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Investing.com - Jefferies has reiterated its Buy rating and $83.00 price target on Ionis Pharmaceuticals (NASDAQ:IONS), maintaining its positive outlook on the biopharmaceutical company. The target represents significant upside from the current price of $43.17, with InvestingPro data showing the stock has already gained over 36% in the past six months.
The research firm highlighted recent discussions with AstraZeneca (NASDAQ:AZN) management regarding the Phase 3 CARDIO-TTRansform trial in ATTR-CM, which is expected to report results in the second half of 2026.
According to Jefferies, AstraZeneca is emphasizing the importance of demonstrating the benefit of tafamidis combination therapy to drive first-line uptake, as well as exploring treatment sequencing for amyloid debulking based on Phase 1 efficacy signals.
Jefferies also noted a recent update to the Ionis/AstraZeneca ATTR-CM Phase 3 trial for eplontersen on ClinicalTrials.gov, which added cardiovascular mortality and events in the tafamidis combination group as a prespecified secondary endpoint.
While awaiting olezarsen’s severe hypertriglyceridemia (sHTG) topline results expected in September 2025, Jefferies estimates Ionis has approximately a 70% chance of meeting its endpoint for acute pancreatitis.
In other recent news, Ionis Pharmaceuticals has reported impressive second-quarter 2025 financial results, surpassing revenue expectations significantly. The company posted a revenue of $452 million, well above the forecasted $286 million, resulting in a 58.04% revenue surprise. Earnings per share also exceeded projections, reaching $0.70 compared to the anticipated -$0.24. Following these results, Morgan Stanley (NYSE:MS) upgraded Ionis Pharmaceuticals from Equalweight to Overweight, raising its price target to $62.00 from $55.00, citing the strong launch of Tryngolza. Additionally, H.C. Wainwright increased its price target for the company from $50.00 to $65.00, maintaining a Buy rating. This adjustment was influenced by the successful launch of Ionis’s treatment for familial chylomicronemia syndrome (FCS) and the anticipation of upcoming Phase 3 trial results. These developments reflect the company’s strong performance and positive outlook as evaluated by analysts.
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