Ionis Pharmaceuticals price target lowered to $64 from $65 at Guggenheim

Guggenheim lowered the firm’s price target on Ionis Pharmaceuticals (IONS) to $64 from $65 and keeps a Buy rating on the shares. Q1 marked the transition of the company’s out-licensing centric business model to launching wholly-owned medicines and given the “dood early launch for Tryngolza,” and breadth of the initial demand, the firm’s view remains above consensus for FY25, the analyst tells investors.