Analyst Joseph Stringer of Needham maintained a Buy rating on Ionis Pharmaceuticals, boosting the price target to $78.00.
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Joseph Stringer has given his Buy rating due to a combination of factors that highlight Ionis Pharmaceuticals’ promising pipeline and financial prospects. The company showcased significant advancements in their Cardiometabolic and Neurology programs, with notable developments in drugs like olezarsen for FCS/SHTG and Dawnzera for Hereditary Angioedema. These drugs, along with zilganersen for Alexander Disease and ION582 for Angelman’s syndrome, demonstrate Ionis’ strong potential in addressing unmet medical needs.
Additionally, early-stage pipeline successes, such as positive Phase 1 data for ION775, a next-generation siRNA therapeutic, and a preclinical program for Dravet Syndrome, further bolster the company’s innovative edge. Ionis’ guidance of over $3 billion in peak royalty revenue from approved and late-stage partnered programs provides a solid financial outlook, enhancing investor confidence. Consequently, these factors collectively support the raised price target to $78, reinforcing the Buy recommendation.
Stringer covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Gilead Sciences, and Cidara Therapeutics. According to TipRanks, Stringer has an average return of 15.2% and a 45.81% 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.