Markets

Ionis (IONS) Posts Wider than Expected Loss in Q2, Sales Miss

Highs and Lows Stock Data

Carlsbad, CA-based Ionis Pharmaceuticals, Inc.IONS is a drug discovery and development company that focuses on the development of products using ribonucleic acid (RNA)-based technologies. The company discovers new drugs and out-licenses them to partners for license fees, milestone payments, and royalties. Ionis has partnership agreements with several leading health care companies like Biogen and GlaxoSmithKline among others.

Ionis' earnings track record has been mixed so far. Over the four trailing quarters, the company posted an average positive earnings surprise of 16.48%, missing estimates in two quarters and beating the same twice.

Currently, Ionis has a Zacks Rank #3 (Hold) but that could definitely change following the company's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Ionis reported a loss of 29 cents in the second quarter of 2018 which was wider than the Zacks Consensus Estimate of loss of 2 cents.

Revenues: Ionis posted total revenues of $118 million, missing the consensus estimate of $128 million. However, it was up 5.4% year over year.

Key Stats: Revenue increased mainly due to the increase in commercial revenue from Spinraza royalties, which increased over 250%. Tegsedi (inotersen) was approved in the EU for the treatment of stage 1 or stage 2 polyneuropathy in adult patients with hereditary transthyretin amyloidosis (hATTR). The company expects to launch the same in multiple markets in 2018.

Share Market Activity: Share price are down 2.6% in pre-market trading .

Ionis Pharmaceuticals, Inc. Price and EPS Surprise

Ionis Pharmaceuticals, Inc. Price and EPS Surprise | Ionis Pharmaceuticals, Inc. Quote

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Ionis Pharmaceuticals, Inc. (IONS): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

IONS

Other Topics

Investing Stocks

Latest Markets Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More