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UBS analyst Esther Rajavelu has maintained a Neutral rating on Ionis Pharmaceuticals with a price target of $45, as the stock trades near its 52-week low at $31.40. The company is focused on launching Tryngolza for familial chylomicronemia syndrome and has partnered with Sobi for commercialization outside the U.S. Despite a revenue decline of 10.5% to $705 million, Ionis has secured EU approval for WAINZUA and is advancing its investigational treatments, while management anticipates Phase 3 data for olezarsen in severe hypertriglyceridemia by late 2025.
UBS analyst Esther Rajavelu has maintained a Neutral rating on Ionis Pharmaceuticals with a price target of $45, as the stock trades near its 52-week low at $31.40. The company is focused on launching Tryngolza for familial chylomicronemia syndrome and has partnered with Sobi for marketing outside the US. Despite generating $705 million in sales, Ionis is unlikely to reach profitability this year, with ongoing studies expected to yield phase 3 data for severe hypertriglyceridemia in 2025.
Apellis Pharmaceuticals reported a wider-than-expected loss of 46 cents per share for Q3 2024, compared to a loss of $1.17 per share a year ago. Total revenues reached $196.8 million, driven by strong sales of Syfovre, which generated $152 million, up 101.8% year over year, despite missing estimates. Empaveli sales rose to $24.6 million, and licensing revenues increased by 81.3%, while general and administrative expenses decreased by 16.2%.
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