Needham names Ionis a top 2019 pick, boosts target to $82

Needham analyst Chad Messer raised his price target for Ionis Pharmaceuticals to $82 from $67 and named the stock a top pick for 2019. Unlike most other biotech companies, Ionis has been executing on a “perennial innovative pipeline while generating sustainable and growing profits,” Messer tells investors in a research note. The company has already produced one blockbuster drug with Spinraza and is in the midst of launching a second potential blockbuster Tegsedim, says the analyst. Further, he points out that four additional programs of the company will reach pivotal trials in 2019. Messer keeps a Buy rating on Ionis Pharmaceuticals.
https://thefly.com/landingPageNews.php?id=2837927