JPMorgan analyst Jessica Fye upgraded Ionis Pharmaceuticals (IONS) to Overweight from Neutral with a price target of $80, up from $49. The company’s multiple launches put it on a path to breakeven, the analyst tells investors in a research note. After raising estimates for olezarsen on the “strong” acute pancreatitis benefit, and breaking out risk-adjusted credit for ION582 and zilganersen, JPMorgan expects continued share outperformance from here. Ionis is entering a “new phase with a clearer path to breakeven and profitability,” the analyst tells investors in a research note.
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