William Blair analyst Myles Minter has maintained their bullish stance on IONS stock, giving a Buy rating on August 25.
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Myles Minter’s rating is based on the impressive results from Ionis Pharmaceuticals’ recent Phase III CORE and CORE-2 studies. These studies demonstrated that olezarsen, an antisense oligonucleotide targeting ApoC-III, achieved significant reductions in triglycerides for patients with severe hypertriglyceridemia (sHTG) after six months of treatment. The reductions surpassed the expected threshold, with placebo-adjusted triglyceride reductions of 72% in the CORE study and 55% in the CORE-2 study, indicating a strong efficacy profile.
Furthermore, olezarsen showed an 85% reduction in pancreatitis events compared to placebo, a highly statistically significant outcome that addresses previous investor concerns about the magnitude and significance of pancreatitis risk reduction. This outcome positions olezarsen as a potentially groundbreaking therapy for sHTG, especially if it becomes the first approved treatment to significantly reduce acute pancreatitis events. Ionis plans to submit a supplemental New Drug Application (sNDA) for olezarsen by the end of the year, which could further enhance its competitive standing in the market.
In another report released on August 25, Needham also maintained a Buy rating on the stock with a $55.00 price target.