Ionis Pharmaceuticals' Earnings Results Fuel Volatility

Ionis Pharmaceuticals' Earnings Results Fuel Volatility

Ionis Pharmaceuticals (NASDAQ: IONS) reported third-quarter financials that were better than hoped on Tuesday, but the worry of slowing U.S. sales of Spinraza, a rare disease drug that's licensed to Biogen (NASDAQ: BIIB), caused a short-term tumble in its share price. Investors used the sell-off as an opportunity to buy. Should you, too?

Ionis Pharmaceuticals sales grew 9% year over year to $120.9 million, and that outpaced industry analyst estimates by $4 million; however, third-quarter earnings per share of $0.00 missed Wall Street forecasts by a penny. Sales through the first nine months of 2017 totaled $335.4 million, up from $186.3 million last year.

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Source: Fool.com