Isis Pharmaceuticals, Inc. engages in the discovery and
development of antisense drugs using novel drug discovery platform. The
company’s flagship product, KYNAMRO injection, is an apo-B synthesis
inhibitor for patients with homozygous familial hypercholesterolemia for
the reduction of low-density lipoprotein cholesterol. It also has a
pipeline of 28 drugs in development for the treatment of cardiovascular,
severe and rare, neurologic, and metabolic diseases, as well as cancer.
The company has collaboration agreements with AstraZeneca to discover
and develop antisense drugs against five cancer targets; Biogen Idec to
develop and commercialize ISIS-SMNRx for the treatment of spinal
muscular atrophy; and Bristol-Myers Squibb to discover, develop, and
commercialize antisense drugs targeting proprotein convertase
subtilisin/kexin type 9.
Please take a look at the 1-year chart of ISIS (Isis Pharmaceuticals, Inc.) below with my added notations:
ISIS has rallied quite nicely for most of the year. Over the last 3 months, the stock seems to have hit a wall at $40 (red). A move through that level would be a 52-week high breakout and should mean much higher prices for the stock. ISIS has currently been holding at $36 (green), so a break below that probably means a fall back down to the previous $30 support (blue).
The Tale of the Tape: ISIS has a key level of resistance at $40. A long trade could be made on a break through that level, with a stop placed under $40. Traders could also enter a long at $36, or a short on a break below $36.
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Please take a look at the 1-year chart of ISIS (Isis Pharmaceuticals, Inc.) below with my added notations:
ISIS has rallied quite nicely for most of the year. Over the last 3 months, the stock seems to have hit a wall at $40 (red). A move through that level would be a 52-week high breakout and should mean much higher prices for the stock. ISIS has currently been holding at $36 (green), so a break below that probably means a fall back down to the previous $30 support (blue).
The Tale of the Tape: ISIS has a key level of resistance at $40. A long trade could be made on a break through that level, with a stop placed under $40. Traders could also enter a long at $36, or a short on a break below $36.
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