Oppenheimer analyst Justin Kim raised the firm’s price target on Ionis Pharmaceuticals (IONS) to $90 from $84 and keeps an Outperform rating on the shares. The firm notes the company highlighted recent achievements and pipeline progress at its Innovation Day on the heels of positive Phase 3 trials of olezarsen and zilganersen. Beyond new data shared on the late-stage programs and color on commercial preparedness for independent launches, Oppenheimer was impressed by the advancement in early-stage programs, including initial results from ION775, ION337, and preclinical proof-of-concept for BBB-crossing siRNA. Stepping back, the firm sees Ionis’ commercial and clinical execution as impressive and believe the company is favorably positioned ahead of multiple key Phase 3 readouts in the coming year for additional upside.
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