Zacks: Brokerages Expect Ionis Pharmaceuticals, Inc. (IONS) Will Announce Earnings of -$0.06 Per Share
Analysts expect Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) to report ($0.06) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Ionis Pharmaceuticals’ earnings. The highest EPS estimate is $0.19 and the lowest is ($0.38). Ionis Pharmaceuticals posted earnings per share of ($0.47) during the same quarter last year, which indicates a positive year-over-year growth rate of 87.2%. The firm is expected to announce its next quarterly earnings results before the market opens on Tuesday, August 8th.
On average, analysts expect that Ionis Pharmaceuticals will report full year earnings of ($0.05) per share for the current financial year, with EPS estimates ranging from ($0.96) to $0.72. For the next financial year, analysts expect that the business will post earnings of ($0.20) per share, with EPS estimates ranging from ($2.28) to $2.08. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that follow Ionis Pharmaceuticals.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.03. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. The company had revenue of $104.15 million for the quarter, compared to analyst estimates of $93.29 million. During the same quarter last year, the business earned ($0.47) EPS. The company’s revenue for the quarter was up 170.7% on a year-over-year basis.
A number of brokerages have commented on IONS. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price objective (up from $59.56) on shares of Ionis Pharmaceuticals in a report on Tuesday, July 25th. Sanford C. Bernstein began coverage on Ionis Pharmaceuticals in a report on Thursday, July 27th. They issued a “market perform” rating and a $57.00 price objective on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $42.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. Finally, TheStreet raised Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a report on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $46.44.
Shares of Ionis Pharmaceuticals (NASDAQ IONS) traded down 8.09% during trading on Tuesday, reaching $48.31. The company’s stock had a trading volume of 2,476,411 shares. The stock’s 50 day moving average price is $53.06 and its 200 day moving average price is $46.75. The company’s market cap is $5.99 billion. Ionis Pharmaceuticals has a 52 week low of $24.58 and a 52 week high of $60.01.
In related news, SVP C Frank Bennett sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.29, for a total transaction of $592,900.00. Following the completion of the sale, the senior vice president now owns 25,041 shares of the company’s stock, valued at $1,484,680.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were acquired at an average cost of $8.00 per share, with a total value of $25,000,000.00. Following the purchase, the insider now directly owns 28,884,540 shares of the company’s stock, valued at $231,076,320. The disclosure for this purchase can be found here. Insiders sold 54,379 shares of company stock valued at $2,946,052 over the last quarter. Corporate insiders own 1.86% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Nomura Holdings Inc. raised its position in Ionis Pharmaceuticals by 105.7% in the first quarter. Nomura Holdings Inc. now owns 103,933 shares of the company’s stock worth $4,179,000 after buying an additional 53,395 shares in the last quarter. Wellington Management Group LLP raised its position in Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock worth $376,295,000 after buying an additional 3,364,621 shares in the last quarter. Creative Planning raised its position in Ionis Pharmaceuticals by 5.7% in the first quarter. Creative Planning now owns 26,856 shares of the company’s stock worth $1,080,000 after buying an additional 1,442 shares in the last quarter. Credit Suisse AG raised its position in Ionis Pharmaceuticals by 79.2% in the first quarter. Credit Suisse AG now owns 385,145 shares of the company’s stock worth $15,483,000 after buying an additional 170,192 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in Ionis Pharmaceuticals by 19.0% in the first quarter. Pacer Advisors Inc. now owns 13,037 shares of the company’s stock worth $524,000 after buying an additional 2,085 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.
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Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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