Ionis Pharmaceuticals, Inc. (IONS) Expected to Post Earnings of -$0.20 Per Share

Wall Street brokerages expect Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) to post earnings of ($0.20) per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Ionis Pharmaceuticals’ earnings, with the highest EPS estimate coming in at $0.19 and the lowest estimate coming in at ($0.57). Ionis Pharmaceuticals posted earnings per share of ($0.47) in the same quarter last year, which would suggest a positive year-over-year growth rate of 57.4%. The company is expected to report its next earnings results on Tuesday, August 8th.

On average, analysts expect that Ionis Pharmaceuticals will report full-year earnings of ($0.27) per share for the current fiscal year, with EPS estimates ranging from ($0.96) to $0.60. For the next year, analysts forecast that the business will post earnings of ($0.13) per share, with EPS estimates ranging from ($2.28) to $2.94. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.13. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. The business had revenue of $110.30 million during the quarter, compared to analyst estimates of $86.03 million. During the same quarter last year, the business earned ($0.52) earnings per share. Ionis Pharmaceuticals’s quarterly revenue was up 199.2% compared to the same quarter last year.

Several research firms have commented on IONS. BMO Capital Markets restated a “buy” rating and issued a $59.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, June 2nd. Cowen and Company restated a “market perform” rating on shares of Ionis Pharmaceuticals in a report on Monday, May 22nd. Leerink Swann restated an “outperform” rating and issued a $45.00 price target (down previously from $47.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Finally, Piper Jaffray Companies set a $51.00 price target on Ionis Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, May 10th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $43.97.

ILLEGAL ACTIVITY WARNING: “Ionis Pharmaceuticals, Inc. (IONS) Expected to Post Earnings of -$0.20 Per Share” was first published by sleekmoney and is the property of of sleekmoney. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://sleekmoney.com/ionis-pharmaceuticals-inc-ions-expected-to-post-earnings-of-0-20-per-share/1941835.html.

In related news, Chairman Stanley T. Crooke sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $43.25, for a total transaction of $237,875.00. Following the transaction, the chairman now directly owns 43,014 shares of the company’s stock, valued at approximately $1,860,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Stanley T. Crooke sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $40.69, for a total value of $895,180.00. Following the transaction, the chairman now directly owns 48,014 shares in the company, valued at $1,953,689.66. The disclosure for this sale can be found here. Insiders have sold a total of 46,220 shares of company stock valued at $2,019,538 in the last quarter. Company insiders own 1.86% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in IONS. First Republic Investment Management Inc. raised its position in Ionis Pharmaceuticals by 27.0% in the fourth quarter. First Republic Investment Management Inc. now owns 21,871 shares of the company’s stock valued at $1,046,000 after buying an additional 4,649 shares during the period. Franklin Resources Inc. raised its position in Ionis Pharmaceuticals by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 1,076,534 shares of the company’s stock valued at $51,573,000 after buying an additional 26,820 shares during the period. GSA Capital Partners LLP bought a new position in Ionis Pharmaceuticals during the fourth quarter valued at approximately $533,000. Fred Alger Management Inc. bought a new position in Ionis Pharmaceuticals during the fourth quarter valued at approximately $287,000. Finally, Envestnet Asset Management Inc. raised its position in Ionis Pharmaceuticals by 19.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 43,376 shares of the company’s stock valued at $2,074,000 after buying an additional 6,950 shares during the period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals (IONS) traded up 0.96% during midday trading on Friday, hitting $55.50. 889,204 shares of the stock traded hands. Ionis Pharmaceuticals has a 52-week low of $20.49 and a 52-week high of $57.00. The firm’s market cap is $6.88 billion. The stock has a 50-day moving average of $47.29 and a 200 day moving average of $45.74.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.

Get a free copy of the Zacks research report on Ionis Pharmaceuticals (IONS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ionis Pharmaceuticals (NASDAQ:IONS)

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/ionis-pharmaceuticals-inc-ions-expected-to-post-earnings-of-0-20-per-share/1941835.html

Receive News & Ratings for Ionis Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *