Analyst Kostas Biliouris of BMO Capital maintained a Hold rating on Ionis Pharmaceuticals (IONS – Research Report), with a price target of $45.00.
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Kostas Biliouris has given his Hold rating due to a combination of factors influencing Ionis Pharmaceuticals’ current and future performance. The firm’s revenue for 2024 surpassed expectations by 15%, yet a projected decline in 2025, largely due to decreasing R&D revenues and increased competition in the HAE market, raises concerns about sustainable growth. Furthermore, the anticipated Pelacarsen readout has been delayed, leaving the sHTG data in the second half of 2025 as the next significant catalyst, which aligns with a cautious market outlook.
Despite these challenges, Ionis has promising developments in its pipeline, such as the PhIII data for Olezarsen and potential future opportunities like the ION582 program. However, the current lack of a robust FCS market and the competitive dynamics in ATTR-PN and ATTR-CM contribute to a conservative perspective. These elements form the basis of maintaining a Hold rating as the company navigates through these transitional phases while awaiting more decisive catalysts.
Biliouris covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Legend Biotech, and BioMarin Pharmaceutical. According to TipRanks, Biliouris has an average return of -8.9% and a 33.67% success rate on recommended stocks.
In another report released today, Barclays also maintained a Hold rating on the stock with a $51.00 price target.