Zacks: Analysts Anticipate Ionis Pharmaceuticals, Inc. (IONS) Will Post Quarterly Sales of $115.44 Million

Wall Street brokerages expect Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) to announce sales of $115.44 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Ionis Pharmaceuticals’ earnings. The highest sales estimate is $137.00 million and the lowest is $95.25 million. Ionis Pharmaceuticals posted sales of $160.35 million during the same quarter last year, which suggests a negative year over year growth rate of 28%. The company is scheduled to issue its next quarterly earnings results on Tuesday, February 27th.

On average, analysts expect that Ionis Pharmaceuticals will report full-year sales of $115.44 million for the current financial year, with estimates ranging from $390.57 million to $486.00 million. For the next fiscal year, analysts forecast that the business will report sales of $514.99 million per share, with estimates ranging from $370.33 million to $818.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Ionis Pharmaceuticals.

IONS has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $64.00 price objective on shares of Ionis Pharmaceuticals in a research report on Tuesday, October 17th. Jefferies Group reiterated an “underperform” rating and set a $18.00 price target (up from $17.00) on shares of Ionis Pharmaceuticals in a report on Thursday, August 10th. Laidlaw reiterated a “buy” rating and set a $65.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, August 14th. BMO Capital Markets lifted their price target on Ionis Pharmaceuticals from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, August 14th. Finally, Stifel Nicolaus upped their price objective on Ionis Pharmaceuticals from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Ionis Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $50.31.

In other news, Chairman Stanley T. Crooke sold 27,500 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $52.89, for a total value of $1,454,475.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Patrick R. O’neil sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $55.00, for a total transaction of $55,000.00. Following the transaction, the senior vice president now directly owns 10,633 shares of the company’s stock, valued at approximately $584,815. The disclosure for this sale can be found here. Insiders have sold 110,886 shares of company stock valued at $6,391,045 in the last ninety days. Insiders own 2.13% of the company’s stock.

Large investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter worth about $100,000. Parallel Advisors LLC lifted its position in shares of Ionis Pharmaceuticals by 62.8% in the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after purchasing an additional 800 shares in the last quarter. Hanseatic Management Services Inc. raised its position in Ionis Pharmaceuticals by 1.2% during the second quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock valued at $177,000 after acquiring an additional 41 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ionis Pharmaceuticals by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock valued at $190,000 after purchasing an additional 311 shares during the period. Finally, WFG Advisors LP boosted its stake in Ionis Pharmaceuticals by 77.2% during the second quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock worth $193,000 after buying an additional 1,655 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Shares of Ionis Pharmaceuticals (NASDAQ IONS) opened at $55.49 on Friday. The stock has a market cap of $6,605.43, a price-to-earnings ratio of 352.87 and a beta of 2.90. Ionis Pharmaceuticals has a twelve month low of $37.26 and a twelve month high of $65.51. The company has a quick ratio of 6.21, a current ratio of 6.25 and a debt-to-equity ratio of 1.50.

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

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