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Investing.com - Oppenheimer raised its price target on Ionis Pharmaceuticals (NASDAQ:IONS) to $90.00 from $84.00 on Wednesday, while maintaining an Outperform rating on the stock. The company’s shares are currently trading near their 52-week high of $70.14, having delivered an impressive 170% return over the past six months, according to InvestingPro data.
The price target increase follows Ionis’s Innovation Day presentation, which highlighted recent achievements and pipeline progress after positive Phase 3 trials of olezarsen and zilganersen.
Oppenheimer noted impressive advancement in early-stage programs, including initial results from ION775, ION337, and preclinical proof-of-concept for blood-brain barrier-crossing siRNA technology.
The research firm expressed confidence in Ionis’s commercial and clinical execution, citing the company’s favorable position ahead of multiple key Phase 3 readouts expected in the coming year.
Oppenheimer’s updated model includes the addition of ION582 and projects that Ionis remains on track to achieve $5 billion in peak sales and reach break-even by 2028, with a strategic focus on neurology and cardiometabolic diseases.
In other recent news, Ionis Pharmaceuticals has been the focus of several analyst updates and strategic announcements. JPMorgan upgraded Ionis Pharmaceuticals to Overweight, raising the price target significantly to $80, following positive results for olezarsen in severe hypertriglyceridemia and successful Phase III data in Alexander Disease. Additionally, Ionis outlined its growth strategy, planning four product launches by 2026 and four partner-led launches by the end of 2027. Stifel maintained a Hold rating but increased its price target to $67, influenced by the strong performance of a competitor’s treatment in the TTR market. Goldman Sachs upgraded Ionis to Neutral, setting a $65 price target, based on the company’s optimization of antisense oligonucleotide technology and positive Phase 3 data for Tryngolza. Furthermore, Leerink Partners raised its price target to $68, maintaining an Outperform rating, after the release of topline results for zilganersen, a treatment for Alexander disease. These developments reflect Ionis Pharmaceuticals’ active engagement in advancing its pipeline and strategic growth.
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