BofA analyst Jason Gerberry upgraded Ionis Pharmaceuticals to Buy from Neutral with a price target of $62, up from $52. The company has “multiple de-risking catalysts” in 2024 for high revenue drugs, the analyst tells investors in a research note. The firm is bullish on Ionis’ four pipeline programs with validating clinical data, saying each program also represents a meaningful commercial opportunity. The recent Wainua approval in polyneuropathy with a clean label indicates the company’s improved antisense platform can mitigate legacy safety issues, says BofA.
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