Ionis Pharmaceuticals (IONS) PT Raised to $68 at BMO Capital

BMO Capital analyst Do Kim reiterated an Outperform rating and rasied his price target on Ionis Pharmaceuticals (NASDAQ: IONS) to $68.00 (from $61.00) as the firm's Spinraza estimates increase to reflect a faster ramp based on the broad approval and a higher price point announced by Biogen.

Kim notes the gross annual cost of $750K for a new patient and $375K for maintenance exceeds our prior assumption of $300K.

"We maintain our Outperform rating and view additional data readouts in 1H 2017 as potential catalysts that will continue to drive shares," Kim said.

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 $55.12 yesterday.

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