Ionis Pharmaceuticals (NASDAQ:IONS) Announces Earnings Results

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) released its earnings results on Tuesday. The company reported ($0.98) EPS for the quarter, topping analysts' consensus estimates of ($1.10) by $0.12, Briefing.com reports. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The firm had revenue of $119.00 million for the quarter, compared to analysts' expectations of $131.42 million. During the same period in the prior year, the firm posted ($0.87) earnings per share. The company's quarterly revenue was down 9.2% on a year-over-year basis.

Ionis Pharmaceuticals Trading Down 1.9 %

Shares of Ionis Pharmaceuticals stock traded down $0.77 on Wednesday, reaching $40.16. The company had a trading volume of 1,527,126 shares, compared to its average volume of 1,121,470. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of -15.69 and a beta of 0.41. 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 firm's 50-day moving average price is $42.74 and its two-hundred day moving average price is $46.87. Ionis Pharmaceuticals has a 1 year low of $34.79 and a 1 year high of $54.44.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP Joseph Baroldi sold 4,006 shares of Ionis Pharmaceuticals 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 completion of the transaction, the executive vice president now owns 19,631 shares in the company, valued at approximately $816,649.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Joseph Klein III sold 6,000 shares of the business's stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph Baroldi sold 4,006 shares of the business's 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 transaction, the executive vice president now owns 19,631 shares of the company's stock, valued at approximately $816,649.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,393 shares of company stock worth $440,127. 2.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on IONS. StockNews.com raised Ionis Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, February 24th. Wolfe Research raised Ionis Pharmaceuticals from a "peer perform" rating to an "outperform" rating and set a $58.00 price objective on the stock in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lifted their target price on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the company a "neutral" rating in a research note on Thursday, February 1st. Royal Bank of Canada lifted their target price on Ionis Pharmaceuticals from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, January 26th. Finally, Oppenheimer lifted their target price on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $59.54.

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.