Q1 2024 Earnings Forecast for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Issued By Leerink Partnrs

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Investment analysts at Leerink Partnrs lowered their Q1 2024 earnings estimates for shares of Ionis Pharmaceuticals in a research report issued on Tuesday, April 16th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings per share of ($0.84) for the quarter, down from their previous estimate of ($0.80). The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($4.00) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals’ Q2 2024 earnings at ($0.82) EPS, Q3 2024 earnings at ($0.89) EPS, Q4 2024 earnings at ($0.96) EPS, FY2025 earnings at ($2.17) EPS and FY2028 earnings at $1.01 EPS.

Several other brokerages also recently issued reports on IONS. Oppenheimer raised their price objective on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. StockNews.com raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Bank of America raised shares of Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $62.00 in a report on Tuesday, January 2nd. Wolfe Research raised shares of Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a report on Wednesday, April 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.08.

Ionis Pharmaceuticals Trading Down 0.2 %

Shares of IONS stock opened at $40.81 on Thursday. The firm has a 50 day moving average price of $44.07 and a two-hundred day moving average price of $47.30. The company has a quick ratio of 5.83, a current ratio of 5.90 and a debt-to-equity ratio of 3.18. The company has a market capitalization of $5.95 billion, a PE ratio of -15.94 and a beta of 0.39. Ionis Pharmaceuticals has a 12-month low of $34.32 and a 12-month high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.72. The firm had revenue of $325.00 million during the quarter, compared to the consensus estimate of $176.01 million. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. The business’s revenue for the quarter was up 113.8% compared to the same quarter last year. During the same period last year, the business posted ($0.37) earnings per share.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,907 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $49.56, for a total value of $94,510.92. Following the completion of the sale, the executive vice president now directly owns 34,324 shares of the company’s stock, valued at approximately $1,701,097.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Eric Swayze sold 1,907 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $49.56, for a total transaction of $94,510.92. Following the sale, the executive vice president now directly owns 34,324 shares in the company, valued at approximately $1,701,097.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total transaction of $166,649.60. Following the sale, the executive vice president now directly owns 19,631 shares in the company, valued at approximately $816,649.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,434 shares of company stock valued at $2,556,127. Corporate insiders own 2.65% of the company’s stock.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of institutional investors have recently made changes to their positions in IONS. Pingora Partners LLC bought a new position in shares of Ionis Pharmaceuticals in the 4th quarter worth $25,000. GAMMA Investing LLC bought a new position in shares of Ionis Pharmaceuticals in the 4th quarter worth $26,000. Mather Group LLC. bought a new position in shares of Ionis Pharmaceuticals during the 1st quarter valued at $29,000. Tennessee Valley Asset Management Partners bought a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at $34,000. Finally, Peoples Bank KS bought a new position in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $39,000. Institutional investors own 93.86% 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; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.