William Blair analyst Myles Minter has reiterated their bullish stance on IONS stock, giving a Buy rating yesterday.
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Myles Minter has given his Buy rating due to a combination of factors related to Ionis Pharmaceuticals’ recent advancements. The company has received a breakthrough therapy designation from the FDA for its antisense oligonucleotide, ION582, which targets Angelman syndrome. This designation is significant as it accelerates the development and review process for treatments addressing serious conditions, indicating that ION582 has shown substantial improvement over existing therapies in preliminary clinical trials.
Minter also highlights the promising results from the Phase I/II HALOS study, where ION582 demonstrated improvements in cognitive and motor functions among patients. The ongoing Phase III REVEAL study further supports the potential of ION582, with the company following FDA guidelines closely. These developments suggest a strong pipeline and potential market success, justifying the Buy rating for Ionis Pharmaceuticals.
Minter covers the Healthcare sector, focusing on stocks such as Dianthus Therapeutics, Argenx Se, and Moderna. According to TipRanks, Minter has an average return of 21.6% and a 60.32% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $80.00 price target.