ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) announced today that it has earned a $2.15 million milestone payment from Biogen related to advancing the ongoing pivotal Phase 3 study (CHERISH) evaluating ISIS-SMNRx in children with spinal muscular atrophy (SMA). To date, Isis has generated more than $120 million in payments from Biogen related to the development of ISIS-SMNRx. (Original Source)
Shares of Isis Pharmaceuticals closed yesterday at $53.69. 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 $61.93 and its 200-day moving average is $64.94.
On the ratings front, Isis Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on June 23, Needham analyst Chad Messer reiterated a Buy rating on ISIS, with a price target of $91, which represents a potential upside of 69.5% from where the stock is currently trading. Separately, on June 22, Deutsche Bank’s Alethia Young reiterated a Buy rating on the stock and has a price target of $78.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Chad Messer and Alethia Young have a total average return of 4.9% and 3.6% respectively. Messer has a success rate of 39.5% and is ranked #1229 out of 3702 analysts, while Young has a success rate of 44.4% and is ranked #1549.
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.