Moody’s downgrades Senegal to Caa1 amid rising debt concerns
Investing.com - Raymond James has raised its price target on Ionis Pharmaceuticals (NASDAQ:IONS) to $85.00 from $75.00 while maintaining a Strong Buy rating following the company’s Innovation Day. The stock, currently trading near its 52-week high of $71.87, has demonstrated remarkable momentum with a 151.93% return over the past six months.
The firm cited Ionis’ in-depth review of key value drivers across its portfolio, highlighting ongoing commercial execution, development of its Neuro/CV pipeline, and a clear path to profitability as reasons for the increased target.
Raymond James noted that Ionis appears on track with its first two wholly owned product launches - Olezarsen for FCS and Dawnzera for HAE - demonstrating solid execution in commercialization efforts.
The company announced new programs including ION775 in sHTG and ION337 in Dravet syndrome, while also providing updated data sets for ION582 in Angelman syndrome and Zilganersen in AxD, along with details on scientific advancements in expanding platforms and deliveries.
Ionis management indicated the company is financially well positioned and expects more than $5 billion in annual peak revenue, with a projected path to cash flow breakeven in 2028, prompting Raymond James to raise its 2027-2030 estimates.
In other recent news, Ionis Pharmaceuticals has caught the attention of several analysts following its Innovation Day presentation, which showcased significant advancements in its drug pipeline. Notably, Oppenheimer raised its price target for Ionis Pharmaceuticals to $90, maintaining an Outperform rating, citing progress in Phase 3 trials of olezarsen and zilganersen. Similarly, JPMorgan upgraded the stock to Overweight from Neutral, increasing its price target to $80, based on positive outcomes for olezarsen in severe hypertriglyceridemia and successful Phase III data in Alexander Disease. Stifel also adjusted its price target to $67 from $43 while maintaining a Hold rating, influenced by the competitive landscape in the TTR market.
Ionis Pharmaceuticals has outlined a robust growth strategy, announcing plans for four product launches by 2026, with two already achieved in less than nine months. The company is also anticipating four partner-led launches by the end of 2027. These developments come as Ionis continues to present compelling data from its ongoing research, including promising Phase 3 results for Tryngolza/olezarsen and preliminary data from a next-generation ApoC-III siRNA candidate. The company’s strategic focus on pipeline development and product launches highlights its commitment to advancing its position in the pharmaceutical industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.