Ionis Pharmaceuticals (IONS) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Share on StockTwits

Ionis Pharmaceuticals (NASDAQ:IONS) issued its earnings results on Tuesday. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.13, MarketWatch Earnings reports. Ionis Pharmaceuticals had a negative net margin of 7.20% and a negative return on equity of 1.22%. The company had revenue of $145.40 million for the quarter, compared to the consensus estimate of $146.77 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis.

Shares of NASDAQ IONS traded down $0.29 during mid-day trading on Wednesday, hitting $53.65. The stock had a trading volume of 14,423 shares, compared to its average volume of 1,192,375. The company has a quick ratio of 8.34, a current ratio of 8.38 and a debt-to-equity ratio of 0.76. Ionis Pharmaceuticals has a 1 year low of $39.07 and a 1 year high of $57.92. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 667.31 and a beta of 2.39.

In other Ionis Pharmaceuticals news, COO Brett P. Monia sold 16,493 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $54.00, for a total transaction of $890,622.00. Following the transaction, the chief operating officer now directly owns 24,834 shares of the company’s stock, valued at approximately $1,341,036. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP C Frank Bennett sold 12,500 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $49.54, for a total transaction of $619,250.00. Following the transaction, the senior vice president now directly owns 31,896 shares in the company, valued at $1,580,127.84. The disclosure for this sale can be found here. 2.44% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. TRUE Private Wealth Advisors purchased a new position in Ionis Pharmaceuticals during the 3rd quarter valued at $133,000. Rockefeller Capital Management L.P. purchased a new position in Ionis Pharmaceuticals during the 2nd quarter valued at $156,000. Parallel Advisors LLC increased its position in Ionis Pharmaceuticals by 195.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,023 shares of the company’s stock valued at $156,000 after purchasing an additional 2,000 shares during the period. Clarus Wealth Advisors increased its position in Ionis Pharmaceuticals by 200.0% during the 3rd quarter. Clarus Wealth Advisors now owns 3,600 shares of the company’s stock valued at $186,000 after purchasing an additional 2,400 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Ionis Pharmaceuticals during the 2nd quarter valued at $212,000. 86.35% of the stock is currently owned by institutional investors and hedge funds.

IONS has been the topic of several analyst reports. ValuEngine raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Morgan Stanley decreased their target price on shares of Ionis Pharmaceuticals from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 28th. Piper Jaffray Companies set a $50.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Monday, September 24th. Stifel Nicolaus lifted their target price on shares of Ionis Pharmaceuticals from $45.00 to $48.00 and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Finally, Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $53.86.

COPYRIGHT VIOLATION NOTICE: “Ionis Pharmaceuticals (IONS) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS” was published by Week Herald and is owned by of Week Herald. If you are viewing this piece on another publication, it was illegally copied and republished in violation of U.S. and international copyright laws. The original version of this piece can be viewed at https://weekherald.com/2018/11/07/ionis-pharmaceuticals-ions-posts-quarterly-earnings-results-beats-estimates-by-0-13-eps.html.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.

Read More: What Factors Can Affect Return on Equity?

Earnings History for Ionis Pharmaceuticals (NASDAQ:IONS)

Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply