Ionis Pharmaceuticals, Inc. (IONS) Expected to Post Quarterly Sales of $101.60 Million

Brokerages expect Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) to post $101.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ionis Pharmaceuticals’ earnings. The highest sales estimate is $133.00 million and the lowest is $62.34 million. Ionis Pharmaceuticals reported sales of $110.93 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.4%. The business is expected to announce its next quarterly earnings report on Wednesday, November 8th.

According to Zacks, analysts expect that Ionis Pharmaceuticals will report full-year sales of $101.60 million for the current financial year, with estimates ranging from $291.23 million to $510.34 million. For the next year, analysts expect that the company will post sales of $459.49 million per share, with estimates ranging from $317.67 million to $702.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $104.15 million during the quarter, compared to analysts’ expectations of $93.29 million. Ionis Pharmaceuticals had a return on equity of 17.34% and a net margin of 5.25%. The business’s quarterly revenue was up 170.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.47) EPS.

A number of research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday, July 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up previously from $59.56) on shares of Ionis Pharmaceuticals in a research report on Tuesday, July 25th. Sanford C. Bernstein assumed coverage on Ionis Pharmaceuticals in a research report on Thursday, July 27th. They set a “market perform” rating and a $57.00 price objective on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $42.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, July 10th. Finally, TheStreet raised Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $47.05.

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In related news, SVP C Frank Bennett sold 10,000 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.29, for a total value of $592,900.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the acquisition, 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 worth $2,946,052 in the last three months. 1.86% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Ionis Pharmaceuticals by 37,569.7% in the first quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock valued at $263,704,000 after buying an additional 6,542,394 shares during the period. 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 valued at $376,295,000 after buying an additional 3,364,621 shares during the period. State Street Corp raised its position in Ionis Pharmaceuticals by 20.5% in the first quarter. State Street Corp now owns 3,340,471 shares of the company’s stock valued at $134,285,000 after buying an additional 567,792 shares during the period. BB Biotech AG raised its position in Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock valued at $299,944,000 after buying an additional 548,123 shares during the period. Finally, Vanguard Group Inc. raised its position in Ionis Pharmaceuticals by 4.3% in the first quarter. Vanguard Group Inc. now owns 9,437,796 shares of the company’s stock valued at $379,399,000 after buying an additional 384,830 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ionis Pharmaceuticals (NASDAQ IONS) opened at 48.06 on Thursday. Ionis Pharmaceuticals has a 12 month low of $24.58 and a 12 month high of $60.01. The stock’s market cap is $5.96 billion. The firm has a 50-day moving average price of $52.99 and a 200-day moving average price of $46.91.

About Ionis Pharmaceuticals

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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