ISIS Pharmaceuticals, Inc. (NASDAQ: ISIS)
As expected, ISIS Pharmaceuticals, Inc. reported their first quarter earnings before the open of the market today. Although the company did report a loss, the loss was more narrow than analysts expected. Today, we’ll talk about what we saw from the earnings report, how the market reacted to the news, and what we can expect to see moving forward.
ISIS Pharmaceuticals Earnings Surpass Wall St. Expectations
As mentioned above, the ISIS Pharmaceuticals earnings report was better than expected. Here’s what we saw…
- EPS – In the quarter, ISIS generated a loss of $0.14 per share. After adjustments for stock option expense, the losses mounted to $0.03 per share. The average estimate from Wall Street analysts came in at a loss of $0.19 per share.
- Top Line Revenue – ISIS Pharmaceuticals also beat expectations with regard to top line revenue. In the quarter, the company posted revenue of $62.6 million compared to the $52.3 million expected by analysts.
How ISIS Investors Reacted To The News
Unfortunately, ISIS Pharmaceuticals released their earnings report on a day where we are seeing market wide declines. However, I do think that the positivity from the earnings report has helped to lighten the blow. Nonetheless, ISIS is currently (12:57) trading at $57.86 per share after a loss of 3.02% so far today.
What To Expect Moving Forward
In both the short term and long term outlook, I’m expecting to see the same thing…gains.
- Short Term – In the short run we have to keep in mind that we are seeing market wide declines today. Market wide declines don’t tend to last long. So, we’ll most likely see a decent market wide recovery relatively soon. Banking on stronger than expected earnings, the uptrend will probably be stronger for ISIS Pharmaceuticals than the average across the board.
- Long Term – Through their earnings report, ISIS Pharmaceuticals showed a level of strength that investors simply didn’t believe they had in them; that’s a great thing for the stock. Not to mention, their recent deal with Bayer is likely to cause quite a bit of long term growth as well. All in all, I think we’re headed toward long term uptrends my friends!
What Do You Think?
Where do you think ISIS Pharmaceuticals is headed and why? Let us know in the comments below!