Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Expected to Post Quarterly Sales of $138.19 Million

Analysts expect that Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) will post sales of $138.19 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Ionis Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $117.80 million and the highest estimate coming in at $166.00 million. Ionis Pharmaceuticals posted sales of $146.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 5.3%. The business is scheduled to report its next earnings report on Wednesday, August 4th.

On average, analysts expect that Ionis Pharmaceuticals will report full year sales of $623.16 million for the current year, with estimates ranging from $606.70 million to $645.50 million. For the next financial year, analysts forecast that the firm will post sales of $698.78 million, with estimates ranging from $525.35 million to $874.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, May 5th. The company reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.16). Ionis Pharmaceuticals had a negative net margin of 69.63% and a negative return on equity of 41.74%. The business had revenue of $112.00 million during the quarter, compared to analyst estimates of $134.93 million. During the same period in the previous year, the company posted ($0.35) earnings per share. Ionis Pharmaceuticals’s revenue was down 15.8% compared to the same quarter last year.

A number of equities research analysts have weighed in on the stock. Needham & Company LLC cut their price target on shares of Ionis Pharmaceuticals from $95.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, March 23rd. TheStreet lowered shares of Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Wednesday, February 24th. UBS Group raised shares of Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their price objective for the company from $33.00 to $37.50 in a research note on Friday, May 7th. Barclays reduced their price objective on shares of Ionis Pharmaceuticals from $52.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 23rd. Finally, Royal Bank of Canada reduced their price objective on shares of Ionis Pharmaceuticals from $76.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, March 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.05.

A number of large investors have recently added to or reduced their stakes in IONS. Strs Ohio acquired a new position in Ionis Pharmaceuticals in the fourth quarter worth approximately $82,000. CWM LLC increased its holdings in Ionis Pharmaceuticals by 80.9% in the fourth quarter. CWM LLC now owns 1,118 shares of the company’s stock worth $63,000 after buying an additional 500 shares during the last quarter. Heritage Wealth Advisors increased its holdings in Ionis Pharmaceuticals by 99.7% in the fourth quarter. Heritage Wealth Advisors now owns 667 shares of the company’s stock worth $38,000 after buying an additional 333 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Ionis Pharmaceuticals by 15.7% in the fourth quarter. Victory Capital Management Inc. now owns 85,290 shares of the company’s stock worth $4,822,000 after buying an additional 11,553 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its holdings in Ionis Pharmaceuticals by 19.1% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 16,954 shares of the company’s stock worth $958,000 after buying an additional 2,719 shares during the last quarter. Hedge funds and other institutional investors own 86.17% of the company’s stock.

NASDAQ IONS traded up $1.29 on Friday, reaching $38.21. The company’s stock had a trading volume of 2,579,249 shares, compared to its average volume of 1,488,690. Ionis Pharmaceuticals has a twelve month low of $34.43 and a twelve month high of $64.37. The company has a current ratio of 6.74, a quick ratio of 6.67 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $5.39 billion, a PE ratio of -10.46 and a beta of 1.09. The business has a 50 day moving average price of $39.57.

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; TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

See Also: Short Selling – Explanation For Shorting Stocks

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)

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