Analyst Creates Bullish Pitch On Ionis Pharmaceuticals Citing 'Strategic Pivot Underway'
Portfolio Pulse from Vandana Singh
Piper Sandler assumes coverage of Ionis Pharmaceuticals with an Overweight rating and a price target of $58, citing a strategic pivot towards commercializing select assets. The analyst sees three key late-stage value drivers: eplontersen, olezarsen, and donidalorsen. Eplontersen is co-commercialized with AstraZeneca in the U.S.
June 07, 2023 | 6:26 pm
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AstraZeneca is co-commercializing eplontersen, one of Ionis Pharmaceuticals' key late-stage value drivers, in the U.S.
AstraZeneca's partnership with Ionis Pharmaceuticals to co-commercialize eplontersen in the U.S. could have a positive impact on AstraZeneca's stock price in the short term, as it is one of the key late-stage value drivers for Ionis. However, the impact may be less significant compared to Ionis Pharmaceuticals.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Piper Sandler assumes coverage of Ionis Pharmaceuticals with an Overweight rating and a price target of $58, citing a strategic pivot towards commercializing select assets.
Piper Sandler's Overweight rating and price target of $58 for Ionis Pharmaceuticals indicate a positive outlook for the company. The strategic pivot towards commercializing select assets and the three key late-stage value drivers are expected to drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100