BMO Capital analyst Kostas Biliouris downgraded Ionis Pharmaceuticals to Market Perform from Outperform with a price target of $60, down from $67. The company has advanced too many promising drugs that will “inevitably reduce focus, consume resources, and increase ambiguity around the size/fate of each opportunity,” the analyst tells investors in a research note. Further, the firm says the lack of potential ATTR-CM readout in 2025 and major catalysts in the next six months can limit the upside in the shares.
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