Multiple Shots on Goal in Cystic Fibrosis: Sionna’s NBD1-Targeted Pipeline and 2026 Clinical Readouts Drive Buy Thesis and $58 DCF-Based Target

Analyst Kambiz Yazdi from BTIG maintained a Buy rating on Sionna Therapeutics, Inc. and keeping the price target at $58.00.

Kambiz Yazdi has given his Buy rating due to a combination of factors tied to Sionna’s lead asset SION-719 and its broader cystic fibrosis franchise. He expects SION-719 to meet key efficacy and safety benchmarks in the upcoming Phase 2a PrecSION CF trial, based on strong preclinical data showing improvement in CFTR function across multiple assays and Phase 1 pharmacokinetics indicating high drug exposure at relatively low doses with a clean safety profile. He highlights that the company is aiming for at least a 10 mmol/L reduction in sweat chloride in F508del homozygous patients, a change he views as clearly clinically relevant given its established relationship with better lung function and survival outcomes. The novel NBD1-targeting mechanism, which is designed to stabilize the domain of CFTR directly impaired by the F508del mutation, further supports his conviction that Sionna could achieve more complete restoration of CFTR activity than current standards of care.
Kambiz Yazdi also emphasizes the importance of the mid-2026 Phase 2a readout as a transformative event for the stock, given the rigorous design of the randomized, double-blind, placebo-controlled crossover study in a carefully selected, stable Trikafta-treated patient population. In parallel, he notes that SION-415, a dual-combination regimen intended as a standalone therapy, is progressing with a Phase 1 readout also expected in mid-2026, after which a lead combo will be chosen and dose-ranging Phase 2b studies are planned. Together, the add-on SION-719 program and the SION-415 standalone regimen create multiple, complementary paths to value creation in cystic fibrosis. His $58 price target, derived primarily from a detailed discounted cash flow analysis supplemented by a peak sales multiple, underpins his Buy recommendation by indicating substantial upside from current levels if the clinical milestones are achieved.