$1.19 EPS Expected for Ionis Pharmaceuticals Inc (NASDAQ:IONS) This Quarter

Wall Street brokerages expect Ionis Pharmaceuticals Inc (NASDAQ:IONS) to post $1.19 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have issued estimates for Ionis Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $1.39. Ionis Pharmaceuticals posted earnings per share of $2.42 in the same quarter last year, which would indicate a negative year over year growth rate of 50.8%. The business is expected to issue its next earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that Ionis Pharmaceuticals will report full year earnings of $1.99 per share for the current fiscal year, with EPS estimates ranging from $1.64 to $2.17. For the next financial year, analysts forecast that the business will report earnings of $0.19 per share, with EPS estimates ranging from ($1.43) to $1.08. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.49. The firm had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $152.47 million. Ionis Pharmaceuticals had a net margin of 52.26% and a return on equity of 36.31%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) earnings per share.

A number of analysts have commented on IONS shares. Cantor Fitzgerald set a $65.00 price target on shares of Ionis Pharmaceuticals and gave the company a “hold” rating in a research note on Tuesday, October 15th. Piper Jaffray Companies cut their target price on shares of Ionis Pharmaceuticals from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley downgraded shares of Ionis Pharmaceuticals from an “equal” rating to a “weight” rating and cut their target price for the stock from $63.00 to $48.00 in a research report on Thursday, November 7th. ValuEngine upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Saturday, November 16th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $75.67.

In other Ionis Pharmaceuticals news, CFO Elizabeth L. Hougen sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $58.80, for a total transaction of $235,200.00. Following the completion of the transaction, the chief financial officer now owns 24,055 shares in the company, valued at approximately $1,414,434. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Klein III sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $63.74, for a total transaction of $63,740.00. Following the transaction, the director now owns 13,683 shares of the company’s stock, valued at approximately $872,154.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,154 shares of company stock valued at $2,397,122. Company insiders own 2.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC boosted its holdings in Ionis Pharmaceuticals by 38.5% during the 2nd quarter. Advisory Services Network LLC now owns 907 shares of the company’s stock worth $58,000 after acquiring an additional 252 shares during the last quarter. Great Point Partners LLC purchased a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter worth $16,176,000. Pacer Advisors Inc. purchased a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter worth $1,307,000. Raymond James Trust N.A. lifted its holdings in shares of Ionis Pharmaceuticals by 19.4% in the 3rd quarter. Raymond James Trust N.A. now owns 5,337 shares of the company’s stock worth $320,000 after buying an additional 866 shares during the period. Finally, Quest Capital Management Inc. ADV purchased a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Shares of IONS stock opened at $63.05 on Monday. The stock has a market cap of $8.68 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.22 and a beta of 1.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 10.39 and a quick ratio of 10.31. The company has a fifty day moving average price of $59.55 and a two-hundred day moving average price of $62.84. Ionis Pharmaceuticals has a one year low of $48.27 and a one year high of $86.58.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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