Ionis (IONS) Price Target Hiked Following Positive Zilganersen Trial Results

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) ranks among the best biotech stocks to buy. On September 24, Leerink Partners maintained its Outperform rating on Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) and raised its price target from $63 to $68. The boost comes after topline results for Ionis’ Alexander disease therapy, zilganersen.

Using the 10-meter walk test (10MWT), Leerink observed that Zilganersen showed a statistically significant improvement in stabilizing gait speed and steady gains across key secondary endpoints. The company’s valuation methodology for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) now includes a market model for Alexander disease.

While open-label extension data, though still years away, will offer more information about the treatment’s effect on life expectancy and disease progression, detailed results from the Zilganersen trial are anticipated at an upcoming medical conference.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) produces medications for serious medical conditions, with a specific emphasis on cardiovascular and neurological disorders.

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