-$0.51 EPS Expected for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) This Quarter

Brokerages predict that Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) will post earnings per share (EPS) of ($0.51) for the current quarter, according to Zacks. Six analysts have made estimates for Ionis Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.69) and the highest is ($0.31). Ionis Pharmaceuticals reported earnings of ($0.23) per share during the same quarter last year, which indicates a negative year over year growth rate of 121.7%. The company is scheduled to issue its next earnings results on Wednesday, August 4th.

On average, analysts expect that Ionis Pharmaceuticals will report full year earnings of ($1.70) per share for the current year, with EPS estimates ranging from ($1.94) to ($1.51). For the next year, analysts expect that the business will post earnings of ($1.45) per share, with EPS estimates ranging from ($2.30) to ($0.28). Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, May 5th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.16). The company had revenue of $112.00 million during the quarter, compared to analyst estimates of $134.93 million. Ionis Pharmaceuticals had a negative net margin of 69.63% and a negative return on equity of 41.74%. The company’s quarterly revenue was down 15.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.35) EPS.

Several brokerages have recently weighed in on IONS. SVB Leerink increased their price target on Ionis Pharmaceuticals from $36.00 to $41.00 and gave the company a “market perform” rating in a research note on Friday, May 14th. BMO Capital Markets decreased their target price on Ionis Pharmaceuticals from $90.00 to $76.00 and set an “outperform” rating for the company in a research note on Tuesday, March 23rd. UBS Group raised Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and raised their target price for the stock from $33.00 to $37.50 in a research note on Friday, May 7th. Barclays decreased their target price on Ionis Pharmaceuticals from $52.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 23rd. Finally, TheStreet cut Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Wednesday, February 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $58.05.

A number of large investors have recently made changes to their positions in IONS. ARK Investment Management LLC lifted its holdings in shares of Ionis Pharmaceuticals by 114.3% in the first quarter. ARK Investment Management LLC now owns 5,142,271 shares of the company’s stock valued at $231,197,000 after purchasing an additional 2,742,717 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ionis Pharmaceuticals by 22.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,114,967 shares of the company’s stock valued at $741,520,000 after purchasing an additional 2,382,942 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ionis Pharmaceuticals by 157.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,873,332 shares of the company’s stock valued at $105,918,000 after purchasing an additional 1,145,403 shares in the last quarter. Camber Capital Management LP bought a new position in shares of Ionis Pharmaceuticals in the first quarter valued at approximately $44,960,000. Finally, Norges Bank bought a new position in shares of Ionis Pharmaceuticals in the fourth quarter valued at approximately $42,994,000. Institutional investors and hedge funds own 86.17% of the company’s stock.

Shares of IONS stock traded up $1.29 on Thursday, hitting $38.21. The company had a trading volume of 2,579,249 shares, compared to its average volume of 1,488,690. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of -10.46 and a beta of 1.09. The company’s 50-day moving average price is $39.57. The company has a debt-to-equity ratio of 1.28, a quick ratio of 6.67 and a current ratio of 6.74. Ionis Pharmaceuticals has a twelve month low of $34.43 and a twelve month high of $64.37.

About Ionis Pharmaceuticals

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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Earnings History and Estimates for Ionis Pharmaceuticals (NASDAQ:IONS)

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