Ionis Pharmaceuticals (NASDAQ:IONS) Issues Earnings Results

Ionis Pharmaceuticals (NASDAQ:IONS) announced its quarterly earnings data 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. The company had revenue of $119.00 million during the quarter, compared to analyst estimates of $131.42 million. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period last year, the business earned ($0.87) EPS.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock traded down $0.51 on Wednesday, hitting $40.42. The company had a trading volume of 357,389 shares, compared to its average volume of 1,107,497. Ionis Pharmaceuticals has a 52 week low of $34.79 and a 52 week high of $54.44. The company has a market cap of $5.89 billion, a PE ratio of -15.99 and a beta of 0.41. The business has a 50-day simple moving average of $42.86 and a 200-day simple moving average of $46.92. The company has a debt-to-equity ratio of 3.18, a current ratio of 5.90 and a quick ratio of 5.83.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IONS shares. StockNews.com raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Oppenheimer upped their price target on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price objective on shares of Ionis Pharmaceuticals from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Royal Bank of Canada raised their price target on shares of Ionis Pharmaceuticals from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $57.67.

About Ionis Pharmaceuticals

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.