Bernstein analyst William Pickering raised the firm’s price target on Ionis Pharmaceuticals to $37 from $31 and keeps an Underperform rating on the shares. The firm thinks Street expectations for olezarsen and donidalorasen are too high and that the Street is also overly optimistic on the expense outlook, creating a valuation disconnect. This is a long term call, not an active short, and the stock likely trades up this year on HELIOS-B data, Bernstein adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on IONS:
- Leerink says Wainua approval already baked into Ionis’ stock price
- William Blair sees ATTR-PN market as large enough for two players
- Ionis Stock (NASDAQ:IONS) Advances as FDA Approves its Nerve Drug
- AstraZeneca / Ionis’ Wainua approved in U.S. for treatment of polyneuropathy
- Ionis’ Wainua granted regulatory approval in U.S. for treatment of hATTR-PN