Ionis Pharmaceuticals Inc (IONS) Expected to Announce Quarterly Sales of $280.55 Million

Wall Street brokerages expect that Ionis Pharmaceuticals Inc (NASDAQ:IONS) will post sales of $280.55 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Ionis Pharmaceuticals’ earnings, with estimates ranging from $230.30 million to $332.40 million. Ionis Pharmaceuticals posted sales of $144.42 million in the same quarter last year, which would indicate a positive year over year growth rate of 94.3%. The company is expected to announce its next earnings results on Friday, May 3rd.

On average, analysts expect that Ionis Pharmaceuticals will report full-year sales of $759.15 million for the current financial year, with estimates ranging from $727.87 million to $822.00 million. For the next year, analysts anticipate that the company will report sales of $904.67 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 sell-side research analysts that that provide coverage for Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, February 27th. The company reported $2.21 earnings per share for the quarter, topping the 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 return on equity of 41.89% and a net margin of 45.64%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share.

Several equities research analysts have weighed in on IONS shares. Morgan Stanley set a $71.00 price target on Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Friday, March 1st. Leerink Swann started coverage on Ionis Pharmaceuticals in a report on Tuesday, November 27th. They issued a “market perform” rating and a $50.00 price target for the company. Piper Jaffray Companies set a $63.00 price target on Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Friday, March 1st. Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Wednesday, January 2nd. Finally, BMO Capital Markets lifted their target price on Ionis Pharmaceuticals from $70.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $60.57.

In other Ionis Pharmaceuticals news, SVP Patrick R. O’neil sold 26,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $68.01, for a total value of $1,822,668.00. Following the completion of the transaction, the senior vice president now directly owns 24,373 shares of the company’s stock, valued at $1,657,607.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director B Lynne Parshall sold 8,334 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $75.00, for a total value of $625,050.00. Following the completion of the transaction, the director now directly owns 61,011 shares of the company’s stock, valued at $4,575,825. The disclosure for this sale can be found here. Insiders have sold 205,660 shares of company stock valued at $12,739,354 in the last ninety days. Corporate insiders own 2.44% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of IONS. FMR LLC grew its holdings in Ionis Pharmaceuticals by 8.7% in the 3rd quarter. FMR LLC now owns 20,463,839 shares of the company’s stock valued at $1,055,525,000 after buying an additional 1,635,782 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Ionis Pharmaceuticals by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,091,298 shares of the company’s stock valued at $572,089,000 after purchasing an additional 157,770 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Ionis Pharmaceuticals by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 11,091,298 shares of the company’s stock valued at $572,089,000 after purchasing an additional 157,770 shares during the last quarter. BB Biotech AG lifted its stake in shares of Ionis Pharmaceuticals by 0.9% in the 4th quarter. BB Biotech AG now owns 8,741,334 shares of the company’s stock valued at $472,557,000 after purchasing an additional 75,000 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Ionis Pharmaceuticals by 2.9% in the 4th quarter. BlackRock Inc. now owns 7,676,257 shares of the company’s stock valued at $414,977,000 after purchasing an additional 213,000 shares during the last quarter. Hedge funds and other institutional investors own 84.84% of the company’s stock.

Shares of NASDAQ IONS opened at $77.44 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 7.88 and a quick ratio of 7.85. The stock has a market capitalization of $10.60 billion, a price-to-earnings ratio of 26.16 and a beta of 2.40. Ionis Pharmaceuticals has a fifty-two week low of $39.07 and a fifty-two week high of $78.20.

About Ionis Pharmaceuticals

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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