Ionis Pharmaceuticals: Buy Rating Affirmed Amid Promising Clinical Trial Results and Future Prospects

Leerink Partners analyst Mani Foroohar has maintained their bullish stance on IONS stock, giving a Buy rating yesterday.

Mani Foroohar has given his Buy rating due to a combination of factors related to Ionis Pharmaceuticals’ recent clinical trial results and future prospects. The Phase 3 ESSENCE study demonstrated significant efficacy in reducing triglyceride levels in patients with moderate hypertriglyceridemia, achieving a statistically significant reduction compared to placebo. The safety profile was favorable, with the most common side effect being injection site reactions, which were expected.
While the ESSENCE study results are positive, they are not anticipated to significantly impact the stock as the mechanism of action had already been de-risked in earlier studies. The focus is now on the upcoming CORE/CORE2 data, expected in the third quarter of 2025, which will be crucial for assessing the potential for reimbursement and competitive positioning, especially in relation to reducing acute pancreatitis risk. This future data could expand Ionis’s market beyond its current niche, making it a compelling investment opportunity.

Foroohar covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, RegenXBio, and Schrodinger. According to TipRanks, Foroohar has an average return of -13.5% and a 38.08% success rate on recommended stocks.

In another report released yesterday, Raymond James also reiterated a Buy rating on the stock with a $60.00 price target.