Michael Ulz, an analyst from Morgan Stanley, reiterated the Buy rating on Ionis Pharmaceuticals. The associated price target remains the same with $94.00.
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Michael Ulz has given his Buy rating due to a combination of factors that highlight the promising potential of Ionis Pharmaceuticals’ olezarsen. The recent Phase 3 data presented at the American Heart Association meeting demonstrated significant reductions in triglyceride levels among patients with severe hypertriglyceridemia. These reductions were rapid and robust, with a majority of patients reaching levels that significantly lower their risk of pancreatitis.
Furthermore, the data showed a substantial decrease in acute pancreatitis events, with an 85% reduction compared to the placebo group. This supports the broad potential use of olezarsen, especially among high-risk patients. The regulatory filing for olezarsen remains on track, with approval anticipated by the fourth quarter of 2026, potentially even sooner with a priority review. These compelling results reinforce the belief in olezarsen’s blockbuster potential, justifying the Buy rating.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $110.00 price target.