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.
ILLEGAL ACTIVITY WARNING: This story was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.tickerreport.com/banking-finance/2796919/ionis-pharmaceuticals-inc-ions-expected-to-post-quarterly-sales-of-101-60-million.html.
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.
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.