Correction - Canaccord Genuity maintains a 'Hold' on ISIS Pharmaceuticals (ISIS)
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Price: $20.64 +1.23%
Rating Summary:
4 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
4 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade ISIS Now!
Correction - Canaccord Genuity maintains a 'Hold' on ISIS Pharmaceuticals (NASDAQ: ISIS) price target of $9.00.
Analyst, Salveen Richter, said, "ISIS reported a Q1 top- and bottom-line beat and provided a detailed update on the pipeline. The focus remains on Kynamro ahead of a CHMP opinion on E.U. approval (HoFH and severe HeFH) expected in mid-’12. In addition, given a 10-month standard review (Jan 29, 2013 PDUFA), we expect a likely FDA panel in late-Q3/early Q4 (shared with AEGR’s lomitapide). Management stated that a pre-approval inspection of the manufacturing facility for E.U. approval went well. We continue to be encouraged by ISIS' vast and diverse pipeline – APOCIII (high triglycerides) entered P2, TTR (TTR amyloidosis, partnered with GSK) is slated to enter a P2/3 in H2/12, FXI (clotting in total knee replacement) and SMN (spinal muscular atrophy, partnered with BIIB) are expected to advance into P2 studies in H2/12 and YE12, respectively – as well as by the company's ability to attract lucrative partnerships. However, we recognize that the pipeline is highly leveraged to the regulatory success of Kynamro."
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Analyst, Salveen Richter, said, "ISIS reported a Q1 top- and bottom-line beat and provided a detailed update on the pipeline. The focus remains on Kynamro ahead of a CHMP opinion on E.U. approval (HoFH and severe HeFH) expected in mid-’12. In addition, given a 10-month standard review (Jan 29, 2013 PDUFA), we expect a likely FDA panel in late-Q3/early Q4 (shared with AEGR’s lomitapide). Management stated that a pre-approval inspection of the manufacturing facility for E.U. approval went well. We continue to be encouraged by ISIS' vast and diverse pipeline – APOCIII (high triglycerides) entered P2, TTR (TTR amyloidosis, partnered with GSK) is slated to enter a P2/3 in H2/12, FXI (clotting in total knee replacement) and SMN (spinal muscular atrophy, partnered with BIIB) are expected to advance into P2 studies in H2/12 and YE12, respectively – as well as by the company's ability to attract lucrative partnerships. However, we recognize that the pipeline is highly leveraged to the regulatory success of Kynamro."
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