Ionis Pharmaceuticals, Inc. to Post Q1 2024 Earnings of ($0.84) Per Share, Leerink Partnrs Forecasts (NASDAQ:IONS)

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Leerink Partnrs dropped their Q1 2024 earnings per share estimates for Ionis Pharmaceuticals in a research report issued to clients and investors on Tuesday, April 16th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings of ($0.84) per share for the quarter, down from their previous estimate of ($0.80). The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($4.00) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals’ Q2 2024 earnings at ($0.82) EPS, Q3 2024 earnings at ($0.89) EPS, Q4 2024 earnings at ($0.96) EPS, FY2025 earnings at ($2.17) EPS and FY2028 earnings at $1.01 EPS.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.72. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The business had revenue of $325.00 million for the quarter, compared to analysts’ expectations of $176.01 million. During the same quarter in the previous year, the firm earned ($0.37) earnings per share. The business’s revenue was up 113.8% on a year-over-year basis.

Several other research analysts have also recently weighed in on IONS. Bank of America raised Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $62.00 in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. boosted their target price on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. Finally, StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $56.08.

Ionis Pharmaceuticals Stock Down 0.3 %

IONS stock opened at $40.68 on Thursday. The stock’s fifty day simple moving average is $43.86 and its two-hundred day simple moving average is $47.28. The company has a current ratio of 5.90, a quick ratio of 5.83 and a debt-to-equity ratio of 3.18. Ionis Pharmaceuticals has a 1-year low of $34.32 and a 1-year high of $54.44. The stock has a market cap of $5.93 billion, a P/E ratio of -15.89 and a beta of 0.39.

Insider Activity at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 23,501 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $49.37, for a total value of $1,160,244.37. Following the transaction, the chief executive officer now directly owns 174,138 shares in the company, valued at approximately $8,597,193.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ionis Pharmaceuticals news, EVP Patrick R. O’neil sold 6,450 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $51.75, for a total value of $333,787.50. Following the sale, the executive vice president now owns 46,802 shares of the company’s stock, valued at approximately $2,422,003.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brett P. Monia sold 23,501 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $49.37, for a total value of $1,160,244.37. Following the completion of the sale, the chief executive officer now directly owns 174,138 shares in the company, valued at approximately $8,597,193.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,434 shares of company stock worth $2,556,127. 2.65% of the stock is owned by company insiders.

Institutional Trading of Ionis Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Pingora Partners LLC bought a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $25,000. GAMMA Investing LLC bought a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $26,000. Mather Group LLC. bought a new position in shares of Ionis Pharmaceuticals during the 1st quarter valued at about $29,000. Tennessee Valley Asset Management Partners bought a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $34,000. Finally, Peoples Bank KS bought a new position in shares of Ionis Pharmaceuticals during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

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.