Equities Analysts Set Expectations for IONS FY2024 Earnings

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) - Analysts at Leerink Partnrs raised their FY2024 earnings estimates for Ionis Pharmaceuticals in a research note issued to investors on Wednesday, November 6th. Leerink Partnrs analyst M. Foroohar now expects that the company will earn ($3.07) per share for the year, up from their prior estimate of ($3.20). Leerink Partnrs currently has a "Strong-Buy" rating on the stock. The consensus estimate for Ionis Pharmaceuticals' current full-year earnings is ($3.69) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals' Q4 2024 earnings at ($0.69) EPS, FY2025 earnings at ($2.28) EPS, FY2026 earnings at ($2.02) EPS and FY2027 earnings at ($0.55) EPS.

A number of other brokerages have also recently commented on IONS. TD Cowen upped their target price on shares of Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. BMO Capital Markets cut shares of Ionis Pharmaceuticals from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $67.00 to $60.00 in a report on Friday, August 2nd. Royal Bank of Canada reissued an "outperform" rating and set a $70.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Jefferies Financial Group started coverage on shares of Ionis Pharmaceuticals in a report on Tuesday, July 16th. They set a "buy" rating and a $75.00 price target for the company. Finally, StockNews.com raised shares of Ionis Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.71.

Ionis Pharmaceuticals Stock Performance

Shares of NASDAQ:IONS traded down $0.31 on Monday, reaching $38.88. The company's stock had a trading volume of 825,707 shares, compared to its average volume of 1,315,860. The stock's 50-day moving average is $40.48 and its two-hundred day moving average is $42.91. Ionis Pharmaceuticals has a 52-week low of $35.95 and a 52-week high of $54.44. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 7.51. The stock has a market capitalization of $6.14 billion, a P/E ratio of -15.93 and a beta of 0.39.

Institutional Trading of Ionis Pharmaceuticals

Several large investors have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky boosted its position in Ionis Pharmaceuticals by 70.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 24,083 shares of the company's stock worth $1,044,000 after acquiring an additional 9,965 shares during the last quarter. Entropy Technologies LP acquired a new stake in Ionis Pharmaceuticals during the first quarter worth approximately $630,000. Edgestream Partners L.P. acquired a new stake in Ionis Pharmaceuticals during the first quarter worth approximately $765,000. Blair William & Co. IL boosted its position in Ionis Pharmaceuticals by 67.4% during the first quarter. Blair William & Co. IL now owns 27,838 shares of the company's stock worth $1,207,000 after acquiring an additional 11,210 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Ionis Pharmaceuticals during the first quarter worth approximately $613,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

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 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.