Equities analysts expect that Ionis Pharmaceuticals Inc (NASDAQ:IONS) will announce $133.35 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Ionis Pharmaceuticals’ earnings. The highest sales estimate is $141.50 million and the lowest is $125.20 million. Ionis Pharmaceuticals reported sales of $120.91 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The company is expected to announce its next quarterly earnings results on Tuesday, November 6th.
On average, analysts expect that Ionis Pharmaceuticals will report full-year sales of $580.97 million for the current financial year, with estimates ranging from $533.50 million to $661.00 million. For the next year, analysts anticipate that the business will post sales of $819.81 million per share, with estimates ranging from $482.23 million to $1.26 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Ionis Pharmaceuticals.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.20). The business had revenue of $117.75 million during the quarter, compared to analyst estimates of $128.22 million. Ionis Pharmaceuticals had a negative net margin of 7.20% and a negative return on equity of 1.22%.
Several equities research analysts recently weighed in on IONS shares. Morgan Stanley cut their price target on shares of Ionis Pharmaceuticals to $52.00 and set an “equal weight” rating for the company in a research note on Monday, May 7th. Stifel Nicolaus cut their price target on shares of Ionis Pharmaceuticals from $55.00 to $48.00 and set a “hold” rating for the company in a research note on Tuesday, August 7th. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 17th. ValuEngine raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Finally, BMO Capital Markets raised their price objective on shares of Ionis Pharmaceuticals from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, April 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $52.78.
Shares of NASDAQ IONS traded down $0.58 during mid-day trading on Thursday, hitting $50.84. The company had a trading volume of 712,600 shares, compared to its average volume of 1,095,845. The company has a debt-to-equity ratio of 0.76, a quick ratio of 8.34 and a current ratio of 8.38. Ionis Pharmaceuticals has a 12 month low of $39.07 and a 12 month high of $65.51. The stock has a market cap of $6.69 billion, a PE ratio of 635.50 and a beta of 2.66.
In other Ionis Pharmaceuticals news, Director Spencer R. Berthelsen sold 15,000 shares of Ionis Pharmaceuticals stock in a transaction on Monday, June 25th. The shares were sold at an average price of $42.30, for a total transaction of $634,500.00. Following the completion of the sale, the director now owns 97,127 shares of the company’s stock, valued at approximately $4,108,472.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP C Frank Bennett sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the sale, the senior vice president now directly owns 19,409 shares of the company’s stock, valued at approximately $873,405. The disclosure for this sale can be found here. In the last three months, insiders sold 42,656 shares of company stock valued at $1,901,087. 2.44% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Motley Fool Asset Management LLC boosted its position in shares of Ionis Pharmaceuticals by 9.6% during the first quarter. Motley Fool Asset Management LLC now owns 284,100 shares of the company’s stock worth $12,523,000 after purchasing an additional 25,000 shares in the last quarter. Scout Investments Inc. boosted its position in shares of Ionis Pharmaceuticals by 12.0% during the second quarter. Scout Investments Inc. now owns 369,318 shares of the company’s stock worth $15,389,000 after purchasing an additional 39,498 shares in the last quarter. Eaton Vance Management bought a new position in shares of Ionis Pharmaceuticals during the first quarter worth $353,000. Bellevue Group AG boosted its position in shares of Ionis Pharmaceuticals by 3.3% during the second quarter. Bellevue Group AG now owns 322,586 shares of the company’s stock worth $13,442,000 after purchasing an additional 10,400 shares in the last quarter. Finally, Sicart Associates LLC boosted its position in shares of Ionis Pharmaceuticals by 51.1% during the second quarter. Sicart Associates LLC now owns 523,894 shares of the company’s stock worth $21,831,000 after purchasing an additional 177,082 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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