Cantor Fitzgerald Reiterates Isis Pharmaceuticals (ISIS) Buy Rating

Cantor Fitzgerald analyst Pamela Bassett reiterated her Buy rating for shares of Isis Pharmaceuticals, Inc. (Nasdaq: ISIS), with a price target of $28.

Bassett noted that ISIS-SOD1Rx has been granted Orphan Drug designation by the FDA and funding from the ALS Association and the Muscular Dystrophy Association.

The drug is the first antisense drug to be administered directly into the central nervous system.

A Phase I initiation in patients with an inherited, aggressive form of Lou Gehrig's disease was announced on March 5.

The Cantor Fitzgerald analyst wrote, "we believe Isis is tracking toward long-term exponential growth. We think pharmas' need to cost-effectively innovate for durable sustainability — in particular, to access intra-cellular targets and condense development timelines — continues to drive demand for Isis' RNA technology, plus Regulus' miRNA technology."