Ionis Pharmaceuticals upgraded to Outperform from Market Perform at BMO Capital

BMO Capital analyst Kostas Biliouris upgraded Ionis Pharmaceuticals (IONS) to Outperform from Market Perform with a price target of $70, up from $40. The firm says olezarsen’s better than expected acute pancreatitis. benefit outperformed expectations and can render the drug a fully-owned blockbuster for Ionis in the U.S. In addition, BMO expects the company’s upcoming readouts in 2026 to be positive. Meanwhile, Ionis’s Angelman program could deliver a multi-billion dollar opportunity, the analyst tells investors in a research note.