Morning Commentary: Isis Pharmaceuticals notches another outright gain

By Rebecca Melvin

New York, Oct. 16 – Isis Pharmaceuticals Inc.’s 1% convertible bonds traded up more than 2 points on an outright basis in the early going on Monday, extending a 3-point jump on Friday as shares of the Carlsbad, Calif.-based developer of gene-based therapeutic drugs were swept higher along with the broader stock markets.

Isis Pharmaceuticals’ 1% convertibles due 2021 traded at 118 early Monday, which was up from 115.69 on Friday. On Thursday the bond was around 112.

The convertibles were moving in tandem with Isis shares, which were up by $3.68, of 6%, at $62.78 on Monday.

Stocks were higher across the board, with U.S. indexes notching further record highs as global stocks also moved higher.

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