J.P. Morgan analyst Jessica Fye has maintained their bullish stance on IONS stock, giving a Buy rating on November 8.
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Jessica Fye has given her Buy rating due to a combination of factors that highlight the promising potential of Ionis Pharmaceuticals’ olezarsen. The impressive results from the phase III CORE 1 and 2 studies demonstrated a significant reduction in acute pancreatitis events, with an impressive number needed to treat (NNT) of 20 in the overall population and an even more striking NNT of 4 in the highest-risk subgroup. These results suggest a strong efficacy profile that could drive uptake and support a reasonable pricing strategy.
Additionally, the safety and tolerability profile of olezarsen is considered favorable, with manageable increases in hepatic fat fraction and minimal clinical sequelae. The potential market opportunity is substantial, targeting approximately 1 million high-risk severe hypertriglyceridemia patients in the US. Ionis Pharmaceuticals is poised to capitalize on this opportunity with a strategic launch plan and a projected significant market penetration. These factors collectively underpin Jessica Fye’s optimistic outlook and Buy rating for Ionis Pharmaceuticals.