FY2020 EPS Estimates for Ionis Pharmaceuticals Inc (NASDAQ:IONS) Lifted by Analyst

Ionis Pharmaceuticals Inc (NASDAQ:IONS) – Investment analysts at Svb Leerink lifted their FY2020 earnings per share estimates for Ionis Pharmaceuticals in a research report issued on Wednesday, November 6th. Svb Leerink analyst M. Foroohar now expects that the company will post earnings per share of $0.62 for the year, up from their prior estimate of $0.52.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued 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. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The company had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. During the same period last year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year.

Several other brokerages have also recently weighed in on IONS. Morgan Stanley cut Ionis Pharmaceuticals from an “equal” rating to a “weight” rating and decreased their target price for the company from $63.00 to $48.00 in a research note on Thursday. BMO Capital Markets decreased their target price on Ionis Pharmaceuticals from $96.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Zacks Investment Research cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. ValuEngine cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Cowen reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $73.45.

IONS stock traded up $1.71 during trading hours on Friday, hitting $57.06. 925,100 shares of the stock traded hands, compared to its average volume of 1,150,599. The stock has a 50-day simple moving average of $57.99 and a 200 day simple moving average of $64.32. Ionis Pharmaceuticals has a one year low of $48.27 and a one year high of $86.58. The company has a market cap of $7.64 billion, a P/E ratio of 19.28, a P/E/G ratio of 15.24 and a beta of 1.90. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45.

In related news, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total value of $1,573,440.00. Following the completion of the transaction, the chairman now owns 79,634 shares in the company, valued at approximately $5,695,423.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Ionis Pharmaceuticals in the 3rd quarter valued at $125,000. Creative Planning boosted its position in shares of Ionis Pharmaceuticals by 2.4% in the 3rd quarter. Creative Planning now owns 23,285 shares of the company’s stock valued at $1,395,000 after purchasing an additional 552 shares during the period. IFM Investors Pty Ltd boosted its position in shares of Ionis Pharmaceuticals by 46.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 12,234 shares of the company’s stock valued at $733,000 after purchasing an additional 3,854 shares during the period. California Public Employees Retirement System boosted its position in shares of Ionis Pharmaceuticals by 34.1% in the 3rd quarter. California Public Employees Retirement System now owns 291,371 shares of the company’s stock valued at $17,456,000 after purchasing an additional 74,015 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Ionis Pharmaceuticals by 7.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 865,463 shares of the company’s stock valued at $51,850,000 after purchasing an additional 60,363 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Ionis Pharmaceuticals Company Profile

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.

Featured Story: Support Level

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

Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.