$129.33 Million in Sales Expected for Ionis Pharmaceuticals, Inc. (IONS) This Quarter
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.
COPYRIGHT VIOLATION WARNING: This report was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/10/05/129-33-million-in-sales-expected-for-ionis-pharmaceuticals-inc-ions-this-quarter-2.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ionis Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.