Ionis Pharmaceuticals cut to In Line at Evercore ISI after volanesorsen review. As reporter earlier, Evercore ISI analyst Josh Schimmer downgraded Ionis Pharmaceuticals to In Line from Outperform and lowered his price target to $46 from $55. The analyst cites the safety concerns around volanesorsen discussed in the latest FDA briefing documents, which also “dismantled the company’s claims” that the treatment leads to benefits in pancreatis. Schimmer says that while he did not assign much value around volanesorsen, he is now removing it from the model until there is more certainty around the drug profile while also increasing the discount rate to reflect additional platform uncertainty.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.