Ionis Pharmaceuticals (IONS) Reports Q2 Results: What Key Metrics Have to Say (Revised)
Ionis Pharmaceuticals (IONS) reported $188 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 40.3%. EPS of -$0.60 for the same period compares to -$0.74 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $136.84 million, representing a surprise of +37.39%. The company delivered an EPS surprise of +36.17%, with the consensus EPS estimate being -$0.94.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Ionis Pharmaceuticals performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Commercial Revenue- Licensing and royalty revenue: $6 million versus the seven-analyst average estimate of $6.64 million. The reported number represents a year-over-year change of -25%.
Commercial Revenue- Spinraza royalties: $61 million versus $59.52 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +1.7% change.
Commercial Revenue- Tegsedi and Waylivra revenue, net: $11 million versus $6.77 million estimated by five analysts on average.
R&D Revenue- Collaborative agreement revenue: $90 million compared to the $53.94 million average estimate based on four analysts.
Revenue- Total commercial revenue: $78 million versus the three-analyst average estimate of $74.42 million. The reported number represents a year-over-year change of 0%.
View all Key Company Metrics for Ionis Pharmaceuticals here>>>
Shares of Ionis Pharmaceuticals have returned -6.1% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued on August 9, 2023, should no longer be relied upon.)
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