William Blair analyst Myles Minter has maintained their bullish stance on IONS stock, giving a Buy rating today.
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Myles Minter has given his Buy rating due to a combination of factors surrounding Ionis Pharmaceuticals’ recent developments. The company announced promising results from a Phase III study of zilganersen, a treatment for Alexander disease, which is a rare neurological condition. The study showed that zilganersen significantly improved gait speed in patients, which is a primary endpoint, and also indicated positive trends in several secondary endpoints.
The lack of existing FDA-approved therapies for Alexander disease highlights the high unmet need, positioning zilganersen as a potentially groundbreaking treatment. Additionally, the safety profile of zilganersen was favorable, with fewer serious adverse events compared to placebo. These factors, combined with Ionis’s strategic plans to seek regulatory approval, contribute to a positive outlook for the company’s stock, justifying the Buy rating.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $83.00 price target.