H.C. Wainwright analyst Mitchell Kapoor reiterated a Buy rating on Ionis Pharmaceuticals (IONS – Research Report) today and set a price target of $45.00.
Mitchell Kapoor has given his Buy rating due to a combination of factors that highlight the potential of Ionis Pharmaceuticals’ Tryngolza in treating severe hypertriglyceridemia (sHTG). The recent webinar with key opinion leaders emphasized the significant unmet need in patients with acute pancreatitis, a condition that Tryngolza could effectively address by lowering triglyceride levels. The focus on patients with triglyceride levels exceeding 1,000mg/dL, who are at a higher risk of acute pancreatitis, underscores the drug’s potential impact in reducing this risk and meeting a critical medical need.
Furthermore, the anticipated pivotal data readouts in the second half of 2025 are expected to be a catalyst for Ionis’ stock, with strong confidence in Tryngolza’s approval for sHTG. The potential market for Tryngolza is substantial, with a total addressable market of approximately 1 million adults in the U.S. with triglyceride levels over 1,000mg/dL. This opportunity, combined with the expected price reduction of Tryngolza, suggests significant market penetration and revenue potential, supporting the Buy rating and a 12-month price target of $45.
In another report released today, Needham also reiterated a Buy rating on the stock with a $60.00 price target.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IONS in relation to earlier this year.