Ionis Pharma (IONS) Hits New High Anew as Analyst Sees Blockbuster Potential for Olezarsen

We recently published 10 Power Stocks Crushing Wall Street — 7 at All-Time Highs. Ionis Pharmaceuticals Inc. (NASDAQ:IONS) is one of the best performers on Wednesday.

Ionis Pharmaceuticals extended its winning streak to a third straight day on Wednesday to touch a new all-time high, following an investment firm’s bullish rating and higher price target for its stock.

At intra-day trading, the stock soared to a new high of $62.08 before trimming gains to end the day just up by 5.22 percent to $60.49 apiece.

In a market note following the release of its clinical studies for Olezarsen, BMO Capital raised its price target for Ionis Pharmaceuticals Inc. (NASDAQ:IONS) to $70 from $40 previously, while upgrading its stock to “outperform” from “market perform,” on optimism that its drug candidate, Olezarsen, would become a blockbuster potential.

“Olezarsen’s statistically significant effect on AP positions IONS for a blockbuster [second half of 2026] launch in sHTG. We expect Olezarsen’s strong AP benefit to unlock ~$1.5B in peak risk-unadjusted Olezarsen US sHTG sales,” it said.

On Tuesday, Ionis Pharmaceuticals Inc. (NASDAQ:IONS) announced promising results from the clinical trials of Olezarsen, saying that it successfully lowered blood fat by up to 72 percent, as well as pancreas attacks by 85 percent, compared with the placebo group.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) enrolled a total of 1,100 patients in the studies, marking the largest pivotal program for sHTG.

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Disclosure: None. This article is originally published at Insider Monkey.