Brokerages expect Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) to post $265.93 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Ionis Pharmaceuticals’ earnings. The highest sales estimate is $276.00 million and the lowest is $256.70 million. Ionis Pharmaceuticals reported sales of $494.00 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 46.2%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, February 24th.
On average, analysts expect that Ionis Pharmaceuticals will report full year sales of $703.22 million for the current year, with estimates ranging from $689.04 million to $715.00 million. For the next financial year, analysts anticipate that the company will post sales of $765.74 million, with estimates ranging from $719.61 million to $851.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Ionis Pharmaceuticals.
A number of research firms have commented on IONS. SVB Leerink reduced their price target on Ionis Pharmaceuticals from $56.00 to $50.00 and set a “market perform” rating on the stock in a research report on Thursday, November 5th. Morgan Stanley cut their target price on Ionis Pharmaceuticals from $50.00 to $49.00 and set an “underweight” rating on the stock in a research report on Thursday, November 5th. UBS Group began coverage on Ionis Pharmaceuticals in a research report on Tuesday, December 15th. They set a “sell” rating and a $34.00 target price on the stock. Finally, Cowen upgraded Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $61.55.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 28,333 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, January 26th. The shares were sold at an average price of $63.74, for a total transaction of $1,805,945.42. Following the transaction, the chairman now directly owns 2,021 shares of the company’s stock, valued at approximately $128,818.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Stanley T. Crooke sold 39,000 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $49.78, for a total transaction of $1,941,420.00. Following the transaction, the chairman now directly owns 2,021 shares in the company, valued at $100,605.38. The disclosure for this sale can be found here. Insiders sold 228,660 shares of company stock worth $12,471,383 in the last 90 days. Corporate insiders own 2.40% of the company’s stock.
Large investors have recently modified their holdings of the stock. Eudaimonia Partners LLC purchased a new position in shares of Ionis Pharmaceuticals in the 3rd quarter worth about $173,000. Great West Life Assurance Co. Can boosted its holdings in shares of Ionis Pharmaceuticals by 4.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 52,097 shares of the company’s stock worth $2,473,000 after buying an additional 2,113 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ionis Pharmaceuticals by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,204 shares of the company’s stock worth $32,324,000 after buying an additional 64,735 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Ionis Pharmaceuticals by 531.9% during the third quarter. Squarepoint Ops LLC now owns 68,594 shares of the company’s stock valued at $3,255,000 after purchasing an additional 57,739 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Ionis Pharmaceuticals in the fourth quarter valued at approximately $26,000. 84.14% of the stock is currently owned by institutional investors.
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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.
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