolio allocation in IONS by 21.40% over the last quarter.
Price T Rowe Associates holds 4,292K shares representing 3.00% ownership of the company. In it’s prior filing, the firm reported owning 4,797K shares, representing a decrease of 11.76%. The firm decreased its portfolio allocation in IONS by 24.97% over the last quarter.
Ionis Pharmaceuticals Background Information
(This description is provided by the company.)
For more than 30 years, Ionis has been the leader in RNA-targeted therapy, pioneering new markets and changing standards of care with its novel antisense technology. Ionis currently has three marketed medicines and a premier late-stage pipeline highlighted by industry-leading neurological and cardiometabolic franchises. Its scientific innovation began and continues with the knowledge that sick people depend on it, which fuels its vision of becoming one of the most successful biotechnology companies.
See all Ionis Pharmaceuticals regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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