Wall Street brokerages forecast that Ionis Pharmaceuticals Inc (NASDAQ:IONS) will report sales of $140.79 million for the current quarter, according to Zacks. Five analysts have provided estimates for Ionis Pharmaceuticals’ earnings, with the highest sales estimate coming in at $158.44 million and the lowest estimate coming in at $126.00 million. Ionis Pharmaceuticals posted sales of $117.75 million in the same quarter last year, which suggests a positive year-over-year growth rate of 19.6%. The company is expected to issue its next earnings results on Tuesday, August 6th.
According to Zacks, analysts expect that Ionis Pharmaceuticals will report full-year sales of $777.39 million for the current fiscal year, with estimates ranging from $715.00 million to $934.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $961.96 million, with estimates ranging from $653.96 million to $1.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ionis Pharmaceuticals.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Thursday, May 9th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.19. The company had revenue of $297.00 million for the quarter, compared to the consensus estimate of $285.43 million. Ionis Pharmaceuticals had a return on equity of 44.03% and a net margin of 47.74%. Ionis Pharmaceuticals’s quarterly revenue was up 106.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share.
Several research firms recently weighed in on IONS. Cantor Fitzgerald began coverage on Ionis Pharmaceuticals in a research report on Tuesday, April 9th. They set a “neutral” rating and a $68.00 target price on the stock. Piper Jaffray Companies set a $75.00 target price on Ionis Pharmaceuticals and gave the company a “neutral” rating in a research report on Friday, March 22nd. BMO Capital Markets lifted their target price on Ionis Pharmaceuticals to $96.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Finally, Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $68.25.
NASDAQ IONS traded down $0.51 on Friday, hitting $65.08. 16,458 shares of the company traded hands, compared to its average volume of 1,208,619. The firm has a market cap of $9.28 billion, a P/E ratio of 21.91 and a beta of 2.10. The company has a quick ratio of 9.36, a current ratio of 9.40 and a debt-to-equity ratio of 0.47. The business has a 50 day simple moving average of $64.76. Ionis Pharmaceuticals has a 52-week low of $41.25 and a 52-week high of $86.58.
In other news, Director B Lynne Parshall sold 50,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the transaction, the director now directly owns 102,677 shares in the company, valued at $7,701,801.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Stanley T. Crooke sold 32,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $84.84, for a total value of $2,714,880.00. Following the completion of the transaction, the chairman now owns 79,634 shares in the company, valued at $6,756,148.56. The disclosure for this sale can be found here. Insiders sold 120,210 shares of company stock worth $8,995,724 over the last 90 days. Company insiders own 2.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Buffington Mohr McNeal purchased a new position in shares of Ionis Pharmaceuticals in the first quarter valued at about $28,000. First Interstate Bank purchased a new stake in shares of Ionis Pharmaceuticals in the first quarter worth about $34,000. Quadrant Capital Group LLC lifted its position in shares of Ionis Pharmaceuticals by 2,839.1% in the first quarter. Quadrant Capital Group LLC now owns 676 shares of the company’s stock worth $53,000 after buying an additional 653 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in shares of Ionis Pharmaceuticals by 27.4% in the first quarter. Carroll Financial Associates Inc. now owns 762 shares of the company’s stock worth $61,000 after buying an additional 164 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Ionis Pharmaceuticals in the first quarter worth about $101,000. Institutional investors and hedge funds own 82.67% of the company’s stock.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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