Isis Pharma (ISIS) Price Target Raised to $65 at Laidlaw

Laidlaw reiterated a Buy rating on ISIS Pharmaceuticals (NASDAQ: ISIS) and raised its price target to $65 (from $60). Yesterday ISIS presented final results of its ISIS-FXI in TKA at ASH.

Analyst Yale Jen said, "Although ISIS has reported ISIS-FXIRx Phase II study top-line results in 2Q14, today’s report affords greater visibility of the study details and the potential for the drug. In addition to robust anti-thrombotic effect, we view the long t1/2 of the drug (~ two weeks) as encouraging and could be very beneficial clinically as treatment in properly selected indications."

"We reiterate our Buy rating and increase our target price to $65 from $60 to reflect our bullish view on the progress in ISIS’s pipeline, especially increased maturation of the cardiovascular and diabetic franchises, along with the three leading Phase III products. Our valuation is based on our DCF and probability adjusted-NPV-driven, sum-of-the-parts analyses," he added.

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 closed at $52.76 yesterday.

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