Analyst Kostas Biliouris from BMO Capital maintained a Buy rating on Ionis Pharmaceuticals (IONS – Research Report) and keeping the price target at $67.00.
Kostas Biliouris has given his Buy rating due to a combination of factors surrounding Ionis Pharmaceuticals, including promising clinical trial results and the potential to address significant unmet medical needs. The safety and efficacy data from the phase I/II trials of ION582 in patients with Angelman syndrome are particularly encouraging, with the drug showing a favorable safety profile and positive efficacy across various age groups. The lack of lower extremity weakness, a side effect observed with a competing product, and no treatment discontinuations, further strengthen the drug’s profile.
Furthermore, despite the discontinuation of ION541 for ALS, Biliouris believes this does not heavily impact the overall investment thesis for Ionis Pharmaceuticals. The company’s pipeline includes several promising candidates aimed at treating rare diseases, with a focus on Spinraza sales and upcoming data from key programs. The advancements in the pipeline and the continuation of other trials, such as those for Eplontersen, Donidalorsen, and Olezarsen, contribute to the positive outlook. Ionis’s commitment to progressing these programs and the prospect of meeting various unmet medical needs reinforce the Buy rating.
According to TipRanks, Biliouris is an analyst with an average return of -3.6% and a 36.96% success rate. Biliouris covers the Healthcare sector, focusing on stocks such as Legend Biotech, Centessa Pharmaceuticals, and 4D Molecular Therapeutics.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $62.00 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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