Ionis Pharmaceuticals’ consensus price target edged up to $59.19 as analysts cited favorable FDA approval and label for Dawnzera in hereditary angioedema, strong initial launches, and growing pipeline confidence as key drivers, outweighing modest concerns on Wainua revenues.
Analyst Commentary
- FDA approval of Dawnzera with a favorable, broad label (including both every four and eight week dosing) and absence of major safety warnings, positioning it competitively against Takhzyro and Andembry in hereditary angioedema.
- Bullish analysts see Dawnzera as well-placed to take meaningful share from Takeda's Takhzyro, citing a switch-driven market, compelling product profile, and ongoing unmet need for alternative prophylaxis amongst HAE patients.
- Positive early commercial momentum for both Dawnzera and Tryngolza, with experienced sales teams and preparations for launches in allergy/immunology driving optimism.
- Bullish analysts increase price targets on the basis of increased conviction in Ionis’ pipeline (notably Tryngolza in severe hypertriglyceridemia), citing upcoming Phase 3/6 data and several near-term catalysts.
- Bearish analysts flagged weaker-than-expected Q2 revenues for Wainua from AstraZeneca as a negative, suggesting competitive pressure or slower ramp for Ionis’ assets, but this was outweighed by the string of favorable clinical and regulatory developments.
What's in the News
- FDA approved DAWNZERA (donidalorsen) as the first RNA-targeted medicine for hereditary angioedema (HAE) prophylaxis, with strong efficacy and safety results shown in Phase 3 OASIS-HAE and OASISplus studies.
- Company raised 2025 revenue guidance to $825M–$850M (from prior $725M–$750M) following product and pipeline progress.
- CHMP issued a positive opinion for TRYNGOLZA (olezarsen) for familial chylomicronemia syndrome (FCS); European Commission decision expected by Q4 2025, supported by positive Phase 3 Balance study results.
- Published positive Phase 3 OASISplus data in HAE, showing a 62% further reduction in attack rate for patients switching to donidalorsen from other prophylactic therapies; majority of patients preferred donidalorsen.
- Dosed first participant in global Phase 3 REVEAL study of ION582 for Angelman syndrome, targeting improvement in expressive communication; ION582 has Orphan Drug, Fast Track, and Rare Pediatric designations.
Valuation Changes
Summary of Valuation Changes for Ionis Pharmaceuticals
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from $58.23 to $59.19.
- The Future P/E for Ionis Pharmaceuticals has significantly fallen from 68.57x to 44.55x.
- The Net Profit Margin for Ionis Pharmaceuticals has significantly risen from 14.17% to 18.33%.
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