BMO Capital Reiterates Market Perform Rating on Ionis Pharmaceuticals (IONS)

BMO Capital analyst Kostas Biliouris reiterated a Market Perform rating and $40.00 price target on Ionis Pharmaceuticals (NASDAQ: IONS).

The analyst comments "FDA approved Dawnzera for HAE prophylaxis (Q4W/Q8W), as it was largely expected, enabling IONS' second independent launch. We model ~$520M (vs. ~$700M VA cons) in peak risk-unadjusted US sales for Dawnzera (assuming annual price of ~$575K) and note that (1) HAE is a very crowded space, with upcoming competitors (mAb, gene editing) offering long-term durability; (2) Inclusion of platelet count decrease in Dawnzera label could impact uptake. Investor focus remains on Olezarsen readout in September, wherein our statistical analysis indicates ~30-35% probability for stat sig improvement on pancreatitis. Remaining Mkt."

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 $42.81 yesterday.

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