Promising Clinical Trial Results and Market Potential Justify Buy Rating for Ionis Pharmaceuticals

Citi analyst David Lebowitz maintained a Buy rating on Ionis Pharmaceuticals (IONS – Research Report) yesterday and set a price target of $64.00.

David Lebowitz has given his Buy rating due to a combination of factors, primarily focusing on the promising results from Ionis Pharmaceuticals’ recent clinical trials. The company’s drug, Tryngolza (olezarsen), demonstrated significant efficacy in reducing triglyceride levels in patients with moderate hypertriglyceridemia during the Phase 3 ESSENCE trial. These results, showing reductions of 61% and 58% in triglyceride levels at different dosages, highlight the drug’s potential effectiveness.
Although the ESSENCE trial is not pivotal, it provides valuable safety data that could support future label expansion into severe hypertriglyceridemia. The upcoming pivotal CORE/CORE2 trial results, expected in the third quarter of 2025, are anticipated to be crucial for Ionis’s market penetration strategy. With an expected share price return of 88.1%, Lebowitz sees significant upside potential, justifying the Buy rating despite the high-risk classification.

In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $59.00 price target.