Shares of Ionis Pharmaceuticals (IONS) surged to a four-year high after the company’s lipid-lowering drug, Tryngolza, successfully met the primary goal in late-stage clinical trials. The breakthrough boosts Ionis’ drug pipeline by expanding Tryngolza’s potential uses. Following the news, IONS stock gained almost 35% in Tuesday’s trading session.
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Ionis specializes in RNA-targeted therapies for a range of diseases. Its first fully owned product, Tryngolza, was initially approved in December 2024 for the rare inherited condition familial chylomicronemia syndrome (FCS). FCS is a rare genetic disorder that causes dangerously high triglyceride (a type of fat) levels.
Ionis Drug Trial Success Opens Door for Wider Use
Ionis’ Tryngolza (olezarsen) achieved the main goals in two Phase 3 clinical trials, showing it can significantly reduce triglyceride levels in patients with hypertriglyceridemia. For context, hypertriglyceridemia is a condition where triglyceride levels in the blood are abnormally high, raising the risk of heart disease and pancreatitis.
Specifically, the trials showed that olezarsen lowered fasting triglyceride levels by up to 72% versus placebo and cut acute pancreatitis events by 85%, highlighting its strong therapeutic potential.
Building on these results, the company plans to seek FDA approval by year-end to expand the drug’s label to include severe hypertriglyceridemia. Tryngolza has generated $25.6 million in sales during the first half of 2025.
Analysts Praise Trial Results
Following the strong trial results, analyst Mani Foroohar at Leerink Partners stated that the data clearly exceed the “blue-sky scenario” for Tryngolza, strengthening its position in a potential “multi-billion-dollar market.” Meanwhile, RBC Capital Markets analyst Luca Issi called it “an absolute best-case scenario for Ionis.”
Both analysts maintain Buy ratings on IONS stock.
In addition, firms such as Morgan Stanley, Barclays, and Oppenheimer have raised their price targets, reflecting renewed optimism.
Is Ionis a Good Stock to Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on IONS stock based on 15 Buys and five Holds assigned in the past three months. Furthermore, the average Ionis stock price target of $66.56 per share implies an upside of 16% from current levels.
