William Blair analyst Myles Minter has reiterated their bullish stance on IONS stock, giving a Buy rating today.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Myles Minter’s rating is based on Ionis Pharmaceuticals’ strong financial performance and promising clinical developments. The company reported total revenue of $452 million, significantly surpassing both the analyst’s and consensus estimates. This impressive financial outcome was partly driven by the successful launch of Tryngolza in familial chylomicronemia syndrome (FCS), which exceeded revenue expectations.
Additionally, Ionis Pharmaceuticals secured a substantial upfront payment from Ono Pharmaceuticals for the global rights to their TMPRSS6-targeting antisense oligonucleotide sapablursen, highlighting the attractiveness of their pipeline. The narrowing of the timeline for top-line data from the Phase III CORE and CORE2 studies of olezarsen in severe hypertriglyceridemia (sHTG) to September 2025, along with positive data from the Phase III ESSENCE study, further supports the potential efficacy of their treatments. These factors collectively underpin Minter’s Buy rating, reflecting confidence in Ionis Pharmaceuticals’ future growth prospects.
In another report released today, Needham also maintained a Buy rating on the stock with a $55.00 price target.
Based on the recent corporate insider activity of 55 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.