Barclays Upgrades Ionis Pharmaceuticals (IONS) Stock, Raises PT

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) is one of the 11 Best Mid-cap Healthcare Stocks to Buy According to Hedge Funds. Barclays upgraded the company’s stock to “Overweight” from “Equal Weight” with a price objective of $57, an increase from the prior target of $51, ahead of the Tryngolza Phase 3 CORE/CORE2 data in severe hypertriglyceridemia, as reported by The Fly. The firm expects greater than 90% probability of the trial hitting the primary endpoint and expects a high probability that it will hit all key second biomarker endpoints.

A scientist in a laboratory making a breakthrough discovery in biotechnology.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) also announced that its partner, Biogen, shared positive topline results from Phase 1 study of salanersen (ION306/BIIB115), which is an investigational antisense oligonucleotide (ASO) that is being developed for potential treatment of spinal muscular atrophy (SMA). While leveraging the same mechanism of action as SPINRAZA® (nusinersen), but designed to achieve greater potency, salanersen can achieve high efficacy and enable once-yearly dosing. In Q1 2025, Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s revenue rose by 10% as compared to the same period of last year, thanks to the increased commercial revenue, which includes new TRYNGOLZA product revenue after the approval in late December and higher SPINRAZA and WAINUA royalty revenue.

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Disclosure: None. This article is originally published at Insider Monkey.