Ionis Pharmaceuticals price target lowered to $77 from $82 at Wells Fargo

Wells Fargo lowered the firm’s price target on Ionis Pharmaceuticals (IONS) to $77 from $82 and keeps an Overweight rating on the shares. The firm sees WAINUA’s momentum in ATTR-PN as indicative of patient preference in the new-to-therapy segment, and believes it bodes well for future ATTR-CM performance. Wells also notes near-term catalysts in FCS/HAE PDUFA/launch, and sHTG/Lp(a) Phase 3 data.