Jason Gerberry, an analyst from Bank of America Securities, reiterated the Buy rating on Ionis Pharmaceuticals. The associated price target was raised to $86.00.
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Jason Gerberry has given his Buy rating due to a combination of factors including Ionis Pharmaceuticals’ strong performance in the third quarter, where they exceeded expectations with a 20% increase in topline revenue driven by higher product sales and royalty income. This positive outcome sets a favorable momentum as the company approaches the presentation of its CORE data at the upcoming American Heart Association meeting.
Additionally, the company is on track to submit a U.S. filing for olezarsen sHTG by the end of the year, with an anticipated approval in the fourth quarter of 2026. The management’s optimistic outlook on the groundbreaking data related to acute pancreatitis and triglyceride lowering further supports the potential for pipeline growth. These factors, along with a raised price objective and lower-than-expected cash burn, contribute to the Buy rating, reflecting confidence in the company’s future prospects.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $99.00 price target.
IONS’s price has also changed dramatically for the past six months – from $29.810 to $71.880, which is a 141.13% increase.