Ionis Pharmaceuticals, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Kostas Biliouris from BMO Capital maintained a Hold rating on the stock and has a $40.00 price target.
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Kostas Biliouris has given his Hold rating due to a combination of factors surrounding Ionis Pharmaceuticals. The recent Phase III trial results for Olezarsen in severe hypertriglyceridemia (sHTG) showed promising outcomes, particularly in triglyceride lowering and acute pancreatitis risk reduction. Despite these positive results, the trial was not initially powered for acute pancreatitis, which introduces some uncertainty regarding the robustness of these findings.
Additionally, while Olezarsen’s safety profile appears favorable and the drug is poised for a strong commercial launch, there are still pending assessments and regulatory submissions expected by the end of 2025. The Hold rating reflects a cautious stance, acknowledging the potential for significant market impact while also considering the inherent risks and uncertainties in the drug’s approval and market adoption processes.
Biliouris covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Legend Biotech, and Centessa Pharmaceuticals. According to TipRanks, Biliouris has an average return of -6.2% and a 39.23% success rate on recommended stocks.
In another report released yesterday, Stifel Nicolaus also reiterated a Hold rating on the stock with a $43.00 price target.