Posted Fri Feb 27, 10:37 am ET Posted By: Jason Napodano, CFA
We are reiterating or rating on Isis Pharmaceuticals (ISIS) of a Buy and maintaining our price target of $22.
We believe that antisense technology represents an exciting and potentially revolutionary platform for developing therapeutic candidates to treat a wide margin of diseases. In our view, antisense as a platform is today where biologics were 10 years ago.
The company's leading candidates are mipomersen (w/ Genzyme, GENZ) for high cholesterol and ISIS-113715 for diabetes, along with several other proprietary and partnered programs for oncology, inflammatory disease, asthma, and viral infections. Our financial model forecasts sustained profitability in 2011.