Ionis Pharmaceuticals (IONS) PT Raised to $77 at Jefferies

Jefferies analyst Akash Tewari raised the price target on Ionis Pharmaceuticals (NASDAQ: IONS) to $77.00 (from $75.00) while maintaining a Buy rating.

The analyst comments "IONS released Angelman data this AM - overall we thought the data (albeit early) looks ok/encouraging: 1) IONS582's efficacy looks directionally in line w/ RARE's, 2) IONS's trial reported no cases of lower limb weakness, 3) IONS will likely go for broad population (wide age range + deletion and mutation pts) in Ph.3 although design is TBD. We're incr. our '582 PS in Angelman ($337M -> $730M, POS 45%). We continue to like IONS's setup heading into ESC."

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