In a report released yesterday, Michael Ulz from Morgan Stanley maintained a Buy rating on Ionis Pharmaceuticals, with a price target of $71.00.
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Michael Ulz has given his Buy rating due to a combination of factors, primarily the positive results from Ionis Pharmaceuticals’ Phase 3 study of zilganersen for Alexander disease. The study successfully met its primary endpoint, demonstrating a significant improvement in gait speed compared to placebo, which is a promising indicator of the drug’s efficacy. Additionally, the drug showed favorable trends across several secondary endpoints, enhancing its potential therapeutic value.
Moreover, the safety profile of zilganersen was encouraging, with most adverse events being mild or moderate and a lower incidence of serious adverse events compared to placebo. Ionis’ plans to present complete data at a medical congress and to submit a New Drug Application in early 2026 further bolster confidence in the company’s strategic direction. Although Alexander disease represents a modest market opportunity, the positive data provides an upside to investor expectations, justifying the Buy rating.
Ulz covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Rhythm Pharmaceuticals, and Alnylam Pharma. According to TipRanks, Ulz has an average return of 0.8% and a 39.70% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $80.00 price target.