Jefferies raised the firm’s price target on Ionis Pharmaceuticals (IONS) to $96 from $83 and keeps a Buy rating on the shares after the CORE and CORE2 Phase 3 trials of olezarsen in patients with severe hyper triglyceridemia showed highly statistically significant triglyceride reductions from baseline. Following the data, the firm is increasing its estimate olezarsen peak sales to about $2.5B from $1.5B due to higher assumed penetration in sHTG.
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Read More on IONS:
- Ionis Pharmaceuticals price target raised to $95 from $70 at H.C. Wainwright
- 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