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Needham & Company Boosts ISIS Pharmaceuticals (ISIS) PT to $29

June 24, 2013 11:40 AM EDT Send to a Friend
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Price: $34.57 +4.79%

Rating Summary:
    4 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 34 | Down: 12 | New: 36
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Needham & Company analyst Chad Messer reiterated a Buy rating and raised his price target on ISIS Pharmaceuticals (NASDAQ: ISIS) from $26 to $29 following "impressive" ISIS-APOCIIIRx data which de-risks the key program.

Messer comments, "Over the weekend, ISIS presented data from the first of 3 Phase II studies of ISIS-APOCIIIRx. As previously observed in healthy volunteers, ISIS-APOCIIIRx treatment resulted in impressive reductions in APOCIII and triglycerides as well as other beneficial lipid changes. Importantly, in the current study ISIS-APOCIIIRx improved measures of glucose control and insulin sensitivity in a diabetic population. ISIS will initiate a pivotal study next year in patients with very elevated triglycerides and intends to complete the study before seeking a partner."

The analyst believes ISIS-APOCIIIRx is potentially one of the largest of many drivers for ISIS shares.

For an analyst ratings summary and ratings history on ISIS Pharmaceuticals click here. For more ratings news on ISIS Pharmaceuticals click here.

Shares of ISIS Pharmaceuticals are up 20.4% Monday to $26.47.




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