Analyst Jason Gerberry of Bank of America Securities maintained a Buy rating on Ionis Pharmaceuticals (IONS – Research Report), with a price target of $62.00.
Jason Gerberry has given his Buy rating due to a combination of factors surrounding Ionis Pharmaceuticals’ robust pipeline and upcoming clinical milestones. The management’s confident outlook on presenting Phase 3 data for their hereditary angioedema treatment, as well as constructive developments in their Angelman program, contribute to the potential upside. Furthermore, management’s anticipation of in-line event rates for the Phase 3 trial in transthyretin cardiomyopathy (TTR-CM) and the significant impact of the HELIOS B trial results on the readout timeline bolster the Buy rating. Additionally, discussions on other programs such as APO-C3 for hypertriglyceridemia and Factor B for geographic atrophy indicate a diverse and promising pipeline.
Moreover, the company’s treatment for Angelman syndrome, ION582, is believed by management to have best-in-class potential, particularly in safety and efficacy, without the adverse event of lower extremity weakness observed in competitors’ antisense oligonucleotide (ASO) treatments for Angelman’s. The strategic positioning against upcoming competitor data in familial chylomicronemia syndrome (FCS) and the potential for a 2025 readout of their own Phase 3 TTR data, pending results from a competitor’s trial, further solidify the positive outlook. These elements, coupled with a market valuation that suggests room for growth, support Gerberry’s Buy rating for Ionis Pharmaceuticals.
Gerberry covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Galapagos, and Lyra Therapeutics. According to TipRanks, Gerberry has an average return of -0.6% and a 43.75% success rate on recommended stocks.
In another report released on May 8, Citi also maintained a Buy rating on the stock with a $60.00 price target.
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Ionis Pharmaceuticals (IONS) Company Description:
Ionis Pharmaceuticals, Inc. engages in the development and commercialization of human therapeutic drugs using antisense technology. It operates through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases. The company was founded by Stanley T. Crooke, David J. Ecker, Christopher K. Mirabelli and Brett P. Monia in 1989 and is headquartered in Carlsbad, CA.
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