BofA Securities raised its target to $64 with a ‘Buy’ rating, while Stifel lifted its target to $43 with a ‘Hold,’ both citing Dawnzera’s clean label and flexible dosing.
Wall Street analysts boosted their targets on Ionis Pharmaceuticals after the FDA approved its RNA-based drug Dawnzera for hereditary angioedema, sparking a surge in retail chatter.
BofA Securities raised its price target to $64 from $63 while maintaining a ‘Buy’ rating, saying Dawnzera’s approval was on time with a clean label that allows dosing every four or eight weeks and carries no major safety warnings, as per The Fly.
Analyst Jason Gerberry said the firm’s decision to un-risk-adjust Dawnzera forecasts in its model supported the upward revision.
Stifel also lifted its target to $43 from $38 but kept a ‘Hold’ rating, calling the approval “clean” and in line with other HAE labels.
The firm said Ionis management is confident patients will continue switching from existing options due to unmet needs, describing Dawnzera as offering a compelling product profile.
The FDA approval marked a milestone for Ionis, making Dawnzera the first and only RNA-targeted prophylactic treatment for HAE.
The decision was based on results from the Phase 3 OASIS-HAE study, where the drug reduced monthly attack rates by 81% compared to placebo over 24 weeks. Longer-term data showed sustained reductions of more than 90% and strong patient preference in switch studies versus existing prophylactic therapies.
HAE is a rare, potentially life-threatening condition marked by recurrent swelling attacks that affect about 7,000 people in the U.S.
Dawnzera, which targets plasma prekallikrein, will be available in the U.S. in the coming days and can be self-administered via autoinjector once every four or eight weeks.
Ionis CEO Brett Monia said the approval represents a “significant advance” for patients and marks the company’s second independent drug launch in nine months, following the approval of Tryngolza for familial chylomicronemia syndrome.
On Stocktwits, retail sentiment for Ionis was ‘extremely bullish’ amid ‘extremely high’ message volume.
One user said Ionis may not see much more upside from the FDA approval of Dawnzera, noting that “the next earnings will be the real mover” since the approval was already priced in.
Another user compared Ionis to other biotech names, pointing out they had a similar experience with Precigen and Tonix Pharmaceuticals last week. Both received FDA approvals but saw sharply different stock reactions, with Precigen rallying 75% after its trading halt while Tonix fell 15%.
The trader added they were hoping for a good run with Ionis.
Ionis’ stock has risen 23.7% so far in 2025.
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