Zacks reissued their neutral rating on shares of Isis Pharmaceuticals (NASDAQ:ISIS) in a research report sent to investors on Thursday morning, Stock Ratings News reports. The firm currently has a $33.00 price target on the stock.
Zacks’ analyst wrote, “Isis’ third quarter 2013 net loss of $0.21 per share was narrower than the Zacks Consensus Estimate of a loss of $0.29 and the year-ago loss of $0.33. Despite higher expenses, higher revenues led to the narrower year-over-year loss. Revenues grew 103.3% to $23.6 million, well above the Zacks Consensus Estimate of $18 million. We are positive on Isis’ agreements with Glaxo, Roche, AstraZeneca and Biogen, which not only validate its antisense technology but also provide Isis with funds in the form of upfront, milestone and other payments. We view Kynamro’s Jan 2013 approval in the U.S. as a major milestone for the company. We are also pleased with Isis’ progress with its pipeline. However, we remain concerned about Kynamro’s sales ramp up which could be slow due to the reimbursement process and the process of finding eligible patients. We remain Neutral on the stock and await more visibility on Kynamro’s performance.”
A number of other firms have also recently commented on ISIS. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Isis Pharmaceuticals in a research note to investors on Friday, October 4th. They set a neutral rating and a $37.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Stifel Nicolaus raised their price target on shares of Isis Pharmaceuticals from $38.00 to $45.00 in a research note to investors on Tuesday, September 24th. They now have a buy rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Isis Pharmaceuticals from $27.00 to $32.00 in a research note to investors on Tuesday, September 24th. They now have a hold rating on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $34.55.
Isis Pharmaceuticals (NASDAQ:ISIS) traded up 2.44% during mid-day trading on Thursday, hitting $33.59. The stock had a trading volume of 853,542 shares. Isis Pharmaceuticals has a one year low of $7.87 and a one year high of $39.83. The stock’s 50-day moving average is $34.56 and its 200-day moving average is $28.07. The company’s market cap is $3.872 billion.
Isis Pharmaceuticals (NASDAQ:ISIS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.06. The company had revenue of $23.60 million for the quarter, compared to the consensus estimate of $19.82 million. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was up 103.4% on a year-over-year basis. Analysts expect that Isis Pharmaceuticals will post $-0.53 EPS for the current fiscal year.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.