$129.33 Million in Sales Expected for Ionis Pharmaceuticals, Inc. (IONS) This Quarter
Equities analysts expect Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) to announce $129.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Ionis Pharmaceuticals’ earnings, with the highest sales estimate coming in at $167.27 million and the lowest estimate coming in at $93.54 million. Ionis Pharmaceuticals posted sales of $110.93 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.6%. The firm is expected to issue its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Ionis Pharmaceuticals will report full-year sales of $129.33 million for the current fiscal year, with estimates ranging from $377.16 million to $500.11 million. For the next year, analysts anticipate 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 calculations are an average based on a survey of research firms that cover Ionis Pharmaceuticals.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $104.15 million during the quarter, compared to the consensus estimate of $93.29 million. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The firm’s quarterly revenue was up 170.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) earnings per share.
A number of research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $68.00 price target for the company in a research note on Tuesday, October 17th. Stifel Nicolaus restated a “hold” rating and set a $50.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, October 13th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $30.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, October 6th. Finally, BMO Capital Markets restated an “outperform” rating and set a $69.00 price target on shares of Ionis Pharmaceuticals in a research note on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $50.04.
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In other news, SVP Patrick R. O’neil sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total transaction of $55,000.00. Following the completion of the sale, the senior vice president now owns 10,633 shares of the company’s stock, valued at $584,815. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Stanley T. Crooke sold 27,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $52.89, for a total transaction of $1,454,475.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,636 shares of company stock valued at $5,665,565. Company insiders own 2.13% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of IONS. Parametric Portfolio Associates LLC increased its holdings in shares of Ionis Pharmaceuticals by 8.4% during the first quarter. Parametric Portfolio Associates LLC now owns 99,863 shares of the company’s stock worth $4,014,000 after buying an additional 7,776 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Ionis Pharmaceuticals by 36.4% during the first quarter. Prudential Financial Inc. now owns 8,241 shares of the company’s stock worth $331,000 after buying an additional 2,200 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Ionis Pharmaceuticals by 6.3% during the first quarter. Teachers Advisors LLC now owns 131,656 shares of the company’s stock worth $5,293,000 after buying an additional 7,846 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Ionis Pharmaceuticals by 211.2% during the first quarter. Legal & General Group Plc now owns 40,536 shares of the company’s stock worth $1,630,000 after buying an additional 27,512 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Ionis Pharmaceuticals by 4.3% during the first quarter. Vanguard Group Inc. now owns 9,437,796 shares of the company’s stock worth $379,399,000 after buying an additional 384,830 shares in the last quarter. 89.21% of the stock is owned by institutional investors.
Shares of Ionis Pharmaceuticals (IONS) traded down 12.48% during mid-day trading on Tuesday, reaching $54.96. The company had a trading volume of 5,207,050 shares. The company has a market capitalization of $6.83 billion, a PE ratio of 264.23 and a beta of 3.12. The company’s 50-day moving average price is $56.71 and its 200-day moving average price is $50.85. Ionis Pharmaceuticals has a 52-week low of $24.58 and a 52-week high of $65.51.
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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