Ionis Pharmaceuticals: Strong Performance and Promising Pipeline Justify Buy Rating

Analyst Yaron Werber from TD Cowen reiterated a Buy rating on Ionis Pharmaceuticals (IONS – Research Report) and keeping the price target at $59.00.

Yaron Werber has given his Buy rating due to a combination of factors surrounding Ionis Pharmaceuticals’ recent performance and future prospects. The company reported robust Spinraza royalties, surpassing both consensus and internal estimates, which indicates resilience and potential for market share expansion with upcoming high-dose approvals. Additionally, the strong launch of Tryngolza, with sales significantly exceeding expectations, highlights successful patient uptake and favorable payor dynamics.
Furthermore, despite some challenges with Wainua due to Medicare rebates, the product’s global sales remain solid, and future approvals in the EU are anticipated to contribute positively. The promising pipeline with Phase 3 data expected in the coming years for multiple products also supports a positive outlook. These factors collectively underpin Werber’s confidence in Ionis Pharmaceuticals, justifying the Buy rating.

Werber covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Argenx Se, and Amgen. According to TipRanks, Werber has an average return of 4.5% and a 46.17% success rate on recommended stocks.

In another report released today, Needham also reiterated a Buy rating on the stock with a $55.00 price target.