Ionis Pharmaceuticals (NASDAQ:IONS) Announces Quarterly Earnings Results

Ionis Pharmaceuticals (NASDAQ:IONS) posted its earnings results on Monday. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.82, FiscalAI reports. Ionis Pharmaceuticals had a negative return on equity of 111.08% and a negative net margin of 64.76%. The company had revenue of $243.00 million for the quarter, compared to analyst estimates of $181.57 million.

Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS opened at $39.42 on Monday. The firm has a 50 day simple moving average of $46.80 and a 200-day simple moving average of $65.88. The company has a debt-to-equity ratio of 3.07, a current ratio of 7.89 and a quick ratio of 7.73. The firm has a market cap of $6.55 billion, a PE ratio of -11.39 and a beta of 0.43. Ionis Pharmaceuticals has a 1-year low of $38.31 and a 1-year high of $86.74.

Wall Street Analysts Forecast Growth

IONS has been the topic of several recent research reports. Barclays decreased their price objective on shares of Ionis Pharmaceuticals from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. JPMorgan Chase & Co. dropped their target price on shares of Ionis Pharmaceuticals from $76.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a report on Thursday, October 15th. Wolfe Research cut shares of Ionis Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 16th. Finally, Guggenheim reduced their price target on shares of Ionis Pharmaceuticals from $89.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, September 15th. Nineteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.48.

Insider Activity

In related news, EVP Shannon Devers sold 1,357 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $43.54, for a total transaction of $59,083.78. Following the sale, the executive vice president owned 17,811 shares in the company, valued at approximately $775,490.94. This trade represents a 7.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.81% of the company’s stock.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals is a biotechnology company that discovers and develops RNA-targeted medicines, with a focus on antisense oligonucleotides. Its medicines are designed to act on RNA and change the production of proteins linked to disease. The company’s research and development programs span neurological, cardiovascular, metabolic and rare diseases.

Ionis has developed medicines that it commercializes itself and products advanced or marketed with pharmaceutical partners. Its medicines and partnered products include treatments for conditions such as spinal muscular atrophy and transthyretin amyloidosis.