Piper Jaffray Raises Price Target on ISIS Pharmaceuticals (ISIS) July 18th, 2012 - 0 comments - Filed Under - by Patrick Bannon
ISIS Pharmaceuticals, Inc. logoInvestment analysts at Piper Jaffray lifted their target price on shares of ISIS Pharmaceuticals (NASDAQ: ISIS) from $15.00 to $18.00 in a note issued to investors on Wednesday. The firm currently has an “overweight” rating on the stock.
The analysts wrote, “ISIS is the leading antisense company with a rich pipeline of drugs in development. The primary driver for ISIS shares remains KYNAMRO with European approval this year and a January 29, 2013 PDUFA date. While ISIS shares have risen considerably since May 1st, we look for continued upside driven by KYNAMRO approval, clinical data read-outs and new partnerships. ISIS remains a Top Pick for 2H:12.”
Shares of ISIS Pharmaceuticals traded up 1.67% during mid-day trading on Wednesday, hitting $13.97. ISIS Pharmaceuticals has a 52 week low of $6.25 and a 52 week high of $14.01. The company’s market cap is $1.400 billion.
ISIS Pharmaceuticals last issued its quarterly earnings data on Tuesday, May 8th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.04. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts predict that ISIS Pharmaceuticals will post $-0.79 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ISIS. Analysts at Zacks reiterated a “neutral” rating on shares of ISIS Pharmaceuticals in a research note to investors on Tuesday, July 10th. They now have a $15.00 price target on the stock. Separately, analysts at Needham & Company initiated coverage on shares of ISIS Pharmaceuticals in a research note to investors on Tuesday, May 22nd. They set a “buy” rating and a $14.00 price target on the stock.
Isis Pharmaceuticals, Inc. (Isis) is engaged in antisense technology, exploiting a drug discovery platform created to generate first-in-class drugs.
ANP Price at posting:
19.0¢ Sentiment: ST Buy Disclosure: Held
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