Isis Pharmaceutical (ISIS -8%) is getting pasted today after Jefferies Analyst Eun Yang cut the...

|By:, SA News Editor

Isis Pharmaceutical (ISIS -8%) is getting pasted today after Jefferies Analyst Eun Yang cut the shares two notches, from Buy to Underperform. Yang says that all the good news is already priced into the stock and the the downside risk, especially from launch delays or disappointing sales, becomes heightened at these levels. It's hard to argue with that logic, considering that the stock has nearly doubled since mid-April.