Analyst Joseph Stringer from Needham reiterated a Buy rating on Ionis Pharmaceuticals (IONS – Research Report) and keeping the price target at $60.00.
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Joseph Stringer has given his Buy rating due to a combination of factors including the promising potential of Ionis Pharmaceuticals’ drug candidate, olzesarsen, in addressing severe hypertriglyceridemia (sHTG). The recent expert panel hosted by Ionis highlighted the significant unmet needs in the treatment of sHTG, which olzesarsen aims to fulfill.
The anticipation of pivotal Phase 3 trial results for olzesarsen in the second half of 2025, along with initial safety data expected in mid-2025, adds to the optimism about the drug’s potential approval and subsequent market impact. These developments, coupled with minor model adjustments ahead of the first quarter 2025 earnings, support Stringer’s Buy rating with a price target of $60.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $45.00 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.