H.C. Wainwright Reiterates Buy Rating on Ionis Pharmaceuticals (IONS)

H.C. Wainwright analyst Mitchell Kapoor reiterated a Buy rating and $125.00 price target on Ionis Pharmaceuticals (NASDAQ: IONS).

The analyst commented: "Focus shifts to SHASTA vs. CORE1/2 on event-level efficacy and if TRYNGOLZA lead converts into durable patient scripts. Plozasiran produced 79% and 81% median triglyceride (TG) reductions at Month 12 in SHASTA-3 and SHASTA-4 vs. 27% for placebo, while the pooled analysis showed a 78% reduction in cumulative acute-pancreatitis (AP) events and a 100% reduction in patients with TGs >880 mg/dL plus prior pancreatitis. Arrowhead (ARWR; Buy; Trucchio) has yet to disclose the individual-trial AP results, treatment-arm event counts, confidence intervals, absolute risk reduction, NNT, TG-threshold attainment or numerical hepatic, platelet and discontinuation data that CORE1/CORE2 have detailed. If ultimately comparable, TRYNGOLZA’s launch execution becomes the focal point: Arrowhead’s review designation will indicate whether FDA sees sufficient incremental benefit over an approved therapy to grant Priority Review, while each month before a plozasiran launch allows Ionis to establish patients who are unlikely to switch once repeat testing confirms adequate TG control and treatment is tolerated, absent a clinical or payer reason. The next updates are the full SHASTA presentation, early TRYNGOLZA sHTG launch metrics (more informative at 3Q earnings) and Arrowhead’s review designation following sNDA before YE26. Reiterate Buy and 12-month PT of $125."

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 $54.01 yesterday.

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