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IONS

Ionis Pharmaceuticals

$53.23

1.62 (3.14%)

13:24
11/06/18
11/06
13:24
11/06/18
13:24

Piper taking 'glass half full' view of Tegsedi, but maintains Neutral on Ionis

Piper Jaffray analyst Tyler Van Buren noted that Spinraza royalties paid to Ionis Pharmaceuticals came in higher than expected in Q3 due to the continued uptake in the U.S. and more linear growth outside of the U.S. He also noted that Tegsedi is now launched in multiple global markets, but cautioned that the initial launch will likely require patience due to the need for REMS and platelet monitoring logistics to "get sorted out," which leads him to keep a Neutral rating on Ionis shares. However, Van Buren said he is taking a "glass half full" stance as feedback from key opinion leader doctors leads him to see the chance for Tegsedi sales to eventually surprise to the upside. Van Buren has a $50 price target on Ionis shares.

  • 06

    Nov

  • 27

    Nov

IONS Ionis Pharmaceuticals
$53.23

1.62 (3.14%)

10/08/18
GSCO
10/08/18
NO CHANGE
Target $36
GSCO
Sell
Ionis' Tegsedi to face commercial headwinds, says Goldman Sachs
After the FDA approved Ionis (IONS) and affiliate Akcea Therapeutics' (AKCA) Tegsedi for adult polyneuropathy of hereditary transthyretin-mediated amyloidosis, but with a black box warning, Goldman Sachs analyst Salveen Richter said he believes the drug faces commercial headwinds. He cites the underlying safety profile and requirement for consistent monitoring as well as the recent launch of Alnylam's (ALNY) Onpattro and expected launch of Pfizer's (PFE) tafamidis in the first half of 2019. Richter keeps a Sell rating on Ionis shares with a price target of $36.
10/08/18
CANT
10/08/18
INITIATION
Target $135
CANT
Overweight
Cantor reiterates Overweight on Alnylam after Akcea, Ionis win approval
Cantor Fitzgerald analyst Alethia Young reiterates an Overweight rating on Alnylam Pharmaceuticals (ALNY) with a $135 price target after the FDA approved Tegsedi, to be marketed by Akcea Therapeutics (AKCA). The analyst says that while the approval introduces another competitor to the market, she still expects Alnylam's Onpattroto be able to take significant share in the polyneuropathy hATTR market. Young thinks the Tegsedi label is more onerous and currently models a 60% peak share to Alnylam, a 25% share to Tegsedi and 15% to future competition.
10/07/18
PIPR
10/07/18
NO CHANGE
Target $160
PIPR
Overweight
Alnylam's Onpattro highly efficacious, safer than competitor, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff notes that Ionis Pharmaceuticals (IONS) announced FDA approval of TEGSEDI for treatment of hATTR polyneuropathy. The analyst also points out that the label includes a Black Box warning for thrombocytopenia and glomerulonephritis requiring every 2-week monitoring, and will be marketed by Ionis subsidiary Akcea (AKCA) with a Risk Evaluation and Mitigation Strategy. TEGSEDI is administered subcutaneously every week versus Alnylam's (ANLY) ONPATTRO intravenously every 3 weeks with steroids, he adds. Tenthoff believes that ONPATTRO appears safer and highly efficacious, and should win out. The analyst reiterates an Overweight rating and $160 price target on Alnylam shares.
10/03/18
MSCO
10/03/18
NO CHANGE
Target $45
MSCO
Equal Weight
Ionis most likely gets Tegsedi approval with black box, says Morgan Stanley
Morgan Stanley analyst David Lebowitz laid out three potential scenarios for the upcoming FDA approval decision about Ionis Pharmaceuticals' Tegsedi, which is scheduled to come on or before October 6. If the FDA were to issue a complete response letter, or CRL, and prevent on-time launch, Lebowitz sees greater than 20% downside for the shares, though he puts the probability of this occurring at 40%. If Tegsedi is approved with a black box safety warning, which he sees as the most likely scenario with odds he pegs at 45%, Lebowitz sees the stock trading up or down about 5%. If Tegsedi is approved with a "clean" label it would lead to a steeper ramp in revenue and Lebowitz sees 20% or more upside to the stock in this scenario, though he puts the odds at just 15%. He maintains an Equal Weight rating on Ionis shares ahead of the PDUFA with a $45 price target.

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KORS

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NVDA

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