Ionis Pharmaceuticals Inc (NASDAQ:IONS) – William Blair cut their Q3 2020 earnings per share estimates for shares of Ionis Pharmaceuticals in a report issued on Tuesday, October 13th. William Blair analyst M. Minter now anticipates that the company will earn ($0.17) per share for the quarter, down from their prior forecast of ($0.01). William Blair has a “Hold” rating on the stock. William Blair also issued estimates for Ionis Pharmaceuticals’ Q4 2020 earnings at $0.13 EPS, FY2020 earnings at ($0.67) EPS, Q1 2021 earnings at $0.10 EPS, Q2 2021 earnings at ($0.41) EPS, Q3 2021 earnings at ($0.30) EPS, Q4 2021 earnings at ($0.23) EPS, FY2021 earnings at ($0.85) EPS, FY2022 earnings at ($0.42) EPS, FY2023 earnings at $0.55 EPS and FY2024 earnings at $1.93 EPS.
A number of other analysts have also issued reports on IONS. BidaskClub raised Ionis Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday. Citigroup dropped their target price on Ionis Pharmaceuticals from $74.00 to $78.00 in a research report on Tuesday, September 8th. Needham & Company LLC lifted their price target on Ionis Pharmaceuticals from $89.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 1st. Royal Bank of Canada lifted their price target on Ionis Pharmaceuticals from $71.00 to $73.00 in a research note on Tuesday, September 1st. Finally, Morgan Stanley decreased their price target on Ionis Pharmaceuticals from $54.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, October 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $67.38.
Shares of NASDAQ IONS opened at $47.13 on Friday. Ionis Pharmaceuticals has a 1 year low of $39.32 and a 1 year high of $66.22. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 53.56 and a beta of 1.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 10.84 and a current ratio of 10.94. The stock’s 50-day simple moving average is $50.38 and its 200-day simple moving average is $54.80.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Wednesday, August 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.05. Ionis Pharmaceuticals had a return on equity of 10.27% and a net margin of 13.81%. The business had revenue of $146.00 million for the quarter, compared to analyst estimates of $148.87 million. During the same period in the previous year, the company earned ($0.01) earnings per share. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 2,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $50.18, for a total value of $100,360.00. Following the completion of the transaction, the chairman now directly owns 2,021 shares in the company, valued at $101,413.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Nachman Norwood & Parrott Inc acquired a new position in Ionis Pharmaceuticals in the third quarter valued at approximately $26,000. Balentine LLC acquired a new position in shares of Ionis Pharmaceuticals during the first quarter worth approximately $29,000. Hall Laurie J Trustee acquired a new position in shares of Ionis Pharmaceuticals during the third quarter worth approximately $47,000. Dupont Capital Management Corp acquired a new position in shares of Ionis Pharmaceuticals during the second quarter worth approximately $48,000. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Ionis Pharmaceuticals by 377.4% during the second quarter. Cullen Frost Bankers Inc. now owns 1,012 shares of the company’s stock worth $60,000 after buying an additional 800 shares during the period. Institutional investors own 85.39% 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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