While Fools should generally take the opinion of Wall Street with a grain of salt, it's not a bad idea to take a look at particularly stock-shaking analyst upgrades and downgrades -- just in case their reasoning behind the call makes sense.

What: Shares of ISIS Pharmaceuticals, (NASDAQ:IONS) popped 6% today after Deutsche Bank initiated coverage on the biotechnology company with a buy rating.

So what: Along with the call, analyst Alethia Young planted a price target of $60 on the stock, representing 25% worth of upside to yesterday's close. While contrarians might be turned off by ISIS' massive run-up over the past year, Young's sum-of-the-parts valuation analysis suggests that there's plenty of room for the shares to run.

Now what: According to Deutsche, ISIS' risk/reward trade-off remains particularly attractive. "ISIS is a leading platform biotech company with a technology that can silence genes called antisense. We think the platform has significantly evolved and is validated," noted Young. "We see competitive risks on APOC-3 franchise in '14 but think the downside is manageable ($7-10/sh)." So while ISIS' red-hot and volatile shares might not be suited for conservative investors, less risk-averse Fools might want to look into Deutsche's bull call. 

Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool recommends ISIS Pharmaceuticals. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.