Ionis Pharmaceuticals (NASDAQ:IONS) Announces Quarterly Earnings Results

Ionis Pharmaceuticals (NASDAQ:IONS) announced its 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. The firm had revenue of $119.00 million for the quarter, compared to analysts’ expectations of $131.42 million. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.87) EPS.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ IONS traded down $0.51 during midday trading on Wednesday, reaching $40.42. 357,389 shares of the stock traded hands, compared to its average volume of 1,107,497. The stock has a market capitalization of $5.89 billion, a PE ratio of -15.99 and a beta of 0.41. The company’s 50 day moving average is $42.86 and its 200 day moving average is $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. Ionis Pharmaceuticals has a one year low of $34.79 and a one year high of $54.44.

Analyst Ratings Changes

IONS has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday. 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 report on Thursday, February 22nd. StockNews.com raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Finally, Wolfe Research raised shares of Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.67.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Joseph Baroldi sold 4,006 shares of the business’s stock in a transaction that occurred 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 is available at this hyperlink. In other news, EVP Joseph Baroldi sold 4,006 shares of the 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 sale, the executive vice president now owns 19,631 shares of the company’s stock, valued at $816,649.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Klein III sold 6,000 shares of Ionis Pharmaceuticals stock in a transaction dated 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 $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 90 days. 2.65% of the stock is owned by insiders.

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.