Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
Investing.com - TD Cowen has reiterated a Buy rating and $59.00 price target on Ionis Pharmaceuticals (NASDAQ:IONS), citing the company’s robust cardiometabolic and neurology pipelines with multiple late-stage catalysts. The stock, currently trading near its 52-week high of $71.87, has shown remarkable momentum with a 151.93% gain over the past six months.
The firm highlighted the strong uptake of Tryngolza in familial chylomicronemia syndrome (FCS), with a planned expansion into severe hypertriglyceridemia (sHTG) targeting approximately one million patients. TD Cowen also noted that ION775 demonstrated durable triglyceride-lowering effects after six months.
In the neurology space, ION582 is currently enrolling patients in the Phase 3 REVEAL trial, while zilganersen has shown impressive data, according to the research note. The company is also developing several early-stage next-generation agents.
Management has provided guidance indicating the company expects to reach breakeven by 2028 with peak revenues exceeding $5 billion. The firm characterized Ionis as "firing on all cylinders" with late-stage catalysts ahead.
TD Cowen’s assessment came following Ionis Pharmaceuticals’ Innovation Day, which showcased the company’s pipeline and growth strategy across its key therapeutic areas.
In other recent news, Ionis Pharmaceuticals has made significant strides in its pipeline and growth strategy, capturing the attention of several investment firms. During its Innovation Day, Ionis presented positive Phase 3 trial results for olezarsen and zilganersen, leading Oppenheimer to raise its price target to $90 while maintaining an Outperform rating. Similarly, JPMorgan upgraded Ionis from Neutral to Overweight, citing successful Phase III data in Alexander Disease and a robust pipeline, and increased its price target to $80. Raymond James also raised its price target to $85, emphasizing Ionis’ commercial execution and a clear path to profitability.
In addition, Stifel maintained its Hold rating with a $67 price target, noting the company’s long-term revenue guidance and promising data from its Tryngolza/olezarsen candidate. Beyond analyst ratings, Ionis outlined its growth strategy, planning four launches by 2026, with two already achieved in under nine months. CEO Brett P. Monia also announced expectations for four partner-led launches by the end of 2027. These developments underscore Ionis Pharmaceuticals’ active pursuit of growth and innovation in the biopharmaceutical sector.
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