Ionis Pharmaceuticals (IONS) Bullish View Reiterated at BMO Capital Following Spinraza Update
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BMO Capital analyst Do Kim reiterated an Outperform rating and $48 price target on Ionis Pharmaceuticals (NASDAQ: IONS) interim data from the Spinraza (nusinersen) CHERISH study.
Kim commented, "While AVXS-101 narrowed the timeline in SMA infants, we believe these results increased Spinraza's lead in children (Type 2). In addition, FDA feedback suggests Spinraza approval by year-end or 1Q17, ahead of a May 2017 PDUFA. Given the FDA's willingness to expedite SMA drug development and review, we believe approval for Type 2 could shortly follow. We maintain our Spinraza estimates and $48 price target, with potential upside from faster approval in children."
Shares of Ionis Pharmaceuticals closed at $27.13 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Related EntitiesBMO Capital, S1, PDUFA
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