Ionis Pharmaceuticals (IONS) PT Raised to $53 at Stifel

Stifel analyst Paul Matteis raised the price target on Ionis Pharmaceuticals (NASDAQ: IONS) to $53.00 (from $50.00) while maintaining a Hold rating.

The analyst commented: "While there are still a few key HELIOS-B questions (i.e. KM curve separation) that are yet to be answered, we think this result is an outstanding outcome for ALNY and we're raising our target price to $295. We believe the result is also bullish for AZN/IONS' eplontersen (IONS target to $53), although, based on KOL feedback, it's simply less clear now where BBIO's acoramidis fits into the treatment paradigm. While ESC should fully answer the question around how much better the vutrisiran data are vs ATTR-ACT and ATTRibute-CM, from our discussions with KOLs it seems like the worst case for vutri is that it's, (1) the go-to second-line drug in patients who start on afraid, and (2) at least somewhat competitive in first-line, and there's a realistic scenario where it's the first-line choice for many physicians/patients. For ALNY this implies a ~$5-$6B opportunity, as the company advances 9 additional INDs by YE25."

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