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Ionis (IONS) Stock Up on Positive Type II Diabetes Drug Data
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Shares of Ionis Pharmaceuticals, Inc. (IONS - Free Report) were up 4.2% after the company announced encouraging data from a phase II study on IONIS-GCGR for the treatment type II diabetes.
Ionis’ share price movement in 2016 shows that the company has outperformed the Zacks classified Medical Drugs industry. Specifically, the stock lost 16% during this period, compared to the industry’s plunge of 20.2%.
IONIS-GCGRrx, a next-generation antisense drug, is designed to reduce the production glucagon receptor (GCGR).
Results from the study revealed that IONIS-GCGRrx demonstrated statistically significant improvements in hemoglobin A1c (HbA1c) and other measures of glucose control at 26 weeks. Patients receiving a once weekly dose of IONIS-GCGRrx (50 mg and 75 mg) achieved reductions from baseline in HbA1c of 0.7% and 1.4%, respectively, compared to placebo (0.1%).
Moreover, patients dosed with 50mg of the candidate showed robust HbA1c reductions without the unwanted side effects of liver enzyme elevations, increases in low-density lipoprotein (LDL)-cholesterol or blood pressure, thereby meeting the primary goal of the study.
Note that the diabetes space is highly crowded with drugs like Tradjenta, Victoza, Tresiba and Jardiance among others.
Meanwhile, Ionis is actively using its proprietary antisense technology to create a large pipeline of first-in-class or best-in-class drugs, with over a dozen drugs in mid- to late-stage development. Drugs currently in phase III development include volanesorsen (chylomicronemia syndrome or familial partial lipodystrophy) and IONIS-TTRRx (transthyretin/TTR amyloidosis).
Last month, the company’s spinal muscular atrophy’s drug, Spinraza, was approved in the U.S. under priority review. The company has a collaboration agreement with Biogen Inc. (BIIB - Free Report) for Spinraza.
Going forward, we expect investors to remain focused on further updates on the company’s pipeline candidates and an initial update on Spinraza.
Cambrex’s earnings estimates increased 3.7% for 2016 and 5.2% for 2017 in the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters, with an average beat of 19.78%. Its share price was up 23.5% in the past one year.
Arbutus’ loss estimates narrowed from $2.15 to $1.71 for 2016 and from $1.53 to $1.52 for 2017 in the last 60 days. The company posted a positive surprise thrice in the four trailing quarters with an average beat of 59.31%.
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Ionis (IONS) Stock Up on Positive Type II Diabetes Drug Data
Shares of Ionis Pharmaceuticals, Inc. (IONS - Free Report) were up 4.2% after the company announced encouraging data from a phase II study on IONIS-GCGR for the treatment type II diabetes.
Ionis’ share price movement in 2016 shows that the company has outperformed the Zacks classified Medical Drugs industry. Specifically, the stock lost 16% during this period, compared to the industry’s plunge of 20.2%.
IONIS-GCGRrx, a next-generation antisense drug, is designed to reduce the production glucagon receptor (GCGR).
Results from the study revealed that IONIS-GCGRrx demonstrated statistically significant improvements in hemoglobin A1c (HbA1c) and other measures of glucose control at 26 weeks. Patients receiving a once weekly dose of IONIS-GCGRrx (50 mg and 75 mg) achieved reductions from baseline in HbA1c of 0.7% and 1.4%, respectively, compared to placebo (0.1%).
Moreover, patients dosed with 50mg of the candidate showed robust HbA1c reductions without the unwanted side effects of liver enzyme elevations, increases in low-density lipoprotein (LDL)-cholesterol or blood pressure, thereby meeting the primary goal of the study.
Note that the diabetes space is highly crowded with drugs like Tradjenta, Victoza, Tresiba and Jardiance among others.
Meanwhile, Ionis is actively using its proprietary antisense technology to create a large pipeline of first-in-class or best-in-class drugs, with over a dozen drugs in mid- to late-stage development. Drugs currently in phase III development include volanesorsen (chylomicronemia syndrome or familial partial lipodystrophy) and IONIS-TTRRx (transthyretin/TTR amyloidosis).
Last month, the company’s spinal muscular atrophy’s drug, Spinraza, was approved in the U.S. under priority review. The company has a collaboration agreement with Biogen Inc. (BIIB - Free Report) for Spinraza.
Going forward, we expect investors to remain focused on further updates on the company’s pipeline candidates and an initial update on Spinraza.
Ionis currently carries a Zacks Rank #3 (Hold).
IONIS PHARMACT Price and Consensus
IONIS PHARMACT Price and Consensus | IONIS PHARMACT Quote
Key Picks in the Sector
A couple of better-ranked stocks in the health care sector are Cambrex Corporation and Arbutus Biopharma Corporation (ABUS - Free Report) . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cambrex’s earnings estimates increased 3.7% for 2016 and 5.2% for 2017 in the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters, with an average beat of 19.78%. Its share price was up 23.5% in the past one year.
Arbutus’ loss estimates narrowed from $2.15 to $1.71 for 2016 and from $1.53 to $1.52 for 2017 in the last 60 days. The company posted a positive surprise thrice in the four trailing quarters with an average beat of 59.31%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>