Ionis Pharma (IONS): Cutting PT But Improving Fundamentals - BMO

BMO Capital analyst, Do Kim, reiterated his Outperform rating on shares of Ionis Pharmaceuticals (NASDAQ: IONS) but cut his price target to $63 after including the 3% royalty payment to Spinraza patent holders.

That said, he is also raising Spinraza estimates after speaking with Ionis management. New patients are on drug within two weeks of approval, a faster rate than Vertex's Orkambi.

The new PT of $63 is down from $68 but considerably above its current price of $48.

For an analyst ratings summary and ratings history on Ionis Pharmaceuticals click here. For more ratings news on Ionis Pharmaceuticals click here.

Shares of Ionis Pharmaceuticals closed at $48.09 yesterday.

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