Ionis Pharmaceuticals Inc (IONS) Releases Earnings Results, Beats Estimates By $0.13 EPS

Ionis Pharmaceuticals Inc (NASDAQ:IONS) issued its quarterly earnings data on Tuesday. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.13. Ionis Pharmaceuticals had a negative net margin of 77.30% and a negative return on equity of 120.60%. The business had revenue of $110.30 million for the quarter, compared to analysts’ expectations of $86.03 million. During the same period in the previous year, the business earned ($0.52) earnings per share. The company’s revenue was up 199.2% on a year-over-year basis.

Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded up 3.10% during midday trading on Friday, hitting $43.55. The stock had a trading volume of 1,759,506 shares. The firm’s 50-day moving average is $43.64 and its 200 day moving average is $44.42. The company’s market capitalization is $5.40 billion. Ionis Pharmaceuticals has a one year low of $19.59 and a one year high of $57.00.

Earnings History for Ionis Pharmaceuticals (NASDAQ:IONS)

In related news, SVP C Frank Bennett sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the transaction, the senior vice president now owns 19,788 shares in the company, valued at $1,088,340. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO B Lynne Parshall sold 4,625 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $49.26, for a total value of $227,827.50. Following the completion of the transaction, the chief operating officer now owns 30,276 shares in the company, valued at approximately $1,491,395.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,275 shares of company stock valued at $2,592,940. 1.86% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Hanseatic Management Services Inc. bought a new stake in Ionis Pharmaceuticals during the first quarter valued at about $138,000. Massey Quick & Co. LLC bought a new stake in Ionis Pharmaceuticals during the fourth quarter valued at about $143,000. Westpac Banking Corp acquired a new stake in shares of Ionis Pharmaceuticals during the first quarter worth about $171,000. Soros Fund Management LLC acquired a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth about $206,000. Finally, Capstone Asset Management Co. increased its stake in shares of Ionis Pharmaceuticals by 10.3% in the first quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock worth $207,000 after buying an additional 480 shares during the period. Hedge funds and other institutional investors own 87.76% of the company’s stock.

IONS has been the topic of a number of recent analyst reports. Leerink Swann restated an “outperform” rating and set a $45.00 price objective (down from $47.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday. Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Monday, February 13th. Vetr raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating and set a $37.67 target price on the stock in a report on Tuesday, March 21st. BMO Capital Markets reaffirmed a “positive” rating and set a $63.00 target price on shares of Ionis Pharmaceuticals in a report on Tuesday, February 14th. Finally, Piper Jaffray Companies set a $51.00 target price on Ionis Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $42.13.

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About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.

12 Month Chart for NASDAQ:IONS

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