Ionis Pharmaceuticals price target raised to $80 from $78 at Barclays

Barclays raised the firm’s price target on Ionis Pharmaceuticals (IONS) to $80 from $78 and keeps an Overweight rating on the shares. The company announced positive Phase 3 results in Alexander disease, creating a high probability of FDA approval, the analyst tells investors in a research note. The firm says that while the indication is ultra-rare, Ionis has limited additional launch investment with modest earnings contribution in near future from the approval.