Market Overview

UPDATE: Piper Jaffray Raises PT to $11 on ISIS Pharmaceuticals on KYNAMRO Approval

Share:
Related ISIS
Isis Pharma 8-K Filing Shows Company Enters Agreement with Astrazeneca To Discover And Develop Antisense Drugs FOr Cardiovascular, Metabolic And Renal Disease
AstraZeneca, Isis Pharmaceuticals to Collaborate to Develop Antisense Drugs for Cardiovascular, Metabolic and Renal Diseases

Piper Jaffray maintained ISIS Pharmaceuticals, Inc. (NASDAQ: ISIS) with a Neutral rating and raised the price target from $9.00 to $11.00.

Piper Jaffray said, "The FDA approved KYNAMRO for Homozygous Familial Hypercholesterolemia (HoFH). As expected, the approval comes with a Boxed Warning for liver toxicity and a REMS program. ISIS is required to conduct 4 post marketing studies. This approval comes in the wake of the recent negative CHMP opinion for KYNAMRO's marketing authorization application (MAA) and therefore serves as an important validation of ISIS's antisense technology. We maintain our Neutral rating and are increasing our price target to $11 from $9 due to a reduced discount rate following KYNAMRO approval."

ISIS Pharmaceuticals closed at $13.38 on Tuesday.

Latest Ratings for ISIS

DateFirmActionFromTo
Jun 2015NeedhamReiteratesBuy
Jun 2015JP MorganMaintainsNeutral
Mar 2015Deutsche BankMaintainsBuy

View More Analyst Ratings for ISIS
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

Related Articles (ISIS)

View Comments and Join the Discussion!

Get Benzinga's Newsletters