Ionis Pharmaceuticals (NASDAQ:IONS) Releases Quarterly Earnings Results, Beats Estimates By $0.82 EPS

Ionis Pharmaceuticals (NASDAQ:IONS) announced its quarterly earnings data on Monday. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.82, FiscalAI reports. The firm had revenue of $243.00 million during the quarter, compared to analyst estimates of $181.57 million. Ionis Pharmaceuticals had a negative net margin of 64.76% and a negative return on equity of 111.08%.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ:IONS opened at $39.42 on Monday. Ionis Pharmaceuticals has a twelve month low of $38.31 and a twelve month high of $86.74. The company’s 50 day moving average is $46.80 and its 200 day moving average is $65.88. The company has a current ratio of 7.89, a quick ratio of 7.73 and a debt-to-equity ratio of 3.07. The company has a market cap of $6.55 billion, a PE ratio of -11.39 and a beta of 0.43.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James Financial set a $79.00 price target on shares of Ionis Pharmaceuticals in a research note on Tuesday, October 20th. UBS Group started coverage on shares of Ionis Pharmaceuticals in a research note on Thursday, October 15th. They set a “buy” rating and a $88.00 price objective for the company. TD Cowen reissued a “buy” rating on shares of Ionis Pharmaceuticals in a report on Tuesday, September 8th. Royal Bank Of Canada cut their target price on Ionis Pharmaceuticals from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Finally, BMO Capital Markets upgraded Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $54.00 to $66.00 in a research note on Thursday, October 22nd. Nineteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.48.

Insider Buying and Selling

In other news, EVP Shannon Devers sold 1,357 shares of the company’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $43.54, for a total value of $59,083.78. Following the sale, the executive vice president directly owned 17,811 shares of the company’s stock, valued at $775,490.94. This represents a 7.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.81% of the company’s stock.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals is a biotechnology company that discovers and develops RNA-targeted medicines, with a focus on antisense oligonucleotides. Its medicines are designed to act on RNA and change the production of proteins linked to disease. The company’s research and development programs span neurological, cardiovascular, metabolic and rare diseases.

Ionis has developed medicines that it commercializes itself and products advanced or marketed with pharmaceutical partners. Its medicines and partnered products include treatments for conditions such as spinal muscular atrophy and transthyretin amyloidosis.