$138.19 Million in Sales Expected for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) This Quarter

Brokerages forecast that Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) will post $138.19 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Ionis Pharmaceuticals’ earnings, with the highest sales estimate coming in at $166.00 million and the lowest estimate coming in at $117.80 million. Ionis Pharmaceuticals reported sales of $146.00 million in the same quarter last year, which would suggest a negative year over year growth rate of 5.3%. The company is scheduled to report its next earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that Ionis Pharmaceuticals will report full-year sales of $623.16 million for the current financial year, with estimates ranging from $606.70 million to $645.50 million. For the next fiscal year, analysts forecast that the business will report sales of $698.78 million, with estimates ranging from $525.35 million to $874.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, May 5th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.16). The business had revenue of $112.00 million for the quarter, compared to the consensus estimate of $134.93 million. Ionis Pharmaceuticals had a negative return on equity of 41.74% and a negative net margin of 69.63%. Ionis Pharmaceuticals’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) earnings per share.

IONS has been the topic of several recent research reports. Needham & Company LLC cut their price target on Ionis Pharmaceuticals from $95.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, March 23rd. Piper Sandler dropped their target price on Ionis Pharmaceuticals from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, March 22nd. Royal Bank of Canada dropped their target price on Ionis Pharmaceuticals from $76.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, March 23rd. Morgan Stanley dropped their target price on Ionis Pharmaceuticals from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Thursday, May 6th. Finally, UBS Group upgraded Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and raised their target price for the company from $33.00 to $37.50 in a report on Friday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.05.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NEXT Financial Group Inc grew its position in shares of Ionis Pharmaceuticals by 6.7% in the fourth quarter. NEXT Financial Group Inc now owns 2,829 shares of the company’s stock valued at $160,000 after purchasing an additional 178 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Ionis Pharmaceuticals by 0.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 50,115 shares of the company’s stock worth $2,834,000 after buying an additional 180 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Ionis Pharmaceuticals by 0.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 22,800 shares of the company’s stock worth $1,289,000 after buying an additional 200 shares in the last quarter. Xponance Inc. grew its position in Ionis Pharmaceuticals by 3.2% during the fourth quarter. Xponance Inc. now owns 6,780 shares of the company’s stock worth $383,000 after buying an additional 209 shares in the last quarter. Finally, Icon Wealth Partners LLC grew its position in Ionis Pharmaceuticals by 5.1% during the first quarter. Icon Wealth Partners LLC now owns 5,671 shares of the company’s stock worth $255,000 after buying an additional 273 shares in the last quarter. Institutional investors own 86.17% of the company’s stock.

NASDAQ IONS traded up $1.29 during trading hours on Friday, hitting $38.21. 2,579,249 shares of the company’s stock were exchanged, compared to its average volume of 1,488,690. The firm has a 50-day moving average of $39.57. Ionis Pharmaceuticals has a 1-year low of $34.43 and a 1-year high of $64.37. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of -10.46 and a beta of 1.09. The company has a current ratio of 6.74, a quick ratio of 6.67 and a debt-to-equity ratio of 1.28.

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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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

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