Analyst Jason Gerberry from Bank of America Securities reiterated a Buy rating on Ionis Pharmaceuticals (IONS – Research Report) and keeping the price target at $63.00.
Jason Gerberry’s rating is based on the promising potential of Ionis Pharmaceuticals’ drug olezarsen for treating severe hypertriglyceridemia (sHTG). The Phase 3 trial for olezarsen is considered de-risked due to prior Phase 2 data showing significant reduction in triglyceride levels, which is the primary endpoint of the study. Additionally, the drug targets a meaningful patient segment where triglyceride lowering can significantly benefit those with extremely high triglyceride levels or a history of pancreatitis.
Furthermore, the pricing strategy for olezarsen is expected to be competitive, with a projected price range of $10,000 to $20,000, potentially leading to peak sales of around $1 billion. The unmet need in the sHTG market, especially among patients with triglyceride levels exceeding 800 mg/dL, supports the drug’s market potential. Gerberry reiterates a Buy rating on Ionis Pharmaceuticals, anticipating upside potential with multiple catalysts expected in 2025-2026.
IONS’s price has also changed moderately for the past six months – from $38.630 to $28.680, which is a -25.76% drop .