Leerink Partnrs Has Pessimistic View of IONS FY2024 Earnings

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Leerink Partnrs lowered their FY2024 earnings per share (EPS) estimates for Ionis Pharmaceuticals in a research report issued on Tuesday, January 21st. Leerink Partnrs analyst M. Foroohar now expects that the company will earn ($3.53) per share for the year, down from their previous forecast of ($3.51). The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($3.47) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals’ Q4 2024 earnings at ($1.12) EPS, FY2025 earnings at ($2.34) EPS, FY2027 earnings at ($0.85) EPS, FY2028 earnings at $0.51 EPS and FY2029 earnings at $2.30 EPS.

Several other research firms also recently weighed in on IONS. Wells Fargo & Company dropped their target price on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. Guggenheim reduced their target price on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Piper Sandler decreased their target price on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, five have assigned 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.65.

Ionis Pharmaceuticals Trading Down 0.6 %

Shares of IONS opened at $32.50 on Thursday. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82. Ionis Pharmaceuticals has a 1-year low of $31.40 and a 1-year high of $52.49. The business’s 50-day moving average price is $35.28 and its 200 day moving average price is $40.86.

Insider Activity at Ionis Pharmaceuticals

In related news, CFO Elizabeth L. Hougen sold 8,870 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $32.81, for a total value of $291,024.70. Following the transaction, the chief financial officer now directly owns 107,885 shares of the company’s stock, valued at approximately $3,539,706.85. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett P. Monia sold 33,445 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $32.63, for a total value of $1,091,310.35. Following the sale, the chief executive officer now directly owns 207,396 shares of the company’s stock, valued at $6,767,331.48. The trade was a 13.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,293 shares of company stock valued at $1,914,820. Insiders own 2.71% of the company’s stock.

Institutional Trading of Ionis Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Ionis Pharmaceuticals by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after acquiring an additional 303 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at about $40,000. Prospera Private Wealth LLC bought a new position in shares of Ionis Pharmaceuticals in the third quarter worth about $42,000. Itau Unibanco Holding S.A. lifted its position in shares of Ionis Pharmaceuticals by 40.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company’s stock worth $43,000 after purchasing an additional 314 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Ionis Pharmaceuticals during the 3rd quarter valued at approximately $51,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

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.