Revenue Update on Ionis Pharmaceuticals Inc(NASDAQ:IONS)

Ionis Pharmaceuticals Inc(NASDAQ:IONS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $38.47M. Analysts estimated a revenue of $39.35M. Earnings per share were $-0.47. Analysts had estimated an EPS of $-0.52.

In a different note, Morgan Stanley said it Initiates Coverage on Ionis Pharmaceuticals Inc, according to a research note issued on Aug 2, 2016. The shares have been rated ‘Equal-weight’ by the firm. On Aug 2, 2016, Barclays said it Maintains its rating on Ionis Pharmaceuticals Inc. In the research note, the firm Raises the price-target to $26.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On May 27, 2016, BMO Capital said it Downgrades its rating on Ionis Pharmaceuticals Inc. The shares have been rated ‘Market Perform’ by the firm. On May 27, 2016, Barclays said it Maintains its rating on Ionis Pharmaceuticals Inc. In the research note, the firm Lowers the price-target to $42.00 per share. The shares have been rated ‘Equalweight’ by the firm. On May 27, 2016, JP Morgan said it Maintains its rating on Ionis Pharmaceuticals Inc. In the research note, the firm Lowers the price-target to $53.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 26, 2016, Cowen & Company said it Downgrades its rating on Ionis Pharmaceuticals Inc. The shares have been rated ‘Market Perform’ by the firm.

Several Insider Transactions has been reported to the SEC. On Jun 2, 2016, Frederick T Muto (director) sold 12,500 shares at $22.31 per share price.Also, 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.

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