H.C. Wainwright Reiterates Buy Rating on Ionis Pharmaceuticals (IONS)

H.C. Wainwright analyst Mitchell Kapoor reiterated a Buy rating and $120.00 price target on Ionis Pharmaceuticals (NASDAQ: IONS).

The analyst commented: "Yesterday, Swedish Orphan Biovitrum AB announced European Medicines Agency (EMA) validation of the indication extension for Tryngolza (olezarsen) in severe hypertriglyceridemia (sHTG ≥880 mg/dL), supported by the pivotal Phase 3 CORE/CORE2 data. While validation is procedural, and not surprising, it marks the first concrete step toward ex-U.S. commercialization in a population orders of magnitude larger than familial chylomicronemia syndrome (FCS). Importantly, this is the same dataset that demonstrated the first-ever reduction in acute pancreatitis (AP) risk in sHTG, which remains the key value driver for payers and prescribers. The incremental implication for IONS is that the global revenue opportunity for Tryngolza is now beginning to materialize, and Europe now becomes a tangible contributor rather than highly likely upside scenario. We reiterate our Buy rating and 12-month price target of $120 per share."

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 $72.52 yesterday.

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