Ionis Pharmaceuticals, Inc. (IONS) Releases Quarterly Earnings Results
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) posted its quarterly earnings results on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.03, Bloomberg Earnings reports. The company had revenue of $104.15 million during the quarter, compared to the consensus estimate of $93.29 million. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. Ionis Pharmaceuticals’s quarterly revenue was up 170.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.47) EPS.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded down 6.22% during mid-day trading on Tuesday, reaching $49.29. 845,393 shares of the company’s stock traded hands. The company’s 50 day moving average is $53.06 and its 200-day moving average is $46.75. The firm’s market cap is $6.11 billion. Ionis Pharmaceuticals has a 52 week low of $24.58 and a 52 week high of $60.01.
Several research analysts have issued reports on IONS shares. Leerink Swann reaffirmed an “outperform” rating and issued a $45.00 price target (down previously from $47.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Monday, July 31st. TheStreet raised Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a report on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $59.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, June 2nd. Finally, Piper Jaffray Companies set a $51.00 price target on Ionis Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $46.44.
In related news, Chairman Stanley T. Crooke sold 16,500 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $52.45, for a total transaction of $865,425.00. Following the sale, the chairman now directly owns 53,014 shares in the company, valued at $2,780,584.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP C Frank Bennett sold 10,000 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.29, for a total transaction of $592,900.00. Following the sale, the senior vice president now owns 25,041 shares in the company, valued at $1,484,680.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,379 shares of company stock worth $2,946,052. Company insiders own 1.86% of the company’s stock.
Several large investors have recently modified their holdings of the company. Prudential Financial Inc. raised its stake in shares of Ionis Pharmaceuticals by 4.9% in the second quarter. Prudential Financial Inc. now owns 8,641 shares of the company’s stock worth $440,000 after buying an additional 400 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Ionis Pharmaceuticals by 62.8% in the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after buying an additional 800 shares during the last quarter. Aviva PLC bought a new stake in shares of Ionis Pharmaceuticals during the second quarter worth approximately $10,187,000. Cadence Capital Management LLC bought a new stake in shares of Ionis Pharmaceuticals during the second quarter worth approximately $600,000. Finally, Sicart Associates LLC raised its stake in shares of Ionis Pharmaceuticals by 5.4% in the second quarter. Sicart Associates LLC now owns 387,322 shares of the company’s stock worth $19,703,000 after buying an additional 19,962 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.
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Ionis Pharmaceuticals Company Profile
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.
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