Brokerages Expect Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Will Post Quarterly Sales of $138.19 Million

Analysts expect Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) to post sales of $138.19 million for the current quarter, according to Zacks. Six analysts have made estimates for Ionis Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $117.80 million and the highest estimate coming in at $166.00 million. Ionis Pharmaceuticals reported sales of $146.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.3%. The company is scheduled to announce its next earnings results on Wednesday, August 4th.

On average, analysts expect that Ionis Pharmaceuticals will report full-year sales of $623.16 million for the current year, with estimates ranging from $606.70 million to $645.50 million. For the next year, analysts forecast that the company will report sales of $698.78 million, with estimates ranging from $525.35 million to $874.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, May 5th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.16). Ionis Pharmaceuticals had a negative return on equity of 41.74% and a negative net margin of 69.63%. The firm had revenue of $112.00 million for the quarter, compared to analyst estimates of $134.93 million. During the same period in the previous year, the firm posted ($0.35) earnings per share. The company’s revenue for the quarter was down 15.8% on a year-over-year basis.

A number of research analysts have recently commented on IONS shares. Piper Sandler reduced their target price on shares of Ionis Pharmaceuticals from $55.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, March 22nd. Royal Bank of Canada cut their price target on shares of Ionis Pharmaceuticals from $76.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, March 23rd. TheStreet cut shares of Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a report on Wednesday, February 24th. Needham & Company LLC cut their price target on shares of Ionis Pharmaceuticals from $95.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, March 23rd. Finally, Barclays cut their price target on shares of Ionis Pharmaceuticals from $52.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.05.

Shares of NASDAQ IONS traded up $1.29 during trading on Friday, reaching $38.21. 2,579,249 shares of the stock were exchanged, compared to its average volume of 1,488,690. The business’s 50-day moving average price is $39.57. Ionis Pharmaceuticals has a twelve month low of $34.43 and a twelve month high of $64.37. The company has a quick ratio of 6.67, a current ratio of 6.74 and a debt-to-equity ratio of 1.28. The company has a market cap of $5.39 billion, a P/E ratio of -10.46 and a beta of 1.09.

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its stake in Ionis Pharmaceuticals by 0.3% during the fourth quarter. FMR LLC now owns 20,938,034 shares of the company’s stock valued at $1,183,836,000 after purchasing an additional 71,082 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Ionis Pharmaceuticals by 22.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,114,967 shares of the company’s stock worth $741,520,000 after acquiring an additional 2,382,942 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Ionis Pharmaceuticals by 7.1% during the first quarter. Clearbridge Investments LLC now owns 7,402,967 shares of the company’s stock worth $332,837,000 after acquiring an additional 487,820 shares during the last quarter. ARK Investment Management LLC grew its position in shares of Ionis Pharmaceuticals by 114.3% during the first quarter. ARK Investment Management LLC now owns 5,142,271 shares of the company’s stock worth $231,197,000 after acquiring an additional 2,742,717 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Ionis Pharmaceuticals by 4.8% during the first quarter. JPMorgan Chase & Co. now owns 1,963,223 shares of the company’s stock worth $88,266,000 after acquiring an additional 89,891 shares during the last quarter. Hedge funds and other institutional investors own 86.17% 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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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Earnings History and Estimates for Ionis Pharmaceuticals (NASDAQ:IONS)

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