Ionis Pharma (IONS): Reiterating Buy After R&D Day - Needham

Needham & Company analyst, Chad Messer, reiterated his Buy rating on Ionis Pharmaceuticals (NASDAQ: IONS) after the company recently discussed the cases of serious platelet declines and highlighted its 3 lead programs at a recent R&D Day in NYC. While most of what was discussed was already known, the company did present some natural history data for TTR and FCS patients showing that platelet reductions are common in these diseases. Perhaps the most informative part of the day was a presentation from nusinersen investigator Dr. DeVivo who shared videos of several patients from the Phase II study. There was also new positive Phase II data from the GCGR and ANGPTL3 programs and a discussion of potential future advances in antisense technology. The analyst left the event incrementally more positive on the 4 1H:17 Phase III readouts, especially for nusinersen, and incrementally more reassured about the platelet issue.

No change to the price target of $55.

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 $24.68 yesterday.

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