Bank of America Securities analyst Jason Gerberry reiterated a Buy rating on Ionis Pharmaceuticals yesterday and set a price target of $69.00.
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Jason Gerberry has given his Buy rating due to a combination of factors including the promising results from the Phase 3 CORE trials for Ionis Pharmaceuticals’ olezarsen in treating severe hypertriglyceridemia. The trials demonstrated a significant reduction in triglyceride levels and acute pancreatitis events, surpassing investor expectations and indicating a strong commercial potential for olezarsen. This success has led to a de-risking of the projected peak U.S. sales for olezarsen, prompting an increase in the price objective for Ionis’ stock.
Furthermore, the favorable safety profile of the drug and the strategic plans to engage with payers to optimize pricing suggest additional upside potential. The anticipated catalysts in 2025-26, including further Phase 3 trials in other indications and the launch of olezarsen, reinforce the positive outlook. These factors collectively support the Buy rating, highlighting Ionis Pharmaceuticals as a promising investment opportunity.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $70.00 price target.