Citi analyst David Lebowitz lowered the firm’s price target on Ionis Pharmaceuticals (IONS) to $64 from $67 and keeps a Buy rating on the shares. The company reported fiscal 2024 earnings, delivering a solid sales beat, mainly driven by Spinraza royalties and better than expected research and development revenue with due to milestone payments realized, the analyst tells investors in a research note. The firm says Wainua’s launch remains on track in its first year of launch. Citi sees a “catalyst rich” 2025 for Ionis.
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