UBS Reiterates Sell Rating on Ionis Pharmaceuticals (IONS) Ahead of PKK-LRx Phase 2 Topline

March 16, 2021 6:11 AM EDT
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Price: $42.36 -0.77%

Rating Summary:
    8 Buy, 9 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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UBS analyst Esther Rajavelu reiterated a Sell rating and $33.00 price target on Ionis Pharmaceuticals (NASDAQ: IONS) noting that a "win" for a review of PKK-LRx clinical data should: 1) reduce HAE attack frequency by >90% with Q4W dosing, or 2) reduced injection burden (e.g., orals, Q8W, or one-time administration) with comparable safety/efficacy to current standards of care. Additionally, the bar for novel agents is high, near perfect resolution of HAE attacks.

The analyst stated "Our doc checks indicate a reasonable level of satisfaction with current prophylactic agents, especially Takhzyro which offers the highest rate of attack reduction with less frequent dosing than other approved agents. Therefore, our discussions suggest a novel agent with Q4W dosing would need to deliver 90%+ reduction in attack frequency (we acknowledge potential for variability on this point among physicians'/patients' views)."

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 $54.62 yesterday.

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