Isis Pharmaceuticals, Inc. (NASDAQ:ISIS) announced today that it has earned a $7 million milestone payment from Biogen Idec related to the advancement of the ongoing open-label extension study of ISIS-SMNRx in children with spinal muscular atrophy (SMA). The open-label extension study of ISIS-SMNRx is offered to those children with SMA who have completed dosing in Isis’ previous studies. In this study, children with SMA are receiving a 12 mg dose of ISIS-SMNRx every six months for the duration of the study. For further study information, please visit www.clinicaltrials.gov and search for ISIS-SMNRx. ABOUT ISIS-SMNRx ISIS-SMNRx i… Read more ยป

Shares of Isis Pharmaceuticals closed yesterday at $71.63 . ISIS has a 1-year high of $75.24 and a 1-year low of $22.25. The stock’s 50-day moving average is $60.49 and it’s 200-day moving average is $43.90.

On the ratings front, Isis Pharmaceuticals has been the subject of a number of recent research reports. In a report published on January 8, analyst Chad Messer from Needham reiterated a Buy rating on ISIS, with a price target of $80, which represents a potential upside of 11.7% from where the stock is currently trading. Separately, on December 16, J.P. Morgan`s Cory Kasimov assigned a Hold rating to Isis Pharmaceuticals shares and has a price target of $65.

In total, one research analyst has assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $71.63 which is -10.7% under where the stock closed yesterday.

Isis Pharmaceuticals is engaged in antisense drug discovery and development, exploiting a novel drug discovery platform it created to generate a broad pipeline of first-in-class drugs.