Analyst Upgrades Ionis Pharmaceuticals To Buy Amid Key Pipeline Developments: Eplontersen And Donidalorsen Show Promising Outlook
Portfolio Pulse from Vandana Singh
Citi analyst has upgraded Ionis Pharmaceuticals Inc (IONS) from Neutral to Buy with a price target of $60, up from $36, due to key pipeline developments. Ionis recently completed enrollment in Phase 3 CARDIO-TTRansform study of eplontersen and expanded its collaboration with AstraZeneca (AZN) for commercialization of eplontersen in Latin America. The FDA decision for eplontersen is expected by YE2023. The analyst also shows interest in donidalorsen for HAE, with a pivotal Phase 3 readout expected in the first half of 2024.
July 31, 2023 | 5:55 pm
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The analyst's prediction that Alnylam Pharmaceuticals' Amvuttra is poised to lead the market could potentially increase investor confidence in the company, which could have a positive impact on its stock in the short term.
CONFIDENCE 70
IMPORTANCE 50
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AstraZeneca has expanded its collaboration with Ionis Pharmaceuticals for the commercialization of eplontersen in Latin America.
The expanded collaboration with Ionis Pharmaceuticals for the commercialization of eplontersen in Latin America could potentially increase AstraZeneca's market presence and revenues in the region, which could have a positive impact on its stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
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Ionis Pharmaceuticals has been upgraded by Citi from Neutral to Buy with a price target of $60, up from $36. This is due to key pipeline developments and a positive outlook for eplontersen and donidalorsen.
The upgrade by Citi, along with the increased price target, indicates a positive outlook for Ionis Pharmaceuticals. The key pipeline developments, including the completion of enrollment in Phase 3 study of eplontersen and the expanded collaboration with AstraZeneca, are likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100