, an analyst from BTIG, has initiated a new Buy rating on Sionna Therapeutics, Inc. (SION).
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BTIG has given his Buy rating due to a combination of factors that highlight Sionna Therapeutics, Inc.’s potential in the cystic fibrosis market. The company is at the forefront of developing innovative therapies targeting the NBD1 domain of the CFTR protein, a critical area affected by the common ∆F508 mutation in cystic fibrosis patients. This novel approach aims to fully restore CFTR function, addressing a significant unmet need in the treatment landscape.
Sionna’s preclinical studies have demonstrated promising results, showing that their NBD1 stabilizers can restore CFTR function and improve thermal stability. With the potential to capture a substantial share of the over $11 billion cystic fibrosis market, BTIG projects peak sales of $3.8 billion for Sionna’s key assets, SION-719 and SION-415. The company’s valuation, supported by a blend of discounted cash flow and peak multiple methods, further justifies the Buy rating with a price target of $50.
In another report released on November 16, JonesTrading also reiterated a Buy rating on the stock with a $52.00 price target.