LONDON, March 27, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free earnings coverage on Isis Pharmaceuticals Inc. (NASDAQ: ISIS). On February 27, 2015, the company announced its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Isis%20Pharma&d=27-Mar-2015&s=ISIS to read our free earnings review on Isis Pharmaceuticals Inc. (Isis). The company reported total revenue of $84.86 million for Q4 FY14 and $214.16 million for FY14. Chief Operating Officer at Isis, B. Lynne Parshall, stated that FY14 was another year of significant achievements for the company with successes in every aspect of its business. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Isis%20Pharma&d=27-Mar-2015&s=ISIS
Earnings Overview
During Q4 FY14, Isis' total revenue increased by $42.61 million from $42.25 million in Q4 FY13. The company's total revenue outperformed Bloomberg analysts' forecast of $74.59 million for Q4 FY14. Further, GAAP operating expenses for Q4 FY14 came in at $74.78 million compared to $62.11 million in Q4 FY13. Free research on ISIS can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Isis%20Pharma&d=27-Mar-2015&s=ISIS
For Q4 FY14, Isis' GAAP income from operations was $10.08 million compared to GAAP loss from operations of $19.86 million in Q4 FY13. The company's Q4 FY14 pro forma income from operations was $18.57 million compared to pro forma loss from operations of $16.76 million in Q4 FY13.
Isis' GAAP net income stood at $31.05 million, or $0.25 per diluted share, in Q4 FY14 compared to GAAP net loss $24.28 million, or $0.21 loss per diluted share, in Q4 FY13. Analysts from Bloomberg had expected Q4 FY14 GAAP net income of $5.90 million, or $0.04 per diluted share. Furthermore, Isis reported pro forma net income of $39.54 million in Q4 FY14 compared to pro forma net loss of $21.18 million in Q4 FY13.
In FY14, Isis' total revenue increased by $66.88 million from $147.29 million in FY13. Total revenue for FY14 outperformed Bloomberg analysts' forecast of $200.55 million. Additionally, FY14 GAAP loss from operations decreased to $47.73 million from GAAP loss from operations of $51.67 million in FY13. Sign up and read the free analyst's notes on ISIS at:
http://get.Investor-Edge.com/pdf/?c=Isis%20Pharma&d=27-Mar-2015&s=ISIS
During FY14, GAAP net loss declined to $38.98 million, or $0.33 loss per diluted share, from GAAP net loss of $60.64 million, or $0.55 loss per diluted share, in FY13. Analysts from Bloomberg had expected GAAP net loss of $65.94 million, or $0.57 loss per diluted share, in FY14. Furthermore, Isis' FY14 pro forma net loss came in at $7.60 million compared to pro forma net loss of $49.23 million in FY13.
As of December 31, 2014, Isis had cash, cash equivalents and short-term investments of $728.83 million compared to $656.76 million as of December 31, 2013. Additionally, Isis' working capital was $721.3 million as of December 31, 2014 compared to $637.7 million as of December 31, 2013.
Ms. Parshall informed that Isis took the next step in the evolution of its business strategy with the formation of its wholly owned subsidiary, Akcea Therapeutics. Visit Investor-Edge and access the latest research on ISIS at:
http://get.Investor-Edge.com/pdf/?c=Isis%20Pharma&d=27-Mar-2015&s=ISIS
For FY15, ISIS expects pro forma net operating loss in the mid $50 million range. The company also anticipates ending FY15 with more than $630 million in cash, which represents net cash outflows of only $100 million to move forward its large and growing pipeline of drugs.
Stock Performance
On the day of the earnings release, February 27, 2015, Isis' stock gained 1.83% to end the session at $68.56. Since then, the stock has moved both ways. On the last close, Thursday, March 26, 2015, the company's shares finished 1.99% lower at $61.15, after vacillating between $59.27 and $62.51. A total of 5.75 million shares were traded which was above their three months average volume of 3.23 million shares. Over the last one month and over the previous three months, the company's shares have lost 9.18% and 3.93%, respectively. However, the stock has surged 45.35% in the past one year.
Sneak Peek to Corporate Insider Trading
In the last one month, there were 44 corporate insider transactions made by five individuals. Between March 02, 2015 and March 19, 2015, a total of 132,499 shares have been purchased at an average price of $12.86 per share and for a total value of $1.70 million. During the stated period, a total of 139,514 shares, worth $10.08 million, were sold at an average price of $72.24 per share. The following are some transactions made during the aforementioned period: Elizabeth L. Hougen purchased 38,094 shares at an average price of $10.70 and disposed an equal number of shares at an average price of $72.03 per share; Patrick R. O'Neil, Senior Vice President, Legal and General Counsel at Isis, purchased 36,325 shares at an average price of $20.54 per share and disposed an equal number of shares at an average price of $74.34 per share; and Joseph H. Wender, Director at Isis, bought 25,000 shares at an average price of $7.85 per share and sold 32,000 shares at an average price of $70.30 per share. Complimentary in-depth research on ISIS is available at:
http://get.Investor-Edge.com/pdf/?c=Isis%20Pharma&d=27-Mar-2015&s=ISIS
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