Analysts expect Ionis Pharmaceuticals Inc (NASDAQ:IONS) to report sales of $150.25 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Ionis Pharmaceuticals’ earnings, with estimates ranging from $133.80 million to $181.50 million. Ionis Pharmaceuticals reported sales of $145.40 million in the same quarter last year, which indicates a positive year over year growth rate of 3.3%. The company is expected to report its next earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Ionis Pharmaceuticals will report full-year sales of $798.18 million for the current year, with estimates ranging from $738.15 million to $934.00 million. For the next financial year, analysts expect that the firm will report sales of $951.62 million, with estimates ranging from $641.54 million to $1.81 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Ionis Pharmaceuticals.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.26. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 38.70%. The firm had revenue of $164.00 million during the quarter, compared to the consensus estimate of $145.31 million. During the same period in the previous year, the firm posted ($0.29) earnings per share. The business’s revenue was up 39.0% compared to the same quarter last year.
Several equities research analysts have recently commented on IONS shares. BidaskClub raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday. Sanford C. Bernstein raised shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Tuesday, September 10th. BMO Capital Markets decreased their target price on shares of Ionis Pharmaceuticals from $96.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Wells Fargo & Co boosted their target price on shares of Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, ValuEngine downgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $75.40.
Shares of NASDAQ:IONS traded up $0.64 during midday trading on Friday, hitting $62.74. 810,264 shares of the company’s stock were exchanged, compared to its average volume of 986,185. The company has a debt-to-equity ratio of 0.45, a current ratio of 10.01 and a quick ratio of 9.93. The stock has a 50 day moving average price of $62.64 and a 200-day moving average price of $67.89. The company has a market cap of $8.25 billion, a PE ratio of 21.20 and a beta of 1.95. Ionis Pharmaceuticals has a 12 month low of $43.27 and a 12 month high of $86.58.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 22,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $71.52, for a total value of $1,573,440.00. Following the completion of the sale, the chairman now directly owns 79,634 shares of the company’s stock, valued at approximately $5,695,423.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stanley T. Crooke sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 79,634 shares of the company’s stock, valued at $5,594,288.50. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IONS. Whittier Trust Co. boosted its stake in Ionis Pharmaceuticals by 283.0% in the second quarter. Whittier Trust Co. now owns 383 shares of the company’s stock valued at $25,000 after acquiring an additional 283 shares during the last quarter. CWM LLC boosted its stake in Ionis Pharmaceuticals by 361.4% in the second quarter. CWM LLC now owns 406 shares of the company’s stock valued at $26,000 after acquiring an additional 318 shares during the last quarter. Ellis Investment Partners LLC purchased a new position in Ionis Pharmaceuticals in the second quarter valued at about $32,000. Rehmann Capital Advisory Group boosted its stake in Ionis Pharmaceuticals by 41.3% in the second quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock valued at $38,000 after acquiring an additional 173 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in Ionis Pharmaceuticals by 38.5% in the second quarter. Advisory Services Network LLC now owns 907 shares of the company’s stock valued at $58,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 89.05% 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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