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.
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.
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