Piper Jaffray Maintains Overweight Rating For ISIS

By Benzinga Staff
May 20, 2010 9:20 AM

Symbols: ISIS

Posted in: Analyst Color, Analyst Ratings

ISIS Pharmaceuticals (Nasdaq: ISIS) hosted a conference call yesterday updating its development progress on oncology drugs OGX-011, LY218308, ISIS-eIF-4E and OGX-427.

Piper Jaffray says recent studies on these drugs validate previous antisense drug success in fighting cancer. ISIS reported that OGX-011 + docetaxel showed median overall survival in patients with advanced metastatic prostate cancer of 23.8 months vs. 16.9 months
on docetaxel alone.

This news lead Piper Jaffray to maintain it's Overweight Rating for ISIS and $13 price target, but noted contingencies including FDA approval among others.

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