Why Ionis Stock Hit A Six-Year High And Snagged A Price-Target Hike

Core Insights - Ionis Pharmaceuticals (IONS) has guided for peak sales exceeding $5 billion for its current programs, with $2 billion expected from partnered drugs and $3 billion from unpartnered programs [1][2] - The unpartnered revenue is significantly reliant on the success of olezarsen for lowering high triglycerides and IONS582 for Angelman syndrome, a rare genetic disorder [2] - The company's stock has seen a price-target increase from Needham analyst Joseph Stringer, who raised it to $78 from $70, aligning with Ionis' sales forecast [2][3] Stock Performance - Ionis stock rose over 2% in premarket trading, reaching $70.43, marking its highest point since August 2019 [4] - The stock holds a strong IBD Digital Relative Strength Rating of 95, indicating it is in the top 5% of all stocks based on 12-month performance [4] Revenue Estimates - The peak royalty revenue estimates are based on peak revenue estimates disclosed by partner companies, suggesting potential upside if partners revise their estimates upward [3]