12 Best Healthcare Stocks to Buy According to Analysts

2) Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Number of Hedge Fund Holders: 44

Average Upside Potential: 85.4%

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) discovers and develops RNA-targeted therapeutics in the United States. David Lebowitz, an analyst from Citi, gave a “Buy” rating on the company’s shares, while the associated price target remains the same at $67.00. The rating stems from a combination of factors related to Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s promising pipeline and upcoming catalysts. It has recently rolled out its first independently developed drug, TRYNGOLZA, after FDA approval, demonstrating a significant shift from its previous partnership model. The move demonstrates Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s capability to commercialize its own products, which is anticipated to continue with the expected approval of donidalorsen in 2025.

To provide a brief context, TRYNGOLZA is the first-ever FDA-approved treatment that significantly and substantially reduces triglyceride levels in adults with FCS and offers clinically meaningful reduction in AP events when used with an appropriate diet (≤20 grams of fat per day). Furthermore, the analyst opines that the upcoming trials and data releases for candidates like pelacarsen, anticipated to enter a potentially large Lp(a) market, strengthen Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s growth prospects.

The company executed an equity offering, extending Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s cash runway, and enabling it to continue to invest in the numerous attractive opportunities. In September 2024, the company issued 11.5 million shares of its common stock, generating gross proceeds of $500 million. It plans to continue deploying its capital resources toward growth opportunities and expects to end 2024 with $2.2 billion in cash, cash equivalents, and short-term investments.