$132.40 Million in Sales Expected for Ionis Pharmaceuticals Inc (IONS) This Quarter

Wall Street brokerages expect Ionis Pharmaceuticals Inc (NASDAQ:IONS) to post $132.40 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Ionis Pharmaceuticals’ earnings. The highest sales estimate is $141.50 million and the lowest is $124.70 million. Ionis Pharmaceuticals posted sales of $120.91 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The firm is expected to report its next earnings results on Tuesday, November 6th.

On average, analysts expect that Ionis Pharmaceuticals will report full year sales of $573.35 million for the current financial year, with estimates ranging from $529.30 million to $661.00 million. For the next financial year, analysts anticipate that the business will post sales of $790.84 million, with estimates ranging from $465.63 million to $1.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The firm had revenue of $117.75 million for the quarter, compared to analyst estimates of $128.22 million. Ionis Pharmaceuticals had a negative net margin of 7.20% and a negative return on equity of 1.22%.

A number of analysts recently issued reports on the company. Morgan Stanley set a $45.00 price objective on Ionis Pharmaceuticals and gave the company a “hold” rating in a research report on Wednesday, October 3rd. Stifel Nicolaus raised their target price on Ionis Pharmaceuticals from $45.00 to $48.00 and gave the company a “hold” rating in a report on Tuesday, September 25th. Piper Jaffray Companies set a $50.00 target price on Ionis Pharmaceuticals and gave the company a “hold” rating in a report on Monday, September 24th. ValuEngine upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Finally, Zacks Investment Research lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Ionis Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $55.13.

In other Ionis Pharmaceuticals news, SVP C Frank Bennett sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the transaction, the senior vice president now directly owns 19,409 shares in the company, valued at $873,405. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Brett P. Monia sold 16,493 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $54.00, for a total value of $890,622.00. Following the completion of the transaction, the chief operating officer now owns 24,834 shares in the company, valued at $1,341,036. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,149 shares of company stock worth $1,460,459. Corporate insiders own 2.44% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd increased its stake in shares of Ionis Pharmaceuticals by 255.8% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,498 shares of the company’s stock worth $110,000 after purchasing an additional 1,796 shares during the period. Clarus Wealth Advisors increased its stake in Ionis Pharmaceuticals by 200.0% during the third quarter. Clarus Wealth Advisors now owns 3,600 shares of the company’s stock valued at $186,000 after acquiring an additional 2,400 shares during the period. Rockefeller Capital Management L.P. bought a new position in Ionis Pharmaceuticals during the second quarter valued at about $156,000. TLP Group LLC increased its stake in Ionis Pharmaceuticals by 5,220.0% during the first quarter. TLP Group LLC now owns 4,522 shares of the company’s stock valued at $199,000 after acquiring an additional 4,437 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Ionis Pharmaceuticals during the second quarter valued at about $212,000. Institutional investors and hedge funds own 85.55% of the company’s stock.

IONS traded up $1.63 during trading on Friday, reaching $45.00. 911,740 shares of the stock traded hands, compared to its average volume of 1,146,997. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 562.50 and a beta of 2.43. Ionis Pharmaceuticals has a fifty-two week low of $39.07 and a fifty-two week high of $65.51. The company has a current ratio of 8.38, a quick ratio of 8.34 and a debt-to-equity ratio of 0.76.

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.

Read More: How to interpret a stock’s beta number

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.

Leave a Reply