Piper Jaffray Says ISIS Pharmaceuticals Has Most Attractive Pipeline in Biotech; Shares Rise 8%Chris Middlebrooks (Author) Published Date : Jun 17, 2014 09:48 ET
Shares of Isis Pharmaceuticals (ISIS) gained more than 8% in midday trading Friday after Piper Jaffray said it believes the drug manufacturer's wholly owned and partnered assets represent the most attractive and undervalued pipeline in biotech. Analyst Joshua Schimmer added that, ISIS is a top mid-cap pick. Following the company's R&D day, Piper Jaffray reiterated an overweight rating on ISIS and a price target of $42 per share. ISIS shares were up 8.2% to $26.97 in midday trading Friday. The stock has a 52-week range of $20.01 - $62.66.
Piper Jaffray Says ISIS Pharmaceuticals Has Most Attractive Pipeline in Biotech; Shares Rise 8%