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

Ionis Pharmaceuticals (NASDAQ:IONS) issued its quarterly earnings results 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 business had revenue of $119.00 million during the quarter, compared to the consensus estimate of $131.42 million. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.87) earnings per share.

Ionis Pharmaceuticals Trading Up 0.6 %

NASDAQ IONS traded up $0.24 on Friday, reaching $39.71. 22,799 shares of the company were exchanged, compared to its average volume of 1,111,263. 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 business’s fifty day moving average price is $42.62 and its 200 day moving average price is $46.82. The stock has a market capitalization of $5.79 billion, a P/E ratio of -15.42 and a beta of 0.41. Ionis Pharmaceuticals has a fifty-two week low of $34.99 and a fifty-two week high of $54.44.

Analysts Set New Price Targets

A number of research analysts have issued reports on IONS shares. Oppenheimer upped their price target on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Wolfe Research upgraded Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Wednesday, April 10th. Piper Sandler increased their price objective on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Wells Fargo & Company cut their price target on shares of Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.54.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Joseph Baroldi sold 4,006 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the transaction, the executive vice president now owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Joseph Baroldi sold 4,006 shares of the company’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 value of $166,649.60. Following the transaction, the executive vice president now directly owns 19,631 shares in the company, valued at $816,649.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Klein III sold 6,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $42.71, for a total value of $256,260.00. Following the transaction, the director now 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 a total of 10,393 shares of company stock worth $440,127 in the last three months. 2.65% of the stock is owned by corporate 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.