Morningstar - Ionis Pharmaceuticals Inc. (IONS) Reiterating Our $47 FVE for Ionis in Light of 1Q Spinraza Results From Biogen; Shares Fairly Valued

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Morningstar

Kelsey Tsai

EUR 100.00 For Business Accounts Only

Reiterating Our $47 FVE for Ionis in Light of 1Q Spinraza Results From Biogen; Shares Fairly Valued

We are reiterating our $47 per share fair value estimate for Ionis after Biogen reported first-quarter sales results for Spinraza. Ionis stock fell over 10% on the news, but remains fairly valued in 3-star territory, according to our valuation. As we noted in our Biogen earnings note, Spinrazaâ€™s sequential decline in the U.S. can be attributed to more patients moving to less-frequent maintenance dosing and fewer new patients, and weâ€™re not making any changes to our sales estimates for the drug, ...

24/04/2018 13 EN

Underlying

Ionis Pharmaceuticals Inc.

Ionis Pharmaceuticals is engaged in discovering and developing RNA-targeted therapeutics. The company has two commercial medicines, SPINRAZA and TEGSEDI. SPINRAZA (nusinersen) injection for intrathecal use is a survival motor neuron-2, directed antisense oligonucleotide indicated for the treatment of spinal muscular atrophy in pediatric and adult patients. TEGSEDI (inotersen) injection is a Generation 2+ antisense medicine and an approved subcutaneous RNA-targeting medicine designed to treat people with polyneuropathy caused by hereditary transthyretin amyloidosis.

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US4622221004 NASDAQ Stock Market United States

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Kelsey Tsai

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Reiterating Our $47 FVE for Ionis in Light of 1Q Spinraza Results From Biogen; Shares Fairly Valued

Ionis Pharmaceuticals Inc: 1 director

Vermilion Booster Shots: Attractive bottom-fishing stocks

Vermilion Compass: Weekly Equity Strategy

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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