Ionis Pharmaceuticals Inc (NASDAQ:IONS) – Analysts at Piper Jaffray Companies dropped their Q2 2019 earnings estimates for Ionis Pharmaceuticals in a report issued on Sunday, November 4th. Piper Jaffray Companies analyst T. Van. Buren now expects that the company will post earnings of $0.00 per share for the quarter, down from their previous forecast of $0.05. Piper Jaffray Companies has a “Hold” rating and a $50.00 price target on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q3 2019 earnings at $0.10 EPS, Q4 2019 earnings at $0.35 EPS, FY2020 earnings at $1.50 EPS and FY2022 earnings at $4.90 EPS.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Tuesday, August 7th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). Ionis Pharmaceuticals had a negative net margin of 7.20% and a negative return on equity of 1.22%. The company had revenue of $117.75 million for the quarter, compared to analyst estimates of $128.22 million.
IONS has been the topic of several other research reports. ValuEngine upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Morgan Stanley dropped their price objective on shares of Ionis Pharmaceuticals from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 28th. Stifel Nicolaus upped their price objective on shares of Ionis Pharmaceuticals from $45.00 to $48.00 and gave the company a “hold” rating in a report on Tuesday, September 25th. Finally, Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a report on Tuesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Ionis Pharmaceuticals has an average rating of “Hold” and an average target price of $53.86.
Shares of NASDAQ IONS opened at $51.52 on Tuesday. Ionis Pharmaceuticals has a 1-year low of $39.07 and a 1-year high of $57.92. The stock has a market cap of $7.10 billion, a PE ratio of 644.00 and a beta of 2.39. The company has a current ratio of 8.38, a quick ratio of 8.34 and a debt-to-equity ratio of 0.76.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. United Services Automobile Association raised its holdings in shares of Ionis Pharmaceuticals by 5.9% in the 2nd quarter. United Services Automobile Association now owns 20,290 shares of the company’s stock worth $845,000 after acquiring an additional 1,125 shares during the last quarter. BTG Pactual Global Asset Management Ltd raised its holdings in shares of Ionis Pharmaceuticals by 4.3% in the 2nd quarter. BTG Pactual Global Asset Management Ltd now owns 29,898 shares of the company’s stock worth $1,246,000 after acquiring an additional 1,236 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Ionis Pharmaceuticals by 7.3% in the 2nd quarter. Bank of Montreal Can now owns 18,950 shares of the company’s stock worth $789,000 after acquiring an additional 1,288 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ionis Pharmaceuticals by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 38,277 shares of the company’s stock worth $1,687,000 after acquiring an additional 1,479 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Ionis Pharmaceuticals by 2.9% in the 1st quarter. Legal & General Group Plc now owns 68,452 shares of the company’s stock worth $3,017,000 after acquiring an additional 1,925 shares during the last quarter. Institutional investors own 86.35% of the company’s stock.
In related news, COO Brett P. Monia sold 16,493 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $54.00, for a total value of $890,622.00. Following the sale, the chief operating officer now owns 24,834 shares in the company, valued at approximately $1,341,036. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP C Frank Bennett sold 12,500 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $49.54, for a total transaction of $619,250.00. Following the completion of the sale, the senior vice president now owns 31,896 shares in the company, valued at approximately $1,580,127.84. The disclosure for this sale can be found here. Insiders sold a total of 41,493 shares of company stock worth $2,072,372 in the last 90 days. 2.44% of the stock is currently owned by company insiders.
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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