Movement Alert｜Ionis Pharmaceuticals falls 8.39% in Regular Trading, target cuts and reduced Tryngolza outlook continue to weigh

Market Focus11-11 00:13

On November 11, Ionis Pharmaceuticals falls 8.39% in Regular Trading, trading at $28.42 per share, with turnover of $53.42 million.

The move appears tied to continuing fallout from the company’s recent quarterly update and a fresh wave of analyst target cuts. Ionis reported third-quarter revenue of $243 million, up from $157 million a year earlier and above expectations, while loss per share narrowed to $0.66 from $0.80 and beat consensus loss estimates. However, the company maintained full-year revenue guidance at $875 million to $900 million, below the $922.2 million consensus, and separately cut its Tryngolza sales forecast to $50 million from a prior $100 million to $110 million range, reinforcing concerns about launch traction.

Analyst reactions added pressure, with RBC cutting its price target to $60 from $85 while keeping an Outperform rating, Goldman Sachs lowering its target to $41 from $58, and Needham reducing its target to $54 from $86. Those revisions suggest a sharper reset in valuation expectations even as several firms maintained positive ratings.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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