Canaccord Genuity Maintains Buy on Ionis Pharmaceuticals with $85 Target

Ionis Pharmaceuticals (IONS) received a boost from Canaccord Genuity analyst Gary Nachman, who reiterated his Buy rating on the stock and set a price target of $85.00. This recommendation comes as part of Nachman's coverage of the Healthcare sector, which also includes stocks such as Jazz Pharmaceuticals and Amgen. According to TipRanks, Nachman has an average return of 0.6% and a 46.32% success rate on recommended stocks.

Meanwhile, H.C. Wainwright’s Mitchell Kapoor also issued a Buy recommendation for Ionis Pharmaceuticals in a report today. However, Goldman Sachs maintained a Hold rating on the stock as recently as September 14. It's worth noting that corporate insider activity has been positive, with an increase in insiders buying shares of IONS over the past quarter.

The company reported quarterly revenue of $267.95 million and a GAAP net loss of $114.65 million for the quarter ending June 30. This compares to last year's revenue of $452.05 million and net profit of $123.55 million.