ISIS Pharmaceuticals (ISIS) PT Raised to $80 at Needham & Company on Business Strength
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Rating Summary:
7 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 10
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Needham & Company analyst Chad Messer reiterated a Buy rating and boosted his price target on ISIS Pharmaceuticals (NASDAQ: ISIS) to $80.00 (from $61.00) after the company updated 2014 guidance that "implies an extremely strong 4Q:14."
Messer notes in addition to the recent collaboration announcement with Jannsen, the possibilities for additional significant partnerships are numerous.
"While many biotech companies claim to have a platform that can be leveraged broadly across multiple therapeutic areas, we believe very few have been able to demonstrate the level of financial success with this type of business model as ISIS," he commented. "ISIS also recently announced plans to commercialize certain assets on its own through a wholly owned subsidiary, Akcea."
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 $68.59 yesterday.
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