ISIS Pharma Shares Jump Higher As Piper Jaffray Sees Co.'s Pipeline As 'Most Attractive and Undervalued' In Sector

Piper Jaffray analyst Joshua Schimmer sent ISIS Pharmaceuticals

shares six percent higher Friday morning with some bullish comments on the company. In the report, Schimmer said he believes ISIS has the “most attractive and undervalued pipeline in biotech.” The analyst argued the undervaluation could be resolved with M&A activity or new management outlook. Schimmer maintains an Overweight rating and $42 price target on shares of ISIS. ISIS shares last traded at $26.43.