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Ionis downgraded to sell by Goldman

March 10, 2017

Goldman Sachs downgraded Ionis Pharmaceuticals (NASDAQ: IONS) from Neutral to Sell with a price target of $25.00 (from $28.00).

Analyst Salveen Richter comments “IONS is an early pioneer of antisense RNA therapies and while the technology has the potential to address “undruggable” targets in broad therapeutic areas, a lackluster track record of developing successful drugs along with platform toxicity indicates a “show me” story. We question the commercial viability of Ph3 volanesorsen and recognize Ph3 TTR-Rx faces clinical and competitive risk. Next-gen LICA drugs and neurology targets, a focus, are unproven.”

The analyst is also lowering FY 2017/2018/2019 EPS estimates:


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