Stifel analyst Paul Matteis raised the firm’s price target on Sionna Therapeutics (SION) to $55 from $44 and keeps a Buy rating on the shares. After a deep dive Into NBD1, the firm has come away with “increased optimism” that the Phase 2a trial will be positive, the analyst tells investors. The firm believes a strong sweat chloride signal for SION-719 would hold positive readthroughs to SION-451, the analyst added.
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