Needham Reiterates Buy on ISIS (ISIS) Following Narrow FDA Vote for Approval of Kynamro
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Price: $57.56 --0%
Rating Summary:
7 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 3
Rating Summary:
7 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 3
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Yesterday an FDA Advisory panel voted 9-6 in favor of approval of Kynamro.
Analyst Chad Messer said "We believe last minute carcinogenicity concerns raised by the FDA were less of an issue for the panel than we originally thought. That said, we believe Kynamro lost at least 2 votes due to concerns over the longer term strategy to seek approval for hypercholesterolemia indications outside of HoFH."
Beyond Kynamro, Messar notes that ISIS also has programs addressing orphan diseases transthyretin-related familial amyloidotic polyneuropathy (FAP) and spinal muscle atrophy on which it stands to receive double digit royalties.
Needham & Company has a Buy rating on ISIS Pharmaceuticals (NASDAQ: ISIS) and a price target of $14.00.
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 $9.62 yesterday.
Analyst Chad Messer said "We believe last minute carcinogenicity concerns raised by the FDA were less of an issue for the panel than we originally thought. That said, we believe Kynamro lost at least 2 votes due to concerns over the longer term strategy to seek approval for hypercholesterolemia indications outside of HoFH."
Beyond Kynamro, Messar notes that ISIS also has programs addressing orphan diseases transthyretin-related familial amyloidotic polyneuropathy (FAP) and spinal muscle atrophy on which it stands to receive double digit royalties.
Needham & Company has a Buy rating on ISIS Pharmaceuticals (NASDAQ: ISIS) and a price target of $14.00.
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 $9.62 yesterday.
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