Brokerages Expect Ionis Pharmaceuticals Inc (NASDAQ:IONS) Will Post Earnings of -$0.26 Per Share

Analysts expect that Ionis Pharmaceuticals Inc (NASDAQ:IONS) will report earnings of ($0.26) per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Ionis Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.50) and the highest is ($0.07). Ionis Pharmaceuticals posted earnings of ($0.03) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 766.7%. The company is expected to issue its next earnings report on Tuesday, November 5th.

On average, analysts expect that Ionis Pharmaceuticals will report full-year earnings of ($0.07) per share for the current year, with EPS estimates ranging from ($0.70) to $0.24. For the next fiscal year, analysts anticipate that the business will post earnings of $0.51 per share, with EPS estimates ranging from ($1.55) to $4.50. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.26. The firm had revenue of $164.00 million during the quarter, compared to analysts’ expectations of $145.31 million. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The business’s revenue was up 39.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.29) EPS.

Several analysts have commented on IONS shares. Cantor Fitzgerald reaffirmed a “hold” rating and set a $68.00 price objective on shares of Ionis Pharmaceuticals in a research note on Wednesday, April 24th. BMO Capital Markets reduced their price objective on Ionis Pharmaceuticals from $96.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. TheStreet downgraded Ionis Pharmaceuticals from a “b-” rating to a “c” rating in a research note on Thursday, August 8th. Evercore ISI set a $76.00 price objective on Ionis Pharmaceuticals and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research downgraded Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Ionis Pharmaceuticals has an average rating of “Hold” and an average price target of $67.78.

Shares of NASDAQ IONS traded down $1.85 during trading hours on Friday, reaching $70.30. The stock had a trading volume of 2,117 shares, compared to its average volume of 1,187,611. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 23.74 and a beta of 2.07. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45. Ionis Pharmaceuticals has a fifty-two week low of $43.27 and a fifty-two week high of $86.58. The firm has a 50-day moving average of $66.47 and a 200-day moving average of $68.87.

In other news, CEO Stanley T. Crooke sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $70.25, for a total transaction of $702,500.00. Following the completion of the transaction, the chief executive officer now directly owns 79,634 shares of the company’s stock, valued at approximately $5,594,288.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Spencer R. Berthelsen sold 15,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $63.67, for a total value of $955,050.00. Following the transaction, the director now directly owns 99,404 shares of the company’s stock, valued at $6,329,052.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,210 shares of company stock valued at $2,650,844. 2.40% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. FMR LLC grew its holdings in shares of Ionis Pharmaceuticals by 0.6% in the 1st quarter. FMR LLC now owns 20,633,698 shares of the company’s stock worth $1,674,837,000 after acquiring an additional 123,948 shares during the period. Vanguard Group Inc. grew its holdings in shares of Ionis Pharmaceuticals by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 12,856,865 shares of the company’s stock worth $826,311,000 after acquiring an additional 383,350 shares during the period. BlackRock Inc. grew its holdings in shares of Ionis Pharmaceuticals by 15.5% in the 2nd quarter. BlackRock Inc. now owns 8,802,576 shares of the company’s stock worth $565,743,000 after acquiring an additional 1,181,004 shares during the period. First Trust Advisors LP grew its holdings in shares of Ionis Pharmaceuticals by 16.7% in the 1st quarter. First Trust Advisors LP now owns 2,591,839 shares of the company’s stock worth $210,380,000 after acquiring an additional 370,977 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Ionis Pharmaceuticals by 2,754.9% in the 2nd quarter. Invesco Ltd. now owns 2,271,539 shares of the company’s stock worth $145,992,000 after acquiring an additional 2,191,974 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

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

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