H.C. Wainwright raised the firm’s price target on Ionis Pharmaceuticals (IONS) to $70 from $65 and keeps a Buy rating on the shares following FDA approval of Dawnzera. The firm believes the drug is positioned to take “meaningful” share from Takeda’s (TAK) Takhzyro in a “switch-driven” hereditary angioedema market given its advantage in dosing frequency. H.C. Wainwright projects $770M in peak sales for Dawnzera.
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