Fintel reports that on October 5, 2023, RBC Capital reiterated coverage of Ionis Pharmaceuticals (NASDAQ:IONS) with a Outperform recommendation.
Analyst Price Forecast Suggests 8.97% Upside
As of October 5, 2023, the average one-year price target for Ionis Pharmaceuticals is 51.05. The forecasts range from a low of 25.25 to a high of $92.40. The average price target represents an increase of 8.97% from its latest reported closing price of 46.85.
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The projected annual revenue for Ionis Pharmaceuticals is 678MM, an increase of 7.57%. The projected annual non-GAAP EPS is -2.60.
What is the Fund Sentiment?
There are 622 funds or institutions reporting positions in Ionis Pharmaceuticals. This is a decrease of 66 owner(s) or 9.59% in the last quarter. Average portfolio weight of all funds dedicated to IONS is 0.20%, an increase of 4.83%. Total shares owned by institutions increased in the last three months by 4.19% to 150,488K shares. 
The put/call ratio of IONS is 1.12, indicating a bearish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 13,084K shares representing 9.13% ownership of the company. In it's prior filing, the firm reported owning 13,064K shares, representing an increase of 0.15%. The firm increased its portfolio allocation in IONS by 9.24% over the last quarter.
Bellevue Group holds 9,380K shares representing 6.54% ownership of the company. In it's prior filing, the firm reported owning 9,512K shares, representing a decrease of 1.40%. The firm increased its portfolio allocation in IONS by 11.29% over the last quarter.
FDGRX - Fidelity Growth Company Fund holds 6,846K shares representing 4.78% ownership of the company. In it's prior filing, the firm reported owning 6,939K shares, representing a decrease of 1.36%. The firm decreased its portfolio allocation in IONS by 0.05% over the last quarter.
Clearbridge Investments holds 5,187K shares representing 3.62% ownership of the company. In it's prior filing, the firm reported owning 5,392K shares, representing a decrease of 3.94%. The firm increased its portfolio allocation in IONS by 4.31% over the last quarter.
RPMGX - T. Rowe Price Mid-Cap Growth Fund holds 4,746K shares representing 3.31% ownership of the company. In it's prior filing, the firm reported owning 4,749K shares, representing a decrease of 0.06%. The firm increased its portfolio allocation in IONS by 10.49% 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.
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