Ionis Pharmaceuticals Inc (IONS) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $-0.47 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.50. The company posted revenue of $38.50 million in the period, compared to analysts expectations of $38.45 million. The company’s revenue was down -68.0% compared to the same quarter last year.
Many Wall Street Analysts have commented on Ionis Pharmaceuticals Inc. Morgan Stanley Initiated Ionis Pharmaceuticals Inc on Aug 3, 2016 to “Equal-Weight”, Price Target of the shares are set at $37.Company shares were Reiterated by Needham on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 64 from a previous price target of $55 .Company shares were Reiterated by Barclays on Aug 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 41 from a previous price target of $26 .
In a different news, on Jun 2, 2016, Frederick T Muto (director) sold 12,500 shares at $22.31 per share price. According to the SEC, on Apr 7, 2016, Patrick R. O’neil (SVP, Legal & General Counsel) sold 1,000 shares at $45.00 per share price. On Apr 7, 2016, Stanley T Crooke (Chairman and CEO) sold 11,000 shares at $46.12 per share price, according to the Form-4 filing with the securities and exchange commission.
Ionis Pharmaceuticals Inc. formerly Isis Pharmaceuticals Inc. is a ribonucleic acid-targeted (RNA-targeted) drug discovery and development company. The Company is focused on discovering and developing antisense drugs. Its antisense drugs are used to treat a range of diseases including cardiovascular; metabolic; severe and rare diseases including neurological disorders and cancer. Volanesorsen is a drug indicated to treat patients with high triglyceride levels including patients with a genetic condition called familial chylomicronemia syndrome (FCS) and patients with partial lipodystrophy. It is focused on bringing its late-stage Phase III drugs nusinersen volanesorsen and IONIS-TTR to the market. Its lipid-lowering product KYNAMRO (mipomersen sodium) injection is on the market in the United States for patients with homozygous familial hypercholesterolemia (HoFH). Its products also include Alicaforsen IONIS-DMPK-2.5 Plazomicin and IONIS-GCGR.