Ionis Pharmaceuticals (IONS) Reports Strong 1Q, Eplontersen PN Data Soon - BMO Capital
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BMO Capital analyst Do Kim reiterated an Outperform rating and $70.00 price target on Ionis Pharmaceuticals (NASDAQ: IONS) after the company reported 1Q revenue / non-GAAP EPS of $142mm / $(0.27) which beat
cons. $123mm / $(0.48).
The analyst stated "Strong 1Q driven by $40mm BIIB milestones for neuro programs and higher licensing revenue, while Spinraza performed well and opex was lower. Guidance reaffirmed and seems very achievable. Key focus on Eplontersen with ATTR-PN data midyear, and IONS explained rationale for extending CM study (partner AZN) to increase patients/duration that will provide even more robust data and potentially position drug better in large/competitive market."
Shares of Ionis Pharmaceuticals closed at $38.05 yesterday.
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