Ionis Pharmaceuticals (IONS) reported $134 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 6.9%. EPS of -$0.95 for the same period compares to -$1.03 a year ago.

The reported revenue represents a surprise of +3.88% over the Zacks Consensus Estimate of $128.99 million. With the consensus EPS estimate being -$1.16, the EPS surprise was +18.10%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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:

• Revenue- Commercial Revenue- Licensing and royalty revenue: $5 million compared to the $5.51 million average estimate based on nine analysts. The reported number represents a change of -44.4% year over year.
• Revenue- Research and development revenue under collaborative agreements: $45 million compared to the $49.79 million average estimate based on eight analysts. The reported number represents a change of -25% year over year.
• Revenue- Commercial Revenue- Spinraza royalties: $57 million versus $61.92 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -14.9% change.
• Revenue- Commercial Revenue- Tegsedi and Waylivra revenue, net: $9 million compared to the $7.71 million average estimate based on eight analysts. The reported number represents a change of +12.5% year over year.
• Revenue- Total commercial revenue: $76 million compared to the $79.73 million average estimate based on eight analysts. The reported number represents a change of -9.5% year over year.
• Revenue- R&D Revenue- Collaborative agreement revenue: $45 million versus $33.69 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.3% change.
• Revenue- R&D Revenue- Amortization from upfront payments: $28 million versus $35.30 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +55.6% change.
• Revenue- R&D Revenue- WAINUA joint development revenue: $13 million versus the two-analyst average estimate of $15.75 million. The reported number represents a year-over-year change of -18.8%.

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

Shares of Ionis Pharmaceuticals have returned +2.7% over the past month versus the Zacks S&P 500 composite's +0.7% 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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