Ionis Pharmaceuticals (IONS) Set to Announce Earnings on Wednesday

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) will be issuing its quarterly earnings data before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of ($1.16) per share for the quarter. Ionis Pharmaceuticals has set its FY 2024 guidance at EPS.Parties that are interested in registering for the company's conference call can do so using this link.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.47. The business had revenue of $225.00 million during the quarter, compared to the consensus estimate of $152.35 million. Ionis Pharmaceuticals had a negative net margin of 44.90% and a negative return on equity of 115.66%. The firm's quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, analysts expect Ionis Pharmaceuticals to post $-4 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Ionis Pharmaceuticals Trading Up 0.5 %

Shares of NASDAQ:IONS traded up $0.21 during mid-day trading on Wednesday, hitting $39.92. The stock had a trading volume of 97,476 shares, compared to its average volume of 1,321,585. The company has a debt-to-equity ratio of 4.67, a quick ratio of 7.51 and a current ratio of 7.61. The company has a market cap of $5.83 billion, a PE ratio of -14.87 and a beta of 0.38. Ionis Pharmaceuticals has a 12-month low of $35.95 and a 12-month high of $54.44. The company's 50 day moving average is $42.14 and its 200-day moving average is $43.07.

Insider Activity at Ionis Pharmaceuticals

In related news, EVP Richard S. Geary sold 2,430 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 85,508 shares in the company, valued at approximately $4,104,384. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have sold 2,803 shares of company stock worth $134,402. 2.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on IONS. Guggenheim reduced their price target on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. StockNews.com downgraded shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. Needham & Company LLC restated a "buy" rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Finally, Jefferies Financial Group started coverage on shares of Ionis Pharmaceuticals in a research note on Tuesday, July 16th. They issued a "buy" rating and a $75.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.28.

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.