In a report released today, Joseph Stringer from Needham maintained a Buy rating on Ionis Pharmaceuticals (IONS – Research Report), with a price target of $60.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Joseph Stringer has given his Buy rating due to a combination of factors which demonstrate Ionis Pharmaceuticals’ promising financial and operational outlook. The company reported significantly higher-than-expected revenue for the fourth quarter of 2024, driven largely by research and development revenue that surpassed market expectations. Additionally, royalties from its partner Biogen’s Spinraza sales provided a substantial contribution to Ionis’ revenue.
Looking ahead, several potential catalysts are anticipated to further drive value for Ionis in 2025. The expected readout of the olezarsen Phase 3 trial in the treatment of severe hypertriglyceridemia (SHTG) and the launch of Wainua for ATTR-PN are particularly noteworthy. Furthermore, the upcoming data from the zilganersen Phase 3 trial in Alexander disease is another key factor that supports the optimistic outlook for the company’s stock.
According to TipRanks, Stringer is a 2-star analyst with an average return of 0.2% and a 38.17% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Vertex Pharmaceuticals, and Stoke Therapeutics.