Ionis Pharmaceuticals, Inc. to Post Q1 2024 Earnings of ($0.84) Per Share, Leerink Partnrs Forecasts (NASDAQ:IONS)

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Stock analysts at Leerink Partnrs lowered their Q1 2024 earnings per share (EPS) estimates for Ionis Pharmaceuticals in a research note issued to investors on Tuesday, April 16th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings of ($0.84) per share for the quarter, down from their prior estimate of ($0.80). The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($4.00) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals’ Q2 2024 earnings at ($0.82) EPS, Q3 2024 earnings at ($0.89) EPS, Q4 2024 earnings at ($0.96) EPS, FY2025 earnings at ($2.17) EPS and FY2028 earnings at $1.01 EPS.

A number of other equities research analysts also recently commented on IONS. Piper Sandler boosted their target price on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Bank of America raised Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $62.00 in a research note on Tuesday, January 2nd. StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. Finally, Oppenheimer lifted their price objective on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.08.

Ionis Pharmaceuticals Price Performance

NASDAQ:IONS opened at $40.68 on Thursday. The company has a current ratio of 5.90, a quick ratio of 5.83 and a debt-to-equity ratio of 3.18. The company has a market capitalization of $5.93 billion, a P/E ratio of -15.89 and a beta of 0.39. Ionis Pharmaceuticals has a 12 month low of $34.32 and a 12 month high of $54.44. The business’s 50-day moving average is $43.86 and its 200 day moving average is $47.28.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, February 21st. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.72. The company had revenue of $325.00 million for the quarter, compared to the consensus estimate of $176.01 million. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The firm’s revenue for the quarter was up 113.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.37) earnings per share.

Institutional Trading of Ionis Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Ionis Pharmaceuticals by 5.0% in the third quarter. Vanguard Group Inc. now owns 12,806,023 shares of the company’s stock valued at $566,411,000 after acquiring an additional 605,747 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Ionis Pharmaceuticals by 4.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,678,259 shares of the company’s stock valued at $441,088,000 after acquiring an additional 521,564 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Ionis Pharmaceuticals by 10.1% in the first quarter. Clearbridge Investments LLC now owns 6,476,033 shares of the company’s stock valued at $239,872,000 after acquiring an additional 593,051 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Ionis Pharmaceuticals by 162.2% in the fourth quarter. Wellington Management Group LLP now owns 4,616,978 shares of the company’s stock valued at $233,573,000 after acquiring an additional 2,856,353 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Ionis Pharmaceuticals by 13.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,255,074 shares of the company’s stock valued at $215,265,000 after acquiring an additional 497,077 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP Joseph Baroldi sold 4,006 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total transaction of $166,649.60. Following the completion of the sale, the executive vice president now directly owns 19,631 shares in the company, valued at $816,649.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Eric Swayze sold 1,907 shares of Ionis Pharmaceuticals stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $49.56, for a total transaction of $94,510.92. Following the completion of the sale, the executive vice president now directly owns 34,324 shares in the company, valued at $1,701,097.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Baroldi sold 4,006 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total value of $166,649.60. Following the sale, the executive vice president now owns 19,631 shares of the company’s stock, valued at $816,649.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,434 shares of company stock worth $2,556,127. 2.65% of the stock is currently owned by insiders.

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; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.