Smith continues, "Meanwhile, Isis is loaded with cash and the company expects to end 2009 with more than $550 million in cash -- equal to 50% of its current market cap.

"The outlook for 2009 is very positive for ISIS. Several key milestones are on the horizon with the most significant being data from its Phase III study evaluating mipomersen.

"Along with its partners, ISIS expects to report data from some of the other drugs currently in its pipeline for a number of different diseases.

"Additionally, the company will aggressively grow its pipeline by adding three to five new drugs per year, and advancing the drugs currently in its pipeline. If 2009 is even remotely as productive as last year, then ISIS' shares will do splendidly. We are recommending that you accumulate shares on pullback."

In his review of the stock, John McCamant says, "ISIS had a great year in 2008 creating value for their shareholders and adding cash to their coffers, ending the year with $491 million in cash, which amazingly does not include the $175 million received from Abbott in January of this year.

"This was beyond many analyst's expectations and is mainly due to their savvy partnerships they have inked, namely with GlaxoSmithKline Genzyme, and Abbott Labs. The company expects to end the year with a great cash position of $550M.

"ISIS continues to deliver on all fronts and we expect 2009 to have significant positive news flow. We expect them to continue to deliver attractive partnerships throughout the year which further validates their technology platform.

"At current prices, we would not be surprised to see a large company swoop in with a premium buy-out. That being said, given how well the company has delivered of late, it would have to be a very high price, say maybe $30, before we would sell our shares. ISIS is a buy under $15."

Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.