ISIS Pharmaceuticals (NASDAQ: ISIS)‘s stock had its “neutral” rating restated by Zacks in a report issued on Monday. They currently have a $16.00 target price on the stock.
Zacks‘ analyst wrote, “Isis Pharmaceuticals Inc.’s net loss of $0.21 per share in the fourth quarter of 2012 was a penny wider than the year-ago loss but narrower than the Zacks Consensus Estimate of loss of $0.23 per share. Revenues decreased 38.7% to $19.9 million, beating the Zacks Consensus Estimate of $16 million. We are positive on Isis’ agreements with Glaxo, AstraZeneca and Biogen, which not only validated its antisense technology but also provided Isis with funds in the form of upfront, milestone and other payments. We are also encouraged by the approval of Kynamro in the US in Jan 2013. However we remain worried that concerns regarding the safety profile of Kynamro. This has the potential to limit its commercial potential. Apart from that, competitor Aegerion Pharmaceuticals received US approval for Juxtapid in Dec 2012 for homozygous familial hypercholesterolemia (HoFH). We maintain a Neutral recommendation on the stock.”
Shares of ISIS Pharmaceuticals traded up 5.09% during mid-day trading on Monday, hitting $16.09. ISIS Pharmaceuticals has a 52 week low of $7.02 and a 52 week high of $15.61. The stock’s 50-day moving average is currently $14.22. The company’s market cap is $1.629 billion.
ISIS Pharmaceuticals last announced its earnings results on Thursday, February 28th. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.23) by $0.20. The company had revenue of $19.90 million for the quarter, compared to the consensus estimate of $15.78 million. During the same quarter last year, the company posted ($0.20) earnings per share. ISIS Pharmaceuticals’s revenue was down 38.6% compared to the same quarter last year. On average, analysts predict that ISIS Pharmaceuticals will post $-1.00 earnings per share for the current fiscal year.
ISIS has been the subject of a number of other recent research reports. Analysts at Liberum Capital initiated coverage on shares of ISIS Pharmaceuticals in a research note to investors on Friday, February 15th. They set a “hold” rating and a $69.00 price target on the stock. Separately, analysts at Piper Jaffray raised their price target on shares of ISIS Pharmaceuticals to $11.00 in a research note to investors on Wednesday, January 30th. Finally, analysts at Needham & Company raised their price target on shares of ISIS Pharmaceuticals from $14.00 to $18.00 in a research note to investors on Wednesday, January 30th. They now have a “buy” rating on the stock.
Four analysts have rated the stock with a buy rating, four have issued a hold rating, and one has assigned a sell rating to the stock. The company presently has an average rating of “overweight” and a consensus price target of $13.71.
To view Zacks’ full report, visit www.zacks.com
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