ISIS Pharmaceuticals, Inc. (NASDAQ: ISIS)
ISIS Pharmaceuticals produced a great earnings report that was likely to excite investors yesterday. Unfortunately however we did see excitement, but it went in the wrong direction. Even after smashing earnings projections, ISIS Pharmaceuticals had a rough day in the market. However, today seems to be a bit of a different story. So below, we’ll look into why the stock fell yesterday, what we’re seeing today, and what we can expect from ISIS moving forward. So, let’s get right to it.
What We Saw From ISIS Pharmaceuticals Yesterday
As mentioned above, yesterday was a horrible day for ISIS Pharmaceuticals in the market. However, the downtrend wasn’t caused by poor earnings. Quite the contrary; the earnings report produced by ISIS beat both top line revenue and EPS expectations. So, what was the cause of the decline yesterday?
If you’re looking for an asset specific reason for yesterday’s declines, stop looking; the effort is futile. The reality is that ISIS CEO remains the same, earnings were great, there wasn’t a study that disproved anything, and there was no bad news released whatsoever. Instead, yesterday was a sea of red in the market. No matter where you looked, it was likely that you were looking at losses. Unfortunately, ISIS Pharmaceuticals got caught up in the mix.
What We’re Seeing From The Stock Today
Yesterday, I mentioned that the downtrends simply didn’t make sense, and when we start seeing the market wide recovery, we’ll see a stronger recovery from ISIS Pharmaceuticals than from other stocks in the industry. That’s exactly the case today. ISIS is up, and in a big way. While it hasn’t completely made up for yesterday’s losses, I wouldn’t be surprised if that happened by the end of the day today; or at least the end of the week at the latest. Currently (12:26), ISIS is trading at $60.90 per share after a gain of 4.39% so far today.
What We Can Expect To See Moving Forward
- Short Term Outlook – In the short term outlook, I’m expecting to see more upward momentum from the stock. Yesterday’s declines brought the stock well below where it deserves to be. Since the market has a way of correcting things like that, I’m expecting to see more short term gains as things level off.
- Long Term Outlook – In the long run, I’m also expecting to see great things from this stock. The company recently announced a big deal with Bayer that’s sure to be a profitable endeavor in the long run. Also, guidance and management seems great at the moment. All in all, I’m expecting to see long term gains.
What Do You Think?
Do you think ISIS Pharmaceuticals will continue to grow? Why or why not? Let us know in the comments below!