NEW YORK (TheStreet) -- Shares of Isis Pharmaceuticals, Inc. (ISIS) are gaining, up 8.05% to $51.03 on Tuesday, after the drug maker announced yesterday that it intends to offer $425 million aggregate principal amount of convertible senior notes due 2021 in a private placement.
The pharmaceutical company said it intends to use some of the net proceeds of the offering to repurchase up to $140 million principal amount of its outstanding convertible senior notes due 2019.
Calsbad, CA-based Isis Pharmaceuticals develops therapeutic drugs inhibiting cell protein synthesis to treat diseases such as cardiovascular diseases, diabetes and asthma in patients.
TheStreet Ratings team rates ISIS PHARMACEUTICALS INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ISIS PHARMACEUTICALS INC (ISIS) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and feeble growth in its earnings per share."
- You can view the full analysis from the report here: ISIS Ratings Report