Wall Street analysts predict that Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) will announce sales of $129.33 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ionis Pharmaceuticals’ earnings. The lowest sales estimate is $93.54 million and the highest is $167.27 million. Ionis Pharmaceuticals reported sales of $110.93 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.6%. The business is scheduled to issue its next earnings report on Wednesday, November 8th.

According to Zacks, analysts expect that Ionis Pharmaceuticals will report full year sales of $129.33 million for the current financial year, with estimates ranging from $377.16 million to $500.11 million. For the next fiscal year, analysts expect that the firm will report sales of $449.96 million per share, with estimates ranging from $317.67 million to $760.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The business had revenue of $104.15 million during the quarter, compared to the consensus estimate of $93.29 million. During the same quarter in the previous year, the business posted ($0.47) EPS. The company’s revenue for the quarter was up 170.7% on a year-over-year basis.

A number of equities research analysts recently issued reports on IONS shares. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Monday, July 31st. TheStreet upgraded Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of Ionis Pharmaceuticals in a research report on Sunday, September 17th. Barclays PLC started coverage on Ionis Pharmaceuticals in a research report on Wednesday, September 6th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $59.00) on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Ionis Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $49.11.

In other news, Chairman Stanley T. Crooke sold 16,500 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $52.45, for a total transaction of $865,425.00. Following the transaction, the chairman now directly owns 53,014 shares of the company’s stock, valued at $2,780,584.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stanley T. Crooke sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $52.00, for a total value of $780,000.00. Following the transaction, the chief executive officer now directly owns 43,014 shares in the company, valued at $2,236,728. The disclosure for this sale can be found here. Insiders have sold 81,000 shares of company stock worth $4,356,650 over the last ninety days. Insiders own 1.86% of the company’s stock.

Large investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Ionis Pharmaceuticals by 37,569.7% in the first quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock worth $263,704,000 after purchasing an additional 6,542,394 shares during the last quarter. State Street Corp grew its stake in shares of Ionis Pharmaceuticals by 20.5% in the first quarter. State Street Corp now owns 3,340,471 shares of the company’s stock worth $134,285,000 after purchasing an additional 567,792 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ionis Pharmaceuticals by 4.4% in the second quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock worth $501,332,000 after purchasing an additional 417,364 shares during the last quarter. Smith Asset Management Group LP bought a new stake in shares of Ionis Pharmaceuticals in the second quarter worth about $11,394,000. Finally, Gotham Asset Management LLC grew its stake in shares of Ionis Pharmaceuticals by 227.6% in the first quarter. Gotham Asset Management LLC now owns 313,432 shares of the company’s stock worth $12,600,000 after purchasing an additional 217,756 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

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Ionis Pharmaceuticals (IONS) opened at 54.31 on Thursday. Ionis Pharmaceuticals has a 52 week low of $24.58 and a 52 week high of $60.01. The stock has a 50 day moving average price of $52.79 and a 200 day moving average price of $48.81. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 261.11 and a beta of 3.12.

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

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