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Investing.com - BMO Capital upgraded Ionis Pharmaceuticals (NASDAQ:IONS) from Market Perform to Outperform and set a price target of $70.00. The stock has shown remarkable momentum, surging 34% in the past week and 76% over the last six months, according to InvestingPro data.
The upgrade reflects BMO’s positive outlook on Olezarsen, which demonstrated better-than-expected AP benefit that surpassed both analyst and investor expectations. BMO believes this performance positions Olezarsen to become a fully-owned blockbuster drug in the US market. With analyst targets ranging from $40 to $96, InvestingPro data shows the stock trading near its 52-week high of $57.92.
BMO Capital cited upcoming key readouts for Lp(a) and ATTR-CM expected in 2026 as additional catalysts that could drive upside for the company. The firm anticipates these readouts will yield positive results.
The analyst also highlighted Ionis’ Angelman program as a potential multi-billion dollar opportunity that could further enhance the company’s value proposition.
BMO noted that Ionis is positioned to achieve profitability around 2027, which the firm views as advantageous in the current uncertain market environment. While acknowledging that Ionis would benefit from greater pipeline focus, BMO believes the risk/reward profile is skewed to the upside.
In other recent news, Ionis Pharmaceuticals has reported significant developments that have caught the attention of analysts and investors alike. The company announced positive Phase 3 trial results for its drug olezarsen, which demonstrated a substantial reduction in triglycerides and an 85% reduction in acute pancreatitis events among patients with severe hypertriglyceridemia. This success has led Oppenheimer to raise its price target for Ionis Pharmaceuticals from $78 to $81, maintaining an Outperform rating. Similarly, Stifel has reiterated its Hold rating with a $43 price target following these promising clinical trial outcomes. Additionally, Ionis Pharmaceuticals received FDA approval for Dawnzera, its treatment for hereditary angioedema, prompting Piper Sandler to increase its price target from $62 to $65. H.C. Wainwright also raised its price target to $70, emphasizing the potential market share Dawnzera could capture from competitors. These developments underscore the company’s progress in advancing its drug pipeline and achieving regulatory milestones.
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