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

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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

Sep 2015BarclaysInitiates Coverage onEqual-weight
Jun 2015NeedhamReiteratesBuy
Jun 2015JP MorganMaintainsNeutral

View More Analyst Ratings for ISIS
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