Isis Uniquely Well-Positioned - Analyst Blog
We are reiterating or rating on
Isis Pharmaceuticals, Inc. (
ISIS) of a Buy and increasing our price target to $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 ten years ago. Isis Pharmaceuticals' leading candidates are mipomersen -- with
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 profitability in 2011. Management expects to exit 2008 with over $450 million still on the books very conservative guidance in our view. Couple all that cash with the potential that mipomersen is a blockbuster and several other compounds are moving nicely forward, and Isis looks like the premier small-to-mid cap biotechnology company in our universe. We see Isis as uniquely well-positioned for a very successful future.
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