BWS Financial Comments Positively on Isis Pharmaceuticals (ISIS); Maintains Buy
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BWS Financial believes recent weakness in the stock price of Isis Pharmaceuticals (NASDAQ: ISIS) presents a buying opportunity. BWS maintains their Buy rating and $20 price target.
The firm said, "We are projecting ISIS to generate $107.8 million in revenues in 2008 and $112.3 million in 2009. The revenues ISIS generates are from research collaborations. There is the possibility of one-time milestone payments ISIS could receive in 2009, but have been omitted from our earnings model. ISIS has one of the richest pipelines for a biotechnology company of its size. The progress made in trials would translate into further value appreciation. We would recommend buying shares of ISIS at current levels with the prospects of the stock moving to $20 over the next few months."
Isis Pharmaceuticals, a biopharmaceutical company, engages in RNA-based drug discovery and development for its product pipeline and for its partners.
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