H.C. Wainwright analyst Mitchell Kapoor raised the firm’s price target on Ionis Pharmaceuticals (IONS) to $95 from $70 and keeps a Buy rating on the shares after the company reported “robust” triglyceride reductions across the CORE and CORE2 pivotal studies. Following the report of trial results, the firm raised its view of the probability of approval to 85% from 75% and its peak penetration estimate to 10% from 7.5%, driving its forecast for global olezarsen sales up to $4.2B from $3.2B, the analyst tells investors.
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Read More on IONS:
- Ionis Pharmaceuticals’ Olezarsen Shows Promising Phase III Results in Reducing Triglycerides and Pancreatitis Risk
- Ionis Pharmaceuticals Announces Positive Phase 3 Study Results
- Ionis Pharmaceuticals reports CORE, CORE2 studies met primary endpoint
- Ionis Pharmaceuticals price target raised to $49 from $48 at JPMorgan
- Ionis Pharmaceuticals: Buy Rating Driven by Anticipated Phase 3 Trial Results for Olezarsen