Investors Dumped Ionis Pharmaceuticals Stock -- But Wall Street Hasn't Budged From Its Bullish Outlook

Ionis Pharmaceuticals stock has plummeted over 40% this year due to late-stage clinical trial failures and ongoing losses, yet Wall Street analysts maintain a bullish outlook with an average price target of $83.82. Despite setbacks with pelacarsen and eplontersen programs, the company's strong ASO technology platform, solid $2.1 billion cash position, and recent FDA approval of Zanvastro for Alexander disease provide potential for long-term investors willing to wait several years for profitability.