1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
We're maintaining our $66 per share fair value estimate for Ionis following solid fourth-quarter 2020 results that slightly beat our expectations on a non-GAAP basis, but 2021 guidance that reflects lower R&D revenue and higher R&D costs than we had anticipated, as Ionis aggressively invests in its diverse and advancing pipeline that is increasingly wholly-owned.
Ionis Pharmaceuticals is the leading developer of antisense technology to discover and develop novel drugs. Ionis' broad clinical and preclinical pipeline targets a wide variety of diseases, with an emphasis on cardiovascular, metabolic, neurological, and rare diseases. Ionis and partner Biogen brought Spinraza to market in 2016 as a treatment for a rare neuromuscular disorder, spinal muscular atrophy. Ionis subsequently brought two additional drugs to market via its cardiovascular-focused subsidiary Akcea, including ATTR amyloidosis drug Tegsedi (2018) and cardiology drug Waylivra (Europe, 2019).
