Ionis Pharmaceuticals initiated with a Neutral at Redburn Atlantic

Redburn Atlantic analyst Joshua Smith initiated coverage of Ionis Pharmaceuticals (IONS) with a Neutral rating and $39 price target Ionis is a leader in antisense oligonucleotide therapies, with a combination of partnered and wholly owned drugs in its pipeline across both rare and prevalent diseases, the analyst tells investors in a research note. The firm’s estimates are in line with consensus on earnings in the short to medium term, but has confidence from 2029 onwards. Redburn says it would need more conviction in Ionis’s pipeline sales to recommend the shares.