Ionis Pharmaceuticals (NASDAQ:IONS) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Ionis Pharmaceuticals (NASDAQ:IONS) posted its earnings results on Tuesday. The company reported ($0.98) earnings per share for the quarter, topping 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 company had revenue of $119.00 million during the quarter, compared to analyst estimates of $131.42 million. During the same period in the prior year, the business posted ($0.87) earnings per share. Ionis Pharmaceuticals’s revenue for the quarter was down 9.2% on a year-over-year basis.

Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS traded down $0.56 during mid-day trading on Wednesday, reaching $40.37. The company’s stock had a trading volume of 216,663 shares, compared to its average volume of 1,105,949. The firm’s fifty day moving average price is $42.86 and its two-hundred day moving average price is $46.92. 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 stock has a market cap of $5.88 billion, a P/E ratio of -15.99 and a beta of 0.41. Ionis Pharmaceuticals has a 12-month low of $34.79 and a 12-month high of $54.44.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on IONS shares. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. Wolfe Research raised Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Wednesday, April 10th. Oppenheimer raised their price objective on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating 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 stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.67.

Insider Transactions at Ionis Pharmaceuticals

In related news, EVP Joseph Baroldi sold 4,006 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 19,631 shares in the company, valued at $816,649.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ionis Pharmaceuticals news, EVP Joseph Baroldi sold 4,006 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total transaction of $166,649.60. Following the completion of the sale, the executive vice president now directly owns 19,631 shares in the company, valued at approximately $816,649.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Klein III sold 6,000 shares of the 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 completion of the transaction, the director now owns 16,346 shares in the company, 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 three months. 2.65% of the stock is currently owned by company 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.