On July 9, 2026, an analyst from Jefferies set a new price target for Ionis Pharmaceuticals (NASDAQ: IONS) at $90.00. At the time, the stock was trading at $64.49. This new target suggests a potential upside of 39.56% for investors, showing strong confidence from the analyst firm in the company's future performance.
Ionis Pharmaceuticals is a biotechnology company that specializes in discovering and developing RNA-targeted therapeutics. This analyst rating comes as Ionis Pharmaceuticals and its partner AstraZeneca announced a significant setback. Their late-stage trial for the drug Wainua, also known as eplontersen, failed to meet its main goal, as highlighted by Reuters.
The drug was being tested for a heart condition called transthyretin-mediated amyloid cardiomyopathy (ATTR-CM). The Phase 3 study did not show a significant reduction in cardiovascular deaths or events compared to a placebo. A majority of participants were already receiving another form of treatment for the condition, as highlighted by Benzinga.
The trial failure had an immediate impact on the market. As highlighted by Barron's, shares of Ionis Pharmaceuticals and AstraZeneca fell, while competitor Alnylam's stock increased. Ionis Pharmaceuticals stock dropped by 23.31%, or $19.69, to a trading price of $64.77, showing a strong negative reaction from investors.
The stock's price has moved between $64.10 and $70.35 during the day's trading. Over the past 52 weeks, it has ranged from a low of $40.03 to a high of $86.74. The company currently has a market capitalization of around $10.7 billion, with a high trading volume of 15.2 million shares.
