Morgan Stanley raised the firm’s price target on Ionis Pharmaceuticals (IONS) to $90 from $86 and keeps an Overweight rating on the shares. The firm’s estimates are “modestly above consensus” for Tryngolza in Familial Chylomicronemia Syndrome, which it notes is “a small opportunity,” but one it sees setting the stage for “meaningful label expansion” in severe hypertriglyceridemia.
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