Posts for Ticker ‘ISIS’

Top 10 Analyst Upgrades and Downgrades (AFL, CPB, ECL, ISIS, MGM, NE, NSC, PERY, TER, WDC)

These are the ten top Wall Street analyst calls with upgrades, downgrades, and initiations we have this Wednesday morning:

Aflac (AFL) Cut to Hold from Buy at Citigroup.
Campbell Soup (CPB) Raised to Sector Perform at RBC.
Ecolab (ECL) Cut to Neutral at JPMorgan.
Isis Pharmaceuticals (ISIS) Started as Buy at Cantor Fitzgerald.
MGM Mirage (MGM) Cut to Neutral at BofA/Merrill.
Noble Corporation (NE) Raised to Overweight at Morgan Stanley.
Norfolk Southern (NSC) Cut to Neutral at BofA/Merrill.
Perry Ellis (PERY) Cut to Neutral at SunTrust.
Teradyne (TER) Started as Underweight at Morgan Stanley.
Western Digital (WDC) Cut to Neutral at Baird.

Jon C. Ogg
July 27, 2009

Posted on: July 29, 2009 – 7:53 am in Analyst Calls, , , , , , , , , ,

Isis: A Cholesterol/Lipid Diety (ISIS, GENZ)

Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) and Genzyme Corp. (NASDAQ: GENZ) have entered into a major strategic alliance in which Genzyme will develop and commercialize mipomersen. Mipomersen is Isis’ potential blockbuster lipid-lowering treatment for high risk cardiovascular patients that utilizes novel antisense technology.  Mipomersen is in Phase III studies.

As part of the strategic relationship, Genzyme will also have preferred access to future Isis drugs for CNS and certain rare diseases. This represents a major score for Isis.  Genzyme is taking a stake in the company and partnering with it.

Genzyme will pay Isis $150 million to purchase five million shares of Isis common stock for $30 per share.  Genzyme will also pay Isis a $175 million up-front license fee for mipomersen.  There’s still more.

In addition to the initial $325 million from the stake and the licensing fee, Isis has the potential to receive significant milestone payments for mipomersen and the two companies will share profits once that mipomersen has been launched.  Genzyme and Isis will share mipomersen profits 50/50 when annual worldwide revenues reach $2 billion or more. The profit share begins with a 70/30 Genzyme/Isis split and reaches 50/50 on a sliding scale as annual revenues ramp up to $2 billion.

Mipomersen has been shown in phase 2 trials to reduce cholesterol and other atherogenic lipids more than 40 percent beyond reductions achieved with current standard lipid-lowering drugs, enabling more patients to achieve lipid targets.  Hence the potential blockbuster status if this goes as well it seems. Mipomersen’s initial indication will be for patients with familial hypercholesterolemia (FH), with an anticipated filing in 2009.

As Isis had a $1.27 Billion market cap at the close, it mightr not be quite as large of a surprise for the gain.  Shares are up over 45% in after-hours trading to $21.27 and the 52-week trading range had been $8.30 to $18.23.

Jon C. Ogg
January 7, 2008

Posted on: January 7, 2008 – 5:21 pm in Biotech, ,

ISIS Scores On J&J Collaboration & Milestones (ISIS, JNJ)

ISIS Pharmaceuticals Inc. (NASDAQ:ISIS) is trading up pre-market on new that it entered a broad collaboration with Ortho-McNeil, a Johnson & Johnson (NYSE:JNJ) unit, for discovery, development and commercialization of antisense drugs to treat metabolic diseases.

The company has two drugs here for this, but the company bought its entire franchise back and this collaboration will include Type 2 diabetes.  ISIS will grant to Ortho-McNeil worldwide development and commercialization rights to two of its diabetes development candidates, ISIS 325568 and ISIS 377131, which inhibit the production of glucagon receptor and glucocorticoid receptor.

