Ionis Pharmaceuticals (IONS) Bullish View Reiterated at BMO Capital Following Spinraza Update

November 7, 2016 10:51 AM EST
Get Alerts IONS Hot Sheet
Price: $46.62 --0%

Rating Summary:
    2 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 50
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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."

For an analyst ratings summary and ratings history on Ionis Pharmaceuticals click here. For more ratings news on Ionis Pharmaceuticals click here.

Shares of Ionis Pharmaceuticals closed at $27.13 yesterday.

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