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Investing.com - H.C. Wainwright raised its price target on Ionis Pharmaceuticals (NASDAQ:IONS) to $65.00 from $50.00 on Thursday, while maintaining a Buy rating on the stock. The company, currently trading at $43.37 with a market capitalization of $6.9 billion, has seen its shares surge nearly 36% over the past six months, according to InvestingPro data.
The firm cited the strong launch of the company’s treatment for familial chylomicronemia syndrome (FCS) as a positive factor, but emphasized its focus remains on upcoming Phase 3 trial results. While the company maintains strong liquidity with a current ratio of 9.66, InvestingPro analysis indicates it operates with moderate debt levels and currently faces profitability challenges.
H.C. Wainwright highlighted the September Phase 3 readouts (CORE1 and CORE2) for TRYNGOLZA (olezarsen), an antisense oligonucleotide targeting apolipoprotein C-III in severe hypertriglyceridemia (sHTG) patients with triglyceride levels ≥500 mg/dL.
The firm noted that while FCS patients have triglyceride levels ≥1,000mg/dL, this represents a rare population with low incidence rates, whereas approval in sHTG would allow treatment of a broader patient group with levels ≥500mg/dL.
H.C. Wainwright indicated it has increased and accelerated its growth projections for TRYNGOLZA penetration rates, with expectations that uptake would be strongest among sHTG patients with triglyceride levels ≥1,000mg/dL and those with a prior history of acute pancreatitis. With analyst price targets ranging from $38 to $83, investors seeking deeper insights can access comprehensive valuation metrics and 8 additional key ProTips through InvestingPro’s detailed research report.
In other recent news, Ionis Pharmaceuticals reported its second-quarter 2025 earnings, which significantly exceeded revenue expectations. The company achieved a revenue of $452 million, far surpassing the forecasted $286 million, resulting in a 58.04% revenue surprise. Earnings per share (EPS) were reported at $0.70, a notable improvement from the expected -$0.24. Following these strong financial results, Ionis Pharmaceuticals raised its guidance for the remainder of the year. In response to this performance, Morgan Stanley (NYSE:MS) upgraded Ionis Pharmaceuticals from Equalweight to Overweight. The firm also increased its price target for the company from $55.00 to $62.00. This upgrade was largely attributed to the strong launch of Tryngolza and the company’s impressive earnings report. These developments mark a positive period for Ionis Pharmaceuticals.
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