Q1 2024 EPS Estimates for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Lowered by Analyst

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Equities research analysts at Leerink Partnrs reduced their Q1 2024 earnings estimates for Ionis Pharmaceuticals in a research note issued on Tuesday, April 16th. Leerink Partnrs analyst M. Foroohar now expects that the company will earn ($0.84) per share for the quarter, down from their previous 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.

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

Several other brokerages also recently issued reports on IONS. Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. William Blair reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, April 9th. Royal Bank of Canada upped their price target on shares of Ionis Pharmaceuticals from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Piper Sandler upped their price target on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Ionis Pharmaceuticals from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.08.

Ionis Pharmaceuticals Stock Performance

Shares of IONS opened at $40.91 on Thursday. The company has a debt-to-equity ratio of 3.18, a quick ratio of 5.83 and a current ratio of 5.90. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of -15.98 and a beta of 0.39. The company’s 50 day simple moving average is $44.25 and its 200 day simple moving average is $47.35. Ionis Pharmaceuticals has a 1 year low of $34.32 and a 1 year high of $54.44.

Insider Transactions at Ionis Pharmaceuticals

In other news, CEO Brett P. Monia sold 23,501 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $49.37, for a total value of $1,160,244.37. Following the completion of the transaction, the chief executive officer now directly owns 174,138 shares in the company, valued at $8,597,193.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brett P. Monia sold 2,285 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.75, for a total value of $118,248.75. Following the completion of the transaction, the chief executive officer now directly owns 151,851 shares in the company, valued at $7,858,289.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett P. Monia sold 23,501 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $49.37, for a total transaction of $1,160,244.37. Following the completion of the transaction, the chief executive officer now owns 174,138 shares of the company’s stock, valued at $8,597,193.06. The disclosure for this sale can be found here. Insiders sold 51,434 shares of company stock valued at $2,556,127 over the last 90 days. Corporate insiders own 2.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quilter Plc bought a new position in Ionis Pharmaceuticals during the 1st quarter valued at $360,459,000. GAMMA Investing LLC bought a new position in Ionis Pharmaceuticals during the 4th quarter valued at $26,000. Pingora Partners LLC bought a new position in Ionis Pharmaceuticals during the 4th quarter valued at $25,000. Comerica Bank bought a new position in Ionis Pharmaceuticals during the 2nd quarter valued at $220,000. Finally, Mather Group LLC. bought a new position in Ionis Pharmaceuticals during the 1st quarter valued at $29,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

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; 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.