Ionis surges after Cowen upgrade

 

• Ionis Pharmaceuticals (NASDAQ:IONS) jumps +7.1% as Cowen raises the recommendation to outperform from 'market perform' and names the stock 'a best idea' for 2021.
• Citing the programs on hereditary angioedema, acromegaly and treatment-resistant hypertension of the RNA-focused drug developer, the analyst Yaron Werber writes, “the company’s internal pipeline is overlooked and has multiple key catalysts expected in 2021,”
• At the recently-concluded investor day, the company said it was on track for as many as six new product launches through 2026, expecting double-digit revenue growth and substantial earnings growth.
• Yet, the company has lost nearly a quarter of value over the past 12-months, compared to more than a quarter of gain in the iShares Nasdaq Biotechnology ETF.
• https://seekingalpha.com/news/3644612-ionis-surges-after-cowen-upgrade