Ionis Pharmaceuticals (NASDAQ:IONS) Announces Quarterly Earnings Results

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

Ionis Pharmaceuticals Stock Performance

Shares of IONS stock traded down $0.28 during trading hours on Wednesday, reaching $40.65. 445,335 shares of the company traded hands, compared to its average volume of 1,109,170. The firm has a 50-day moving average price of $42.86 and a 200 day moving average price of $46.92. The company has a market cap of $5.92 billion, a P/E ratio of -15.99 and a beta of 0.41. The company has a debt-to-equity ratio of 3.18, a current ratio of 5.90 and a quick ratio of 5.83. Ionis Pharmaceuticals has a 12-month low of $34.79 and a 12-month high of $54.44.

Wall Street Analyst Weigh In

Several brokerages have commented on IONS. StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, April 9th. Piper Sandler upped their target price on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Wolfe Research upgraded shares of Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ionis Pharmaceuticals from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.67.

Insider Buying and Selling

In other news, Director Joseph Klein III sold 6,000 shares of the firm’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 directly owns 16,346 shares in the company, valued at approximately $698,137.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph Klein III sold 6,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $42.71, for a total value of $256,260.00. Following the completion of the transaction, the director now owns 16,346 shares of the company’s stock, valued at $698,137.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Baroldi sold 4,006 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total value of $166,649.60. Following the sale, the executive vice president now owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,393 shares of company stock valued at $440,127. 2.65% of the stock is owned by corporate insiders.

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.