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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