Ionis Pharmaceuticals (NASDAQ:IONS) Releases Quarterly Earnings Results, Beats Expectations By $0.57 EPS

Ionis Pharmaceuticals (NASDAQ:IONS) issued its earnings results on Monday. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.57, Zacks reports. Ionis Pharmaceuticals had a negative return on equity of 111.08% and a negative net margin of 64.76%. The business had revenue of $242.72 million during the quarter, compared to analysts’ expectations of $178.17 million. During the same period in the prior year, the firm posted ($0.80) EPS. Ionis Pharmaceuticals’s quarterly revenue was up 54.8% compared to the same quarter last year.

Here are the key takeaways from Ionis Pharmaceuticals’ conference call:

• Ionis lowered 2026 TRYNGOLZA sales guidance to approximately $50 million after a slower-than-expected launch ramp. Management cited the time needed to build a new treatment market, broaden repeat prescribing and secure payer coverage, while maintaining its view of multi-billion-dollar peak sales potential.
• DAWNZERA sales rose about 40% sequentially to $37 million in Q3, with growth in repeat prescribers and use among patients with varied treatment histories. Ionis maintained its 2026 sales guidance of $110 million to $120 million.
• Third-quarter revenue was $243 million, up 55% year over year excluding a prior-year one-time payment, and the company reiterated its 2026 revenue, operating-loss and cash outlook. Ionis ended the quarter with $1.9 billion in cash and investments.
• Following phase III setbacks for eplontersen in ATTR cardiomyopathy and pelacarsen in cardiovascular disease, Ionis shifted its expected timing for sustained positive cash flow from 2028 to 2029. Management also said the slower TRYNGOLZA launch contributed to the revised timing.
• Pipeline and product milestones included U.S. approval of ZANVASTRO, with the first commercial patients treated, and HIBSAGO approval in the U.S. and Japan. Ionis also reported positive phase III results for partnered sefaxersen in IgA nephropathy and ulefnersen in FUS-ALS.

Ionis Pharmaceuticals Stock Down 21.4%

Shares of NASDAQ IONS opened at $31.00 on Tuesday. The firm’s 50-day simple moving average is $46.20 and its 200 day simple moving average is $65.63. The company has a market cap of $5.15 billion, a price-to-earnings ratio of -8.96 and a beta of 0.43. The company has a quick ratio of 7.73, a current ratio of 7.89 and a debt-to-equity ratio of 3.07. Ionis Pharmaceuticals has a 12-month low of $27.75 and a 12-month high of $86.74.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, EVP Shannon Devers sold 1,357 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $43.54, for a total value of $59,083.78. Following the completion of the sale, the executive vice president owned 17,811 shares in the company, valued at approximately $775,490.94. This trade represents a 7.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.81% of the company’s stock.

Trending Headlines about Ionis Pharmaceuticals

Here are the key news stories impacting Ionis Pharmaceuticals this week:

• Positive Sentiment: Third-quarter revenue increased 54.8% year over year to $242.7 million, exceeding analysts’ expectations, while the $0.66-per-share loss was narrower than the $1.23 loss forecast. Read More.
• Positive Sentiment: DAWNZERA sales rose 40% to $37 million in the quarter, offering evidence of growth in another commercial product. Read More.
• Neutral Sentiment: Ionis issued 2026 total revenue guidance of $875 million to $900 million, below analysts’ $920.8 million consensus estimate; the company also reaffirmed its full-year guidance. Read More.
• Negative Sentiment: The main concern is TRYNGOLZA: Ionis cut its 2026 sales outlook to about $50 million, down from its prior $100 million–$110 million target, citing a slower launch. The sharp reduction raises doubts about the drug’s near-term commercial potential and overshadowed the earnings beat. Read More.

Analyst Ratings Changes

IONS has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price target on Ionis Pharmaceuticals from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. JPMorgan Chase & Co. dropped their price objective on Ionis Pharmaceuticals from $76.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, September 22nd. Canaccord Genuity Group cut their price objective on Ionis Pharmaceuticals from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, September 8th. Oppenheimer restated an “outperform” rating and issued a $85.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, September 24th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday. Nineteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.33.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals is a biotechnology company that discovers and develops RNA-targeted medicines, with a focus on antisense oligonucleotides. Its medicines are designed to act on RNA and change the production of proteins linked to disease. The company’s research and development programs span neurological, cardiovascular, metabolic and rare diseases.

Ionis has developed medicines that it commercializes itself and products advanced or marketed with pharmaceutical partners. Its medicines and partnered products include treatments for conditions such as spinal muscular atrophy and transthyretin amyloidosis.