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Ionis Pharmaceuticals (IONS) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

Ionis Pharmaceuticals (IONS) reported $119 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 9.2%. EPS of -$0.98 for the same period compares to -$0.87 a year ago.

The reported revenue represents a surprise of -9.51% over the Zacks Consensus Estimate of $131.51 million. With the consensus EPS estimate being -$1.10, the EPS surprise was +10.91%.

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.

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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:

  • Revenue- Commercial Revenue- Spinraza royalties: $38 million versus $48.65 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -24% change.

  • Revenue- Commercial Revenue- Tegsedi and Waylivra revenue, net: $9 million compared to the $6.93 million average estimate based on five analysts.

  • Revenue- Total commercial revenue: $59 million versus the five-analyst average estimate of $64.61 million. The reported number represents a year-over-year change of -13.2%.

  • Revenue- Research and development revenue under collaborative agreements: $60 million versus the five-analyst average estimate of $47.95 million. The reported number represents a year-over-year change of -4.8%.

  • Revenue- Commercial Revenue- Licensing and royalty revenue: $11 million versus $7.31 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a 0% change.

  • Revenue- R&D Revenue- Collaborative agreement revenue: $49 million versus $40.89 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +25.6% change.

  • Revenue- R&D Revenue- WAINUA joint development revenue: $11 million versus the three-analyst average estimate of $23.04 million.

View all Key Company Metrics for Ionis Pharmaceuticals here>>>

Shares of Ionis Pharmaceuticals have returned +0.1% over the past month versus the Zacks S&P 500 composite's -0.4% 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.

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Zacks Investment Research