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Investing.com - Wells Fargo (NYSE:WFC) has raised its price target on Ionis Pharmaceuticals (NASDAQ:IONS) to $82.00 from $77.00 while maintaining an Overweight rating following the approval of DAWNZERA for hereditary angioedema (HAE). The stock, currently trading at $43.24, has shown strong momentum with a 33.77% gain over the past six months. According to InvestingPro data, analyst price targets for IONS range from $40 to $83.
The market for HAE treatments includes approximately 7,000 patients in the U.S., with about 75% currently on prophylactic treatments and more than 90% expressing interest in new prophylactic options, according to Ionis. The company, with a market capitalization of $6.86 billion and revenue growth of 16.05% in the last twelve months, noted that HAE is a concentrated market, with roughly 1,000 allergists and immunologists treating 90% of patients.
DAWNZERA’s approval was based on the Phase 3 OASIS-HAE study, which demonstrated that the drug administered every four weeks reduced monthly HAE attack rates by 81% versus placebo over 24 weeks. The every-eight-week dosing regimen showed a 55% reduction in attack rates compared to placebo.
The drug’s label includes efficacy data showing DAWNZERA reduced moderate-to-severe HAE attacks by 89% when administered every four weeks and by 41% when given every eight weeks compared to placebo over the 24-week study period.
The safety profile in the label includes a warning for hypersensitivity reactions, including anaphylaxis, based on data from both the OASIS-HAE study and the OASISplus open-label extension. Ionis reported that two episodes of hypersensitivity reactions occurred in the extension study, both resolving quickly without long-term implications, and does not expect this warning to significantly impact the product launch. For deeper insights into IONS’s financial health (rated FAIR by InvestingPro) and comprehensive analysis, investors can access the detailed Pro Research Report, available exclusively to Pro subscribers.
In other recent news, Ionis Pharmaceuticals announced the FDA approval of Dawnzera for the prophylaxis of hereditary angioedema in patients aged 12 and older. This approval allows Ionis to launch its second independent product, with BMO Capital modeling approximately $520 million in peak risk-unadjusted US sales for Dawnzera, though this figure is below the consensus estimate of around $700 million. Following this development, Stifel raised its price target for Ionis Pharmaceuticals to $43 while maintaining a Hold rating. Additionally, Jefferies reiterated its Buy rating with an $83 price target, maintaining a positive outlook on the company.
Morgan Stanley (NYSE:MS) upgraded Ionis Pharmaceuticals from Equalweight to Overweight, citing a strong launch of Tryngolza and raising its price target to $62. This upgrade follows the company’s second-quarter 2025 financial results, which exceeded analyst expectations and led to an upward revision of its annual guidance. H.C. Wainwright also increased its price target for Ionis to $65 from $50, maintaining a Buy rating and highlighting the strong launch of the treatment for familial chylomicronemia syndrome. The firm noted a continued focus on upcoming Phase 3 trial results. BMO Capital, meanwhile, maintained its Market Perform rating and a $40 price target following the Dawnzera approval.
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