Analyst Mani Foroohar from Leerink Partners reiterated a Buy rating on Ionis Pharmaceuticals (IONS – Research Report) and increased the price target to $55.00 from $52.00.
Mani Foroohar has given his Buy rating due to a combination of factors that highlight Ionis Pharmaceuticals’ strategic positioning and financial prospects. The recent licensing agreement with Ono provides Ionis with a substantial upfront payment and potential milestone earnings, which strengthens the company’s balance sheet and aligns with its strategy to partner on extended pipeline programs.
Furthermore, the deal enhances Ionis’ financial flexibility, allowing it to explore refinancing options from a position of strength. This partnership also supports Ionis’ ongoing and future product launches, such as Tryngolza and donidalorsen, which are expected to drive growth. The positive implications of the deal terms, alongside the company’s strategic initiatives, underpin the Buy rating and the increased price target.
In another report released on March 12, Oppenheimer also reiterated a Buy rating on the stock with a $78.00 price target.
IONS’s price has also changed moderately for the past six months – from $42.190 to $32.900, which is a -22.02% drop .
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