In a report released yesterday, Michael Ulz from Morgan Stanley reiterated a Buy rating on Ionis Pharmaceuticals, with a price target of $94.00.
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Michael Ulz has given his Buy rating due to a combination of factors that highlight Ionis Pharmaceuticals’ strong performance and promising future prospects. The company’s third-quarter revenues exceeded expectations, largely driven by the impressive sales of Tryngolza, which saw a significant increase and led to an upward revision of the full-year sales guidance. This success underscores the company’s effective strategy in identifying and reaching patients with rare diseases, as well as its ability to independently commercialize its products.
Furthermore, the upcoming release of detailed SHTG data at the AHA meeting is expected to further bolster the company’s profile. With multiple catalysts on the horizon, including Phase 3 data for other promising treatments, Ionis Pharmaceuticals is well-positioned for continued growth. These factors collectively support the Buy rating, as they indicate a strong trajectory for the company’s financial performance and strategic initiatives.
Ulz covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Kyverna Therapeutics, Inc., and Rhythm Pharmaceuticals. According to TipRanks, Ulz has an average return of 5.5% and a 44.97% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $95.00 price target.