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Investing.com - Stifel has reiterated its Hold rating and $67.00 price target on Ionis Pharmaceuticals (NASDAQ:IONS), currently trading at $68.94, following the company’s Innovation Day. According to InvestingPro data, the stock’s RSI suggests overbought conditions, with the price hovering near its 52-week high of $70.14.
The research firm highlighted several key developments from the event, including Ionis’ longer-term revenue guidance and details about Tryngolza/olezarsen, which has shown compelling Phase 3 results. Preliminary Phase 1 data from a next-generation ApoC-III siRNA candidate was also presented. The company’s revenue grew 16.05% in the last twelve months, though InvestingPro analysis indicates weak gross profit margins at 5.3%.
Stifel noted the commercial outlook for Dawnzera in HAE and developments in Ionis’ wholly-owned neurology pipeline, which included Angelman OLE data and a new candidate for Dravet syndrome.
The stock has risen significantly since early September when olezarsen data in sHTG was disclosed, which Stifel partially attributes to a TTR "catch-up" trade following vutrisiran’s approval and strong initial launch in CM.
Investors are likely evaluating potential upside ahead of key catalysts, including results from AstraZeneca-partnered eplontersen in CM and Biogen-partnered MAPT-RX in Alzheimer’s, with Phase 3 CVOT and Phase 2 study results expected in the second half of 2026 and mid-2026, respectively.
In other recent news, Ionis Pharmaceuticals has been making significant strides with its pipeline and strategic growth plans. The company recently reported positive Phase 3 trial results for olezarsen and zilganersen, leading Oppenheimer to raise its stock price target to $90 while maintaining an Outperform rating. JPMorgan also upgraded Ionis Pharmaceuticals to Overweight, increasing its price target to $80 due to the positive developments in severe hypertriglyceridemia and Alexander Disease, as well as promising updates shared at the company’s Innovation Day.
Ionis Pharmaceuticals has outlined an ambitious growth strategy, planning four product launches by 2026, with two already achieved in under nine months. Stifel adjusted its price target for Ionis to $67, reflecting a reassessment of the TTR market, influenced by the performance of competitor Alnylam’s treatment. Additionally, Goldman Sachs upgraded Ionis to Neutral, setting a price target of $65, following positive data for Tryngolza in severe hypertriglyceridemia, with peak sales projected at $1.7 billion. These recent developments underscore Ionis Pharmaceuticals’ ongoing efforts to advance its pipeline and expand its market presence.
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