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Investor's Alert: International Business Machines Corp. (NYSE:IBM), PepsiCo, Inc. (NYSE:PEP), ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS)

Investor's Alert: International Business Machines Corp. (NYSE:IBM), PepsiCo, Inc. (NYSE:PEP), ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS)
Written by
Joel Najarian
Published on
October 13, 2014
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Coverage of IT company, International Business Machines Corp. (NYSE:IBM) has been initiated by analysts at Jefferies with an underperform rating and a price target of $163 a share. The price target on the stock represents a potential downside of 13% from its Thursday closing price. Shares of International Business Machines Corp. (NYSE:IBM) are moving within a 52-week trading range of $172.19 - $199.21.A notable analyst action consisted of the food and beverage company PepsiCo, Inc. (NYSE:PEP) having its price target raised to $102 from $95 by analysts at Barclays. The firm reiterated its overweight rating on the stock. Shares of PepsiCo, Inc. (NYSE:PEP) are moving within a 52-week trading range of $77.01 - $96.22.ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) has provided an update on its ongoing Phase 2 clinical studies of ISIS-SMNRx in infants and children with spinal muscular atrophy (SMA). ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) is treating infants with SMA with ISIS-SMNRx in a Phase 3 study called ENDEAR, and plans to initiate a second Phase 3 study, called CHERISH, in children with SMA later this year. In the Phase 2 study in infants with SMA, a total of 20 infants were dosed, including four infants in the 6 mg cohort and 16 infants in the 12 mg cohort.In the 6 mg cohort Isis previously reported a median event-free age of 14 months for the infants in the PPEP on April 7, 2014. The median event-free age on September 2, 2014 for the infants in this group is now 16.3 months. In the 12 mg cohort ISIS previously reported a median event-free age of 9.6 months for the infants who constituted the 12 mg PPEP as of April 7, 2014. The median event-free age at September 2, 2014 for these infants is now 13.8 months. The median event-free age of the 12 infants in the PPEP as of September 2, 2014 for the 12 mg cohort is 11.6 months. Of these 12 infants, nine are alive without the need for permanent ventilation.In measures of muscle function the company reported mean increases from baseline in of 9.3 points with 14 of the 16 infants showing improvement. Developmental milestones are also being examined in the study, with 14 out of the 16 infants exhibiting improvements in motor milestones. Isis reported the results from an analysis of spinal cord tissue samples from autopsies showing that ISIS-SMNRx is distributed throughout the central nervous system. The results of these analyses also showed greater levels of full length SMN2 mRNA and full length SMN protein in tissues in ISIS-SMNRx-treated SMA infants compared to the levels of SMN2 mRNA and full length SMN protein in the tissues analyzed from untreated SMA infants. Shares of ISIS are at $37.25 within a 52-week range of $22.25 - $62.66.

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