Ionis Pharmaceuticals (IONS) to Release Quarterly Earnings on Wednesday

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

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $225.00 million for the quarter, compared to the consensus estimate of $152.35 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. The business's revenue was up 19.7% compared to the same quarter last year. 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 Price Performance

Shares of IONS traded down $0.45 during mid-day trading on Wednesday, reaching $39.26. The company had a trading volume of 748,661 shares, compared to its average volume of 1,324,686. The company's 50-day moving average is $42.14 and its 200-day moving average is $43.07. Ionis Pharmaceuticals has a twelve month low of $35.95 and a twelve month high of $54.44. The company has a market capitalization of $5.73 billion, a P/E ratio of -14.70 and a beta of 0.38. The company has a debt-to-equity ratio of 4.67, a current ratio of 7.61 and a quick ratio of 7.51.

Wall Street Analyst Weigh In

IONS has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on Ionis Pharmaceuticals in a research report on Tuesday, July 16th. They issued a "buy" rating and a $75.00 price target on the stock. BMO Capital Markets downgraded Ionis Pharmaceuticals from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $67.00 to $60.00 in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, August 26th. Finally, TD Cowen upped their price objective on shares of Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $60.28.

Insider Activity

In other news, EVP Richard S. Geary sold 2,430 shares of the company'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 owns 85,508 shares of the company's stock, valued at approximately $4,104,384. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 2,803 shares of company stock valued at $134,402 over the last quarter. Company 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.