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IONS

Ionis Pharmaceuticals

$36.38

0.72 (2.02%)

, ALNY

Alnylam

$70.30

1.73 (2.52%)

08:57
10/06/16
10/06
08:57
10/06/16
08:57

Ionis Pharmaceuticals upgraded on reduced competition, valuation at BMO Capital

As noted earlier, BMO Capital upgraded Ionis (IONS) to Outperform from Market Perform. After Alnylam (ALNY) announced that it was discontinuing one of its Phase III RNAi drugs due to poor clinical outcomes, BMO Capital analyst Do Kim expects Ionis to benefit from the reduced competition. Kim recommends buying Ionis' stock on weakness today. Target to $48 from $42.

IONS

Ionis Pharmaceuticals

$36.38

0.72 (2.02%)

ALNY

Alnylam

$70.30

1.73 (2.52%)

  • 07

    Oct

  • 14

    Oct

  • 06

    Nov

IONS Ionis Pharmaceuticals
$36.38

0.72 (2.02%)

10/06/16
BMOC
10/06/16
UPGRADE
BMOC
Outperform
Ionis Pharmaceuticals upgraded to Outperform from Market Perform at BMO Capital
10/06/16
PIPR
10/06/16
NO CHANGE
Target $46
PIPR
Overweight
Piper thinks Alnylam failure is positive for Ionis
Piper Jaffay analyst Joshua Schimmer thinks Alnylam Pharmaceuticals' (ALNY) "abrupt halt" of revusiran for TTR cardiomyopathy is likely a positive for Ionis Pharmaceuticals' (IONS) transthyretin program. The move "knocks out a competitive drug" while Ionis and GlaxoSmithKline (GSK) remain on their previously indicated timeline, Schimmer tells investors in a research note. The analyst at this point believes Alnylam's setback will be limited to revusiran and not read-through to other Gal-Nac programs or other TTR cardiomyopathy or polyneuropathy programs. He keeps an Overweight rating on Ionis with a $46 price target,
10/06/16
RBCM
10/06/16
NO CHANGE
RBCM
Alnylam news not a negative read through on other RNAi drugs, says RBC Capital
After Alnylam (ALNY) announced that it was discontinuing one of its Phase III RNAi drugs due to poor clinical outcomes, RBC Capital analyst Michael Yee does not thinks that the news indicates problems with all RNAi drugs. Rather, he thinks that RNAi was not the proper treatment for the disease that Alnylam was targeting. Other companies with RNAi treatments include The Medicines Company (MDCO0, Ionis Pharmaceuticals (IONS), Arrowhead (ARWR), and Arbutus Biopharma (ABUS).
10/06/16
WELS
10/06/16
NO CHANGE
WELS
Ionis has no read through from negative Alnylam data, says Wells Fargo
After Ionis (IONS) competitor Alnylam Pharmaceuticals (ALNY) announced that it was terminating the development of its revusiran RNAi drug due to poor outcomes in clinical trials, Wells Fargo thinks that the news is "a significant positive" for Ionis because it eliminates a competitor. The firm says that Ionis' drug is significantly different than Alnylam's product, and it believes that Ionis' treatment appears to be superior. The firm keeps an Outperform rating on Ionis.
ALNY Alnylam
$70.30

1.73 (2.52%)

10/06/16
JEFF
10/06/16
NO CHANGE
Target $58
JEFF
Buy
Alnylam price target lowered to $58 from $86 at Jefferies
Jefferies analyst Gena Wang lowered her price target for Alnylam Pharmaceuticals to $58 from $86 following the termination of revusiran Phase 3 due to mortality imbalance. The analyst believes the setback, while "major," is likely to be program specific and not impact the company's other trials. She keeps a Buy rating on Alnylam.
10/06/16
COWN
10/06/16
NO CHANGE
Target $100
COWN
Outperform
Alnylam price target lowered to $100 from $150 at Cowen
Cowen analyst Ritu Baral noted Alnylam announced the discontinuation of revusiran for the treatment of hereditary ATTR amyloidosis with cardiomyopathy due to risk/benefit and safety signals. The analyst does not believe it signals any risk to the platform, as other programs have shown solid safety. Baral said revusiran was a minor driver so she maintained her Outperform rating and lowered her price target to $100 from $150 on Alnylam shares.

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