Published
6 months agoon
By
adminA strong drug pipeline could boost shares of Ionis Pharmaceuticals in the future, JPMorgan says. Analyst Jessica Fye upgraded the biotech company, which develops human therapeutic drugs using antisense technology, to an overweight rating from neutral, and boosted her 12-month price her 12-month price target on the stock to $80 from $49. Shares of Ionis Pharmaceuticals have nearly tripled in just the past six months, soaring 170%. JPMorgan’s updated forecast is about 16% above where Ionis closed Tuesday. IONS YTD mountain IONS YTD chart As a catalyst, Fye touted several drugs that Ionis is currently developing. “Yes, IONS shares have enjoyed a strong rally YTD off of an arguably depressed level, however after reviewing our model and in particular raising estimates for olezarsen on the strong [acute pancreatitis] benefit, as well as breaking out risk-adjusted credit for ION582 (Angelman) and zilganersen (AxD), we expect continued outperformance from here, hence our rating change,” the analyst wrote. Fye pointed to an opportunity for Ionis to expand olezarsen, currently used to reduce triglycerides in adults with familial chylomicronemia syndrome, or FCS, into the severe hypertriglyceridemia market, or sHTG. That would expand the drug’s use beyond FCS alone. “IONS estimates that sHTG affects > 3mm patients in the U.S. alone, roughly 1mm of whom are high-risk,” Fye wrote. “Stepping back, the clear impact on AP changes our view of olezarsen’s commercial potential in sHTG and we are essentially doubling our 2033 sales forecast to $1bn from just over $500mm before.” The analyst also pointed to Ionis’ strong drug pipeline as another tailwind for the stock. “We believe Ionis is a uniquely positioned company given the depth and diversity of its pipeline, in addition to its validated technology platform and numerous collaborations,” she wrote. “Looking ahead, with multiple wholly-owned and partner launches underway/on the horizon, we see IONS entering a new phase with a clearer path to breakeven and profitability and with multiple readouts ahead, we see further levers for upside should the pipeline deliver.” ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
This industrial giant is emerging as a big AI play, says Wells Fargo
Novo Nordisk’s strategy tested as investors push back on board revamp
Alibaba plans AI subscriptions, stablecoin-like payments with JPMorgan
UK borrowing costs spike on report government to scrap plans to raise income tax
Trump’s threatened the BBC with a $1B lawsuit: Here’s what’s going on
UBS’s picks for global returns next year
Wells Fargo sees Caterpillar continuing to roar higher, emerging as an artificial intelligence play. The bank initiated shares of...
Flags with the logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss treatments Ozempic...
Key Points Alibaba plans to use “tokenization” of payments for cross-border transactions in its business-to-business arm. Kuo Zhang, president...
Rachel Reeves, U.K. chancellor of the exchequer, delivers a speech in London, UK, on Tuesday, Nov. 4, 2025. Bloomberg...
US President Donald Trump speaks to reporters as he arrives at Palm Beach International Airport on Oct. 31,...
Investors looking for global diversification opportunities should look to a specific subset of stocks in Europe, according to UBS...
Eakarat Buanoi | Istock | Getty Images LISBON, Portugal — Top tech executives told CNBC they’re concerned about...
Tan Su Shan, deputy chief executive officer and managing director of institutional banking at DBS Group Holdings Ltd., speaks during...
CHENGDU, CHINA – OCTOBER 18: People walk past the Louis Vuitton store at Taikoo Li, a high-end shopping area that...
The United States said Thursday it will remove tariffs on some foods and other imports from Argentina, Ecuador, Guatemala and...
