H.C. Wainwright initiates coverage for Ionis  Pharma with 'buy' rating citing pending drug launches

Brokerage H.C. Wainwright starts coverage on drugmaker Ionis Pharmaceuticals IONS.O with "buy" rating and a PT of $45

Brokerage sees upside in IONS' pending commercial launches, including Tryngolza for lowering triglycerides and Wainua for transthyretin-mediated amyloidosis (ATTR)

Brokerage estimates that Tryngolza could serve 2.3 million patients in the U.S. and become a growth driver for the company, potentially generating $1.8 billion in sales by 2033

17 out of 26 brokerages rate the stock "buy" or higher, 8 rate "hold" and 1 rate "sell" and their median PT is $60 as per LSEG data

As of last close, IONS stock down 22.5% YTD