Ionis Pharmaceuticals (NASDAQ:IONS) Announces Earnings Results

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. The company had revenue of $119.00 million during the quarter, compared to analyst estimates of $131.42 million. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. Ionis Pharmaceuticals’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.87) earnings per share.

Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS traded down $0.30 during mid-day trading on Thursday, hitting $39.86. The company’s stock had a trading volume of 67,058 shares, compared to its average volume of 1,109,440. Ionis Pharmaceuticals has a 1 year low of $34.99 and a 1 year high of $54.44. The company has a debt-to-equity ratio of 3.18, a current ratio of 5.90 and a quick ratio of 5.83. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of -15.69 and a beta of 0.41. The business’s fifty day moving average is $42.74 and its two-hundred day moving average is $46.87.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IONS. Piper Sandler upped their target price on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Royal Bank of Canada upped their price target on Ionis Pharmaceuticals from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. StockNews.com raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. JPMorgan Chase & Co. upped their target price on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Finally, Wells Fargo & Company cut their target price on Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.54.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, Director Joseph Klein III sold 6,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $698,137.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Joseph Klein III sold 6,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $698,137.66. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction of $166,649.60. Following the sale, the executive vice president now directly owns 19,631 shares in the company, valued at $816,649.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,393 shares of company stock valued at $440,127. 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.