$132.40 Million in Sales Expected for Ionis Pharmaceuticals Inc (IONS) This Quarter

Analysts expect that Ionis Pharmaceuticals Inc (NASDAQ:IONS) will announce $132.40 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Ionis Pharmaceuticals’ earnings. The highest sales estimate is $141.50 million and the lowest is $124.70 million. Ionis Pharmaceuticals posted sales of $120.91 million in the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The company is expected to issue its next earnings results before the market opens on Tuesday, November 6th.

According to Zacks, analysts expect that Ionis Pharmaceuticals will report full-year sales of $598.35 million for the current fiscal year, with estimates ranging from $529.30 million to $680.88 million. For the next fiscal year, analysts expect that the company will report sales of $790.84 million, with estimates ranging from $465.63 million to $1.26 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, August 7th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). Ionis Pharmaceuticals had a negative net margin of 7.20% and a negative return on equity of 1.22%. The firm had revenue of $117.75 million during the quarter, compared to the consensus estimate of $128.22 million.

IONS has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Ionis Pharmaceuticals from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 28th. Piper Jaffray Companies set a $50.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Monday, September 24th. ValuEngine cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Stifel Nicolaus lifted their target price on shares of Ionis Pharmaceuticals from $45.00 to $48.00 and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Finally, Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $52.00 target price for the company in a research note on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $53.86.

In other Ionis Pharmaceuticals news, COO Brett P. Monia sold 16,493 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $54.00, for a total transaction of $890,622.00. Following the completion of the transaction, the chief operating officer now directly owns 24,834 shares of the company’s stock, valued at approximately $1,341,036. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP C Frank Bennett sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the transaction, the senior vice president now directly owns 19,409 shares of the company’s stock, valued at $873,405. The disclosure for this sale can be found here. 2.44% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning raised its position in Ionis Pharmaceuticals by 9.5% during the 3rd quarter. Creative Planning now owns 26,618 shares of the company’s stock worth $1,373,000 after buying an additional 2,320 shares during the last quarter. First Trust Advisors LP raised its position in Ionis Pharmaceuticals by 99.1% during the 3rd quarter. First Trust Advisors LP now owns 2,125,724 shares of the company’s stock worth $109,645,000 after buying an additional 1,057,960 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new position in Ionis Pharmaceuticals during the 3rd quarter worth approximately $734,000. TRUE Private Wealth Advisors purchased a new position in Ionis Pharmaceuticals during the 3rd quarter worth approximately $133,000. Finally, Nisa Investment Advisors LLC purchased a new position in Ionis Pharmaceuticals during the 3rd quarter worth approximately $380,000. 85.59% of the stock is owned by institutional investors.

IONS stock traded up $0.70 during trading on Tuesday, reaching $48.60. The company had a trading volume of 22,086 shares, compared to its average volume of 1,218,980. The stock has a market capitalization of $6.56 billion, a PE ratio of 607.75 and a beta of 2.43. The company has a quick ratio of 8.34, a current ratio of 8.38 and a debt-to-equity ratio of 0.76. Ionis Pharmaceuticals has a twelve month low of $39.07 and a twelve month high of $59.62.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.

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

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