Ionis Pharmaceuticals’ Promising Future: Buy Rating Backed by Positive Phase 3 Study Results and Upcoming Milestones

Yanan Zhu, an analyst from Wells Fargo, maintained the Buy rating on Ionis Pharmaceuticals (IONS – Research Report). The associated price target remains the same with $77.00.

Yanan Zhu has given his Buy rating due to a combination of factors that highlight Ionis Pharmaceuticals’ promising future. The recent Phase 3 Essence study data for olezarsen demonstrated significant triglyceride-lowering effects, which are comparable to or potentially better than competing treatments like ARWR’s plozasiran in moderate hypertriglyceridemia. This positions olezarsen favorably for commercial success in severe hypertriglyceridemia, especially given that the dosing frequency differences are not expected to impact its competitive edge.
Additionally, the study’s results showed that olezarsen met its primary and secondary endpoints, achieving a substantial reduction in triglyceride levels and demonstrating a favorable safety profile. The upcoming data from the Phase 3 CORE and CORE2 studies, expected later this year, along with a potential supplemental Biologics License Application filing by year-end, further support the positive outlook for Ionis Pharmaceuticals. These factors collectively contribute to the Buy rating, reflecting confidence in the company’s ability to capitalize on its recent clinical successes.

In another report released yesterday, Citi also maintained a Buy rating on the stock with a $64.00 price target.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IONS in relation to earlier this year.