Ortho-McNeil will provide funding to ISIS to support the joint discovery of novel drugs to treat diabetes and obesity. J&J will continue development of these drugs after the initial collaboration phase. ISIS will receive a $45 million upfront licensing fee, and research and development funding over the period of the collaboration. In addition to the licensing fee, ISIS could receive more than $230 million in milestone payments upon successful development and regulatory approvals of ISIS 325568 and ISIS 377131, plus royalties on sales. ISIS may also receive milestones and royalties on the successful development and regulatory approvals of additional drugs discovered as part of the collaboration.

Before this morning’s news, ISIS had a $1.06 Billion market cap and shares closed yesterday at $12.76.  Shares are up 8% at $13.80 after the CEO came on CNBC, and its 52-week trading range for its stock was $7.49 to $14.00.  On the June 30 balance sheet, the company had over $200 million in cash and short-term investments and its total liabilities were listed as $215.97 million.

Jon C. Ogg
September 13, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he produces the 24/7 Wall St. Special Situation Investing Newsletter and he does not own securities in the companies he covers.

Posted on: September 13, 2007 – 7:32 am in Biotech, , , ,

Wall St. Research And Late News 7/9/2007

BIDU downgraded to hold at Citi.

Wachovia lowers earnings estimates at INFY.

AFT announces revenue for Q2 will be below Wall St. consensus.

ISIS upgraded to strong buy at Needham.

XFML says revenue will be above prior guidance.

Douglas A. McIntyre

Posted on: July 9, 2007 – 7:19 am in Uncategorized, , , , ,

Top 10 Mid-Day Movers (MAY 9, 2007)

Stock Tickers: CSCO, DNDN, CMGI, IBM, ISIS, RTP, FWLT, MVSN, TXN, ERTS

So far this is turning out to be an interesting day, despite what looks to be very mixed and dull markets ahead of a Fed meeting announcement.  Did you notice how this is the "least covered" Federal Reserve meeting by the media today in several years?

There are quite a few active stocks despite the market and despite the Fed.  This is not the actual top-10 most actives or the top-10 most changed, but these are the ones we wanted to focus on:

Dendreon (DNDN) shares murdered by 60% to $7.10-ish after the FDA sends back an "approvable letter" with a request for more information on Provenge for the treatment of late-stage prostate cancer.

Cisco Systems (CSCO) is now down over 6% at $26.55 mid-day and we’ve already seen 90 million shares change hands.  Their numbers were fine even if Wall Street wanted more, but the mere hint of discussing North American businesses looking at a slower cap-ex environment will do that.

CMGI (CMGI) is up more than 2% at $2.44, and getting closer to its recent highs.

IBM (IBM) is hardly active considering the "Goldman Sachs upgrade to a Buy."  Shares are up 0.7% on 4.3 million shares at $104.00, and while that is actually a new recent high it’s probably one of the upgrades that went out yesterday.

Isis Pharmaceuticals (ISIS) is up almost 4% after Bristol-Myers Squibb signed a cardiovascular pact with the company.

Foster Wheeler (FWLT) is up more than 17% on what was nothing short of a spectacular earnings blowout.  Expect Cramer to be out touting this one today or tonight.

Macrovision (MVSN) shares are up 16% to $27.85 after beating earnings and raising guidance.

Electronic Arts (ERTS) shares are down on the following quarter guidance, even though the 2008 guidance is solid.  It has to be hard to trust even them when they have to compete in calendar Q4 against the upcoming Halo 3 and the Grand Theft Auto releases.  Shares are down 4% at $50.70.

Texas Instruments (TXN) shares are trading up 4% at $36.60 on analyst meeting commentary.

Rio Tinto (RTP) shares are trading up 12% at $297.50 on persistent merger mania driving rumors and reports that BHP Billiton is interested.  This is even with Rio Tinto saying they are unaware of such interest.

Jon C. Ogg
May 9, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in any of the companies he covers.

Posted on: May 9, 2007 – 11:31 am in Most Actives, , , , , , , , , ,