Ionis Pharmaceuticals (NASDAQ:IONS) Posts Earnings Results, Beats Expectations By $0.12 EPS

Ionis Pharmaceuticals (NASDAQ:IONS) released its quarterly earnings results on Tuesday. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.12, Briefing.com reports. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The company had revenue of $119.00 million for the quarter, compared to analysts’ expectations of $131.42 million. During the same period in the previous year, the business posted ($0.87) earnings per share. The business’s quarterly revenue was down 9.2% compared to the same quarter last year.

Ionis Pharmaceuticals Stock Down 0.7 %

NASDAQ IONS traded down $0.28 on Wednesday, hitting $40.65. 445,335 shares of the company were exchanged, compared to its average volume of 1,109,170. The company has a current ratio of 5.90, a quick ratio of 5.83 and a debt-to-equity ratio of 3.18. The company has a market cap of $5.92 billion, a PE ratio of -15.99 and a beta of 0.41. The stock has a fifty day moving average of $42.86 and a 200-day moving average of $46.92. Ionis Pharmaceuticals has a 12 month low of $34.79 and a 12 month high of $54.44.

Analyst Ratings Changes

A number of equities analysts have recently commented on IONS shares. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday. Royal Bank of Canada upped their price target on Ionis Pharmaceuticals from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. Finally, Piper Sandler increased their target price on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.67.

Insider Buying and Selling at Ionis Pharmaceuticals

In related news, Director Joseph Klein III sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $42.71, for a total transaction of $256,260.00. Following the transaction, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Joseph Baroldi sold 4,006 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the sale, the executive vice president now owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Klein III sold 6,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $42.71, for a total transaction of $256,260.00. Following the sale, the director now owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,393 shares of company stock valued at $440,127. Corporate insiders own 2.65% of the company’s stock.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.