Ionis Pharma (IONS): Data Presentations Increase Confidence - BMO
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BMO Capital analyst, Do Kim, reiterated his Outperform rating on shares of Ionis Pharmaceuticals (NASDAQ: IONS) after Ionis and Avexis had key data presentations at the 2016 World Muscle Society (MWS), where both Nusinersen and AVX-101 showed impressive diseasealtering improvements in a previously untreatable disorder.
The analyst believes Nusinersen's Phase II NURTURE study in pre-symptomatic patients supports nearly normal development (no events) of type 1 patients, similar to Avexis's Phase I data. The analyst believes NURTURE could bridge any efficacy difference seen between the two drugs. Upcoming key catalysts will be AXVS-101 Phase III study design and Nusinersen's approval timing. No change to the price target of $48.
Shares of Ionis Pharmaceuticals closed at $34.26 yesterday.
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