Equities research analysts forecast that Ionis Pharmaceuticals Inc (NASDAQ:IONS) will announce $407.23 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Ionis Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $384.20 million and the highest estimate coming in at $427.73 million. Ionis Pharmaceuticals posted sales of $192.11 million during the same quarter last year, which indicates a positive year over year growth rate of 112%. The firm is expected to issue its next earnings results on Wednesday, February 26th.
On average, analysts expect that Ionis Pharmaceuticals will report full year sales of $1.04 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.06 billion. For the next fiscal year, analysts forecast that the firm will post sales of $797.61 million, with estimates ranging from $647.21 million to $870.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Ionis Pharmaceuticals.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.49. The company had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. Ionis Pharmaceuticals had a net margin of 52.26% and a return on equity of 36.31%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share.
Several research firms recently commented on IONS. Sanford C. Bernstein upgraded shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Tuesday, September 10th. William Blair began coverage on shares of Ionis Pharmaceuticals in a research note on Thursday, November 14th. They issued a “market perform” rating on the stock. Oppenheimer began coverage on shares of Ionis Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $77.00 price target on the stock. Cantor Fitzgerald set a $65.00 price target on shares of Ionis Pharmaceuticals and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, Cowen restated a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $75.67.
In other Ionis Pharmaceuticals news, SVP Richard S. Geary sold 10,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $64.61, for a total transaction of $646,100.00. Also, Director Joseph Klein III sold 812 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $62.90, for a total transaction of $51,074.80. Following the sale, the director now owns 12,683 shares in the company, valued at $797,760.70. The disclosure for this sale can be found here. Insiders have sold 38,154 shares of company stock worth $2,397,122 over the last quarter. Corporate insiders own 2.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in IONS. CWM LLC boosted its stake in shares of Ionis Pharmaceuticals by 361.4% in the 2nd quarter. CWM LLC now owns 406 shares of the company’s stock valued at $26,000 after purchasing an additional 318 shares in the last quarter. Quest Capital Management Inc. ADV acquired a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at approximately $36,000. Rehmann Capital Advisory Group boosted its stake in shares of Ionis Pharmaceuticals by 41.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock valued at $38,000 after purchasing an additional 173 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at approximately $40,000. Finally, Bradley Foster & Sargent Inc. CT acquired a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.
IONS stock opened at $63.05 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.31 and a current ratio of 10.39. The company’s 50-day simple moving average is $59.55 and its 200 day simple moving average is $62.84. Ionis Pharmaceuticals has a 52 week low of $48.27 and a 52 week high of $86.58. The company has a market capitalization of $8.68 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.22 and a beta of 1.91.
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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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