Sionna Therapeutics price target raised to $63 from $52 at JonesResearch

JonesResearch raised the firm’s price target on Sionna Therapeutics (SION) to $63 from $52 and keeps a Buy rating on the shares after the company completed enrollment in the Phase 2a PreciSION study with data expected this summer. Achievement of additive sweat chloride reduction on SION-719 versus Trikafta alone will establish the potency of NBD1 stabilization but also validate the predictive power of Sionna’s CFHBE assay, boosting confidence in SION-451 combos, the analyst tells investors in a research note.