Analyst Michael Ulz of Morgan Stanley reiterated a Buy rating on Ionis Pharmaceuticals, retaining the price target of $86.00.
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Michael Ulz has given his Buy rating due to a combination of factors that highlight Ionis Pharmaceuticals’ promising future prospects. The company showcased significant advancements in its cardiometabolic and neurology pipeline during their Innovation Day, emphasizing multiple upcoming catalysts and independent launches expected to drive revenue growth. The potential of olezarsen to transform the treatment landscape for severe hypertriglyceridemia (sHTG) was particularly noted, with plans for a new drug application submission by the end of 2025 and a launch in the second half of 2026.
Additionally, Ionis presented positive interim results for ION775, an innovative apoC-III siRNA, which demonstrated durable reductions and the potential for semiannual dosing. This development could further strengthen Ionis’s leadership in the sHTG market. The company also reiterated its peak sales potential, projecting over $5 billion, driven by independent launches and royalties from partnered programs. These strategic advancements and financial projections underpin Michael Ulz’s optimistic Buy rating for Ionis Pharmaceuticals.
In another report released today, J.P. Morgan also upgraded the stock to a Buy with a $80.00 price target.