Market Overview

Needham Says Buy the Dip in Isis Pharma, Didn't See Favorable Chance CRP Would Be Indicated for RA

Share:
Related ISIS
Piper Jaffray Makes 15 'Provocative' Predictions For Biopharma Sector In 2016
Benzinga's Top Initiations

Shares of Isis Pharma (NASDAQ: ISIS) have fallen nearly 3 percent Monday as the company announced it has halted development of its rheumatoid arthritis product as the latest study failed to demonstrate a benefit.

Needham analyst Chad Messer issued a research note earlier suggesting investors should use the dip in price to load up on shares. Messer pointed out he didn't consider the RA drug as a "serious consideration" for the company's ISIS-CRP. He believes the next catalyst for APOCIII monotherapy trial is later in August.

Needham maintains a Buy rating and $36 price target on shares of Isis Pharma.

Latest Ratings for ISIS

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

View More Analyst Ratings for ISIS
View the Latest Analyst Ratings

Posted-In: Analyst Color News FDA Analyst Ratings

 

Related Articles (ISIS)

View Comments and Join the Discussion!