Leerink Partnrs Issues Positive Estimate for IONS Earnings

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) - Leerink Partnrs increased their Q3 2024 earnings estimates for shares of Ionis Pharmaceuticals in a note issued to investors on Monday, October 14th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will earn ($0.91) per share for the quarter, up from their prior forecast of ($0.92). Leerink Partnrs currently has a "Strong-Buy" rating on the stock. The consensus estimate for Ionis Pharmaceuticals' current full-year earnings is ($3.68) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals' Q4 2024 earnings at ($0.55) EPS, FY2024 earnings at ($2.89) EPS, FY2025 earnings at ($2.42) EPS, FY2026 earnings at ($2.04) EPS, FY2027 earnings at $0.53 EPS and FY2028 earnings at $1.88 EPS.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.47. Ionis Pharmaceuticals had a negative net margin of 44.90% and a negative return on equity of 115.66%. The business had revenue of $225.00 million for the quarter, compared to analysts' expectations of $152.35 million. During the same quarter last year, the firm earned $0.60 EPS. The firm's revenue for the quarter was up 19.7% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the stock. Bank of America lifted their target price on shares of Ionis Pharmaceuticals from $67.00 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Stifel Nicolaus lifted their target price on shares of Ionis Pharmaceuticals from $50.00 to $53.00 and gave the stock a "hold" rating in a research report on Thursday, June 27th. Leerink Partners raised shares of Ionis Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $53.00 to $62.00 in a research report on Wednesday, July 24th. Needham & Company LLC reissued a "buy" rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $60.28.

Ionis Pharmaceuticals Stock Down 1.7 %

NASDAQ IONS traded down $0.67 during trading hours on Thursday, hitting $38.49. The company's stock had a trading volume of 1,885,676 shares, compared to its average volume of 1,335,498. Ionis Pharmaceuticals has a 52 week low of $35.95 and a 52 week high of $54.44. The company's 50-day simple moving average is $43.37 and its two-hundred day simple moving average is $43.27. The company has a current ratio of 7.61, a quick ratio of 7.51 and a debt-to-equity ratio of 4.67. The company has a market capitalization of $5.62 billion, a PE ratio of -14.42 and a beta of 0.38.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mather Group LLC. boosted its holdings in Ionis Pharmaceuticals by 35.8% in the 2nd quarter. Mather Group LLC. now owns 911 shares of the company's stock valued at $39,000 after purchasing an additional 240 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Ionis Pharmaceuticals by 3.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,624 shares of the company's stock valued at $363,000 after purchasing an additional 261 shares during the period. GAMMA Investing LLC boosted its holdings in Ionis Pharmaceuticals by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company's stock valued at $27,000 after purchasing an additional 303 shares during the period. Bleakley Financial Group LLC boosted its holdings in Ionis Pharmaceuticals by 2.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 16,678 shares of the company's stock valued at $668,000 after purchasing an additional 338 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in Ionis Pharmaceuticals by 1.6% in the 2nd quarter. Natixis Advisors LLC now owns 23,404 shares of the company's stock valued at $1,115,000 after purchasing an additional 376 shares during the period. 93.86% of the stock is owned by institutional investors.

Insider Activity at Ionis Pharmaceuticals

In related news, EVP Richard S. Geary sold 2,430 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $48.00, for a total value of $116,640.00. Following the completion of the transaction, the executive vice president now directly owns 85,508 shares in the company, valued at approximately $4,104,384. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 2,803 shares of company stock worth $134,402. Corporate insiders own 2.71% 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.