Sionna Therapeutics initiated with an Outperform at Citizens

Citizens initiated coverage of Sionna Therapeutics (SION) with an Outperform rating and $63 price target Sionna is developing “differentiated,” small molecule therapies that could normalize CFTR function in cystic fibrosis patients, the analyst tells investors in a research note. The firm believes Sionna’s “differentiated approach should yield differentiated results.” It says key data readouts are coming this year.