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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

DateFirmActionFromTo
Jan 2015Deutsche BankMaintainsBuy
Dec 2014JP MorganMaintainsNeutral
Dec 2014Stifel NicolausMaintainsBuy

View More Analyst Ratings for ISIS
View the Latest Analyst Ratings

Posted-In: Analyst Color News FDA Analyst Ratings

 

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