Zacks: Analysts Expect Ionis Pharmaceuticals Inc (NASDAQ:IONS) Will Post Earnings of -$0.26 Per Share

Equities research analysts forecast that Ionis Pharmaceuticals Inc (NASDAQ:IONS) will report ($0.26) earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Ionis Pharmaceuticals’ earnings. The highest EPS estimate is ($0.05) and the lowest is ($0.50). Ionis Pharmaceuticals posted earnings of ($0.05) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 420%. The firm is scheduled to report its next quarterly earnings results on Tuesday, August 6th.

On average, analysts expect that Ionis Pharmaceuticals will report full-year earnings of ($0.21) per share for the current fiscal year, with EPS estimates ranging from ($1.05) to $0.24. For the next year, analysts forecast that the firm will report earnings of $0.44 per share, with EPS estimates ranging from ($1.51) to $4.50. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Thursday, May 9th. The company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.19. Ionis Pharmaceuticals had a net margin of 47.74% and a return on equity of 44.03%. The business had revenue of $297.00 million for the quarter, compared to analyst estimates of $285.43 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The firm’s quarterly revenue was up 106.3% compared to the same quarter last year.

A number of equities research analysts have commented on IONS shares. ValuEngine raised shares of Ionis Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th. BMO Capital Markets increased their price objective on shares of Ionis Pharmaceuticals from $70.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, February 28th. Piper Jaffray Companies increased their price objective on shares of Ionis Pharmaceuticals to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 28th. Morgan Stanley set a $71.00 price objective on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, TheStreet raised shares of Ionis Pharmaceuticals from a “c” rating to a “b-” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.44.

NASDAQ:IONS traded down $0.32 during mid-day trading on Monday, reaching $64.12. 3,691 shares of the company were exchanged, compared to its average volume of 1,530,381. Ionis Pharmaceuticals has a 12 month low of $40.91 and a 12 month high of $86.58. The company has a quick ratio of 9.36, a current ratio of 9.40 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.89 billion, a P/E ratio of 21.66 and a beta of 2.28.

In other news, Director Frederick T. Muto sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $65.29, for a total value of $979,350.00. Following the transaction, the director now owns 24,794 shares of the company’s stock, valued at approximately $1,618,800.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director B Lynne Parshall sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the transaction, the director now directly owns 102,677 shares in the company, valued at approximately $7,701,801.77. The disclosure for this sale can be found here. Insiders sold a total of 247,222 shares of company stock worth $19,785,950 in the last ninety days. Insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc raised its holdings in shares of Ionis Pharmaceuticals by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 11,091,298 shares of the company’s stock valued at $572,089,000 after buying an additional 157,770 shares in the last quarter. Bank of Montreal Can increased its stake in Ionis Pharmaceuticals by 95.2% in the 4th quarter. Bank of Montreal Can now owns 35,651 shares of the company’s stock worth $1,928,000 after purchasing an additional 17,386 shares during the period. Advisors Asset Management Inc. increased its stake in Ionis Pharmaceuticals by 13.2% in the 4th quarter. Advisors Asset Management Inc. now owns 21,255 shares of the company’s stock worth $1,149,000 after purchasing an additional 2,482 shares during the period. SG Americas Securities LLC increased its stake in Ionis Pharmaceuticals by 269.1% in the 4th quarter. SG Americas Securities LLC now owns 12,925 shares of the company’s stock worth $699,000 after purchasing an additional 9,423 shares during the period. Finally, Creative Planning increased its stake in Ionis Pharmaceuticals by 3.1% in the 4th quarter. Creative Planning now owns 27,435 shares of the company’s stock worth $1,483,000 after purchasing an additional 817 shares during the period. 82.68% of the stock is currently owned by institutional investors.

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

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