Ionis Pharma (IONS): Data Confirms Positive Outlook - BMO Capital

BMO Capital analyst, Do Kim, reiterated his Outperform rating on shares of Ionis Pharmaceuticals (NASDAQ: IONS) following positive updates from the COMPASS (volanesorsen), GCGR-Rx, and FXI-Rx studies.

DMPK-2.5 failed to show sufficient effect in its Phase I/II trial, but the analyst believes Ionis has an abundance of optionality in its early to mid-stage pipeline, all of which is upside to consensus estimates.

Volanesorsen showed a significant reduction of pancreatitis in the COMPASS study, which should translate to meaningful benefit for FCS patients in the APPROACH study with data to be released in 1Q17 and approval likely in 2018.

No change to the price target of $68.

For an analyst ratings summary and ratings history on Ionis Pharmaceuticals click here. For more ratings news on Ionis Pharmaceuticals click here.

Shares of Ionis Pharmaceuticals closed at $47.09 yesterday.

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