Morgan Stanley raised the firm’s price target on Ionis Pharmaceuticals (IONS) to $130 from $95 and keeps an Overweight rating on the shares. The firm believes the market opportunity for RNA therapeutics in severe hypertriglyceridemia “remains underappreciated despite groundbreaking data and a high unmet need.” Morgan Stanley increased its peak U.S. sales estimates for severe hypertriglyceridemia to $9.0B versus the $4.3B consensus. The firm upped its peak sales estimates for Ionis’ Tryngolza to $4.7B from $1.9B.
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