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Legg Mason Gives Isolagen a Buy Rating

Legg Mason starts coverage of Isolagen (ILE) with a buy rating and $13 price target.

Analyst John Woolford says Isolagen is a biopharm company specializing in the development and commercialization of autologous cellular therapies. He believes its lead product, used to treat dermal defects (wrinkles, nasolabial folds), holds clear advantages over competing therapies already in the market and represents a strong growth engine.

He says the company's therapies are also being tested for periodontal disease. Given the significant market size for dermal defects, he believes Isolagen's peak annual sales from dermal products could ultimately exceed $500 million.

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