ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) announced that its license agreement with Bayer HealthCare (Bayer) to develop and commercialize ISIS-FXIRx has received clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Based on this approval, Bayer will pay Isis an immediate $100 million up-front payment. In total, Isis is eligible to receive up to $375 million in payments, including the upfront payment and a $55 million near-term milestone payment upon advancement of the program following the Phase 2 study in patients with compromised kidney function. In addition, Isis is eligible to receive tiered royalties in the low to high twenty percent range on gross margins of ISIS-FXIRx. After completion of ongoing activities at Isis, Bayer will assume all global clinical development as well as worldwide regulatory and commercialization responsibilities for ISIS-FXIRx. (Original Source)

Shares of Isis Pharmaceuticals closed yesterday at $64.33 . ISIS has a 1-year high of $77.80 and a 1-year low of $27.37. The stock’s 50-day moving average is $63.84 and its 200-day moving average is $63.91.

On the ratings front, Isis Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on May 4, Needham analyst Chad Messer reiterated a Buy rating on ISIS, with a price target of $88, which implies an upside of 36.8% from current levels. Separately, on the same day, Piper Jaffray’s Joshua Schimmer reiterated a Hold rating on the stock and has a price target of $68.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Chad Messer and Joshua Schimmer have a total average return of 4.3% and 15.6% respectively. Messer has a success rate of 44.6% and is ranked #1285 out of 3610 analysts, while Schimmer has a success rate of 70.7% and is ranked #129.

Isis Pharmaceuticals Inc 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.