ISIS has had a rough time this year falling from a high of about $60 all the way down to just over $23. Right now as of 6/3/2014, the stock sits at $27.74 which is more than 50% below its all time high. Is it time to start thinking about buying this stock now that a reversal seems to be taking place? I think so.
Considered to have an extremely strong pipeline, this biotech stock is a good candidate for a strong turnaround in the last half of 2014 and into 2015. They have a variety of drugs in development including ones for myotonic dystrophy, hepatitis B, prostate cancer, Huntington’s disease, high triglycerides, and high cholesterol.
The stock popped from about $23 to $31 in the last 10 days on the Piper Jaffray recommendation and on possible takeover rumors as well. But now in the last few sessions it has come back to the mid $27 range giving investors a good entry point if you are looking to add biotech to your portfolio.
This is not a stock that you can buy today and hope for a profit right away. As with any biotech stock that has a good pipeline, you are investing now in hopes that some of those drugs will pay off down the line. The good thing about ISIS is that the strength of that pipeline gives you a solid reason to believe that it could have hit bottom here at the mid $20 level. Additionally, if the whole market starts to tank, hopefully ISIS will hold up better than most based the future prospects of that pipeline.