Equities analysts predict that Ionis Pharmaceuticals Inc (NASDAQ:IONS) will report $286.31 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Ionis Pharmaceuticals’ earnings, with estimates ranging from $230.30 million to $332.40 million. Ionis Pharmaceuticals posted sales of $144.42 million during the same quarter last year, which suggests a positive year-over-year growth rate of 98.2%. The company is scheduled to announce its next earnings report on Friday, May 3rd.
According to Zacks, analysts expect that Ionis Pharmaceuticals will report full year sales of $760.52 million for the current year, with estimates ranging from $727.87 million to $822.00 million. For the next financial year, analysts anticipate that the firm will report sales of $912.73 million, with estimates ranging from $595.60 million to $1.74 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Ionis Pharmaceuticals.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, February 27th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $2.20. The business had revenue of $192.00 million during the quarter, compared to the consensus estimate of $159.59 million. Ionis Pharmaceuticals had a net margin of 45.64% and a return on equity of 41.89%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) EPS.
A number of equities analysts recently weighed in on the stock. ValuEngine raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Piper Jaffray Companies set a $75.00 price objective on shares of Ionis Pharmaceuticals and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Morgan Stanley set a $71.00 price objective on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets increased their price objective on shares of Ionis Pharmaceuticals from $70.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Ionis Pharmaceuticals presently has an average rating of “Hold” and an average price target of $66.33.
In other Ionis Pharmaceuticals news, SVP C Frank Bennett sold 9,013 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $58.29, for a total value of $525,367.77. Following the completion of the transaction, the senior vice president now owns 33,541 shares of the company’s stock, valued at approximately $1,955,104.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patrick R. O’neil sold 19,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $59.25, for a total transaction of $1,161,300.00. Following the completion of the transaction, the senior vice president now directly owns 23,673 shares of the company’s stock, valued at approximately $1,402,625.25. The disclosure for this sale can be found here. Insiders sold a total of 339,205 shares of company stock valued at $24,034,607 in the last three months. 2.44% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Huntington National Bank boosted its position in Ionis Pharmaceuticals by 159.3% in the 4th quarter. Huntington National Bank now owns 638 shares of the company’s stock valued at $34,000 after buying an additional 392 shares during the period. Essex Savings Bank purchased a new position in Ionis Pharmaceuticals in the 4th quarter valued at approximately $39,000. Laurel Wealth Advisors LLC purchased a new position in Ionis Pharmaceuticals in the 4th quarter valued at approximately $43,000. Daiwa Securities Group Inc. boosted its position in Ionis Pharmaceuticals by 29.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 890 shares of the company’s stock valued at $48,000 after buying an additional 200 shares during the period. Finally, Portfolio Solutions LLC purchased a new position in Ionis Pharmaceuticals in the 4th quarter valued at approximately $54,000. 85.05% of the stock is owned by institutional investors.
Shares of NASDAQ:IONS traded down $1.86 during mid-day trading on Thursday, reaching $83.76. 799,498 shares of the company were exchanged, compared to its average volume of 1,032,840. The company has a debt-to-equity ratio of 0.53, a quick ratio of 7.85 and a current ratio of 7.88. The stock has a market capitalization of $11.85 billion, a P/E ratio of 28.30 and a beta of 2.42. Ionis Pharmaceuticals has a 1 year low of $39.07 and a 1 year high of $86.58.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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