New York, October 17 (FinanceEnquiry.com) – Analysts at Piper Jaffray downgrade their rating on the shares of Isis Pharmaceuticals, Inc (NASDAQ: ISIS) from OVERWEIGHT to NEUTRAL. The 12-month target price has been reduced from $18 to $10.
In a research note published on October 16, the analysts mention that basically on briefing of FDA, rating of the company has been reduced. Furthermore, for Endocrinologic of KYNAMRO and Metabolic Drugs Advisory Committee meeting on Thursday, October 18, the briefing documents were recently released by the FDA.
Moreover, in addition to “hemangiosarcomas” and “hepatocellular adenomas or carcinomas” in mice “at clinically appropriate exposures.”, the astonishment in the docs has to do with questions number 5 and number 6 connecting to “fatal fibrohistiocytic tumors”.
In addition to this, lowering the possible probability of an optimistic panel vote, a considerable change in the view of KYNAMRO’s safety profile going into the panel on October 18 is represented by it. Besides, on October 15, ISIS Pharmaceuticals, Inc closed at $13.15, the analysts add further.
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