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UPDATE: Piper Jaffray Downgrades ISIS Pharmaceuticals to Neutral on FDA Briefing

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Piper Jaffray reduced its rating on ISIS Pharmaceuticals (NASDAQ: ISIS) from Overweight to Neutral and reduced its price target from $18 to $10.

Piper Jaffray noted, "The FDA just released the briefing documents for KYNAMRO's Endocrinologic and Metabolic Drugs Advisory Committee meeting this Thursday, October 18th. The surprise in the docs has to do with questions #5 and #6 relating to "malignant fibrohistiocytic tumors" as well as "hemangiosarcomas" and "hepatocellular adenomas/ carcinomas" in mice "at clinically relevant exposures." … This represents a significant change in our view of KYNAMRO's safety profile going into the panel on Thursday and lowers the potential likelihood of a positive panel vote."

ISIS Pharmaceuticals closed at $13.15 on Monday.

Latest Ratings for ISIS

Dec 2015Wells FargoInitiates Coverage onOutperform
Nov 2015Goldman SachsInitiates Coverage onNeutral
Nov 2015BarclaysMaintainsEqual-Weight

View More Analyst Ratings for ISIS
View the Latest Analyst Ratings

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