Research Analysts Set Expectations for Ionis Pharmaceuticals, Inc.’s Q3 2024 Earnings (NASDAQ:IONS)

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Research analysts at Leerink Partnrs upped their Q3 2024 earnings estimates for shares of Ionis Pharmaceuticals in a report issued on Tuesday, September 10th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings per share of ($0.92) for the quarter, up from their prior forecast of ($1.00). Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($3.68) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals’ Q4 2024 earnings at ($0.57) EPS, FY2024 earnings at ($2.92) EPS, FY2025 earnings at ($2.54) EPS, FY2026 earnings at ($1.87) EPS and FY2027 earnings at $1.30 EPS.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Thursday, August 1st. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.47. The company had revenue of $225.00 million for the quarter, compared to the consensus estimate of $152.35 million. Ionis Pharmaceuticals had a negative return on equity of 115.66% and a negative net margin of 44.90%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share.

Other equities research analysts also recently issued reports about the stock. Bank of America boosted their price target on shares of Ionis Pharmaceuticals from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price objective on Ionis Pharmaceuticals from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. boosted their price objective on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, BMO Capital Markets cut Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $67.00 to $60.00 in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.68.

Ionis Pharmaceuticals Trading Up 2.9 %

NASDAQ IONS opened at $42.19 on Thursday. The company has a debt-to-equity ratio of 4.67, a current ratio of 7.61 and a quick ratio of 7.51. The stock has a market capitalization of $6.17 billion, a P/E ratio of -15.80 and a beta of 0.39. The firm’s 50-day moving average is $47.71 and its two-hundred day moving average is $43.96. Ionis Pharmaceuticals has a 12 month low of $35.95 and a 12 month high of $54.44.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in Ionis Pharmaceuticals during the 2nd quarter worth $784,000. Algert Global LLC increased its position in Ionis Pharmaceuticals by 149.2% in the 2nd quarter. Algert Global LLC now owns 75,350 shares of the company’s stock valued at $3,591,000 after acquiring an additional 45,108 shares during the period. The Manufacturers Life Insurance Company raised its stake in Ionis Pharmaceuticals by 12.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 274,850 shares of the company’s stock valued at $13,099,000 after acquiring an additional 29,783 shares during the last quarter. Great Point Partners LLC purchased a new stake in Ionis Pharmaceuticals during the 2nd quarter valued at approximately $15,728,000. Finally, Marshall Wace LLP lifted its position in Ionis Pharmaceuticals by 1,021.5% during the 2nd quarter. Marshall Wace LLP now owns 173,199 shares of the company’s stock worth $8,255,000 after acquiring an additional 157,756 shares during the period. 93.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Joseph Klein III sold 12,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $50.00, for a total value of $600,000.00. Following the transaction, the director now owns 16,346 shares in the company, valued at approximately $817,300. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Richard S. Geary sold 2,430 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $48.00, for a total transaction of $116,640.00. Following the sale, the executive vice president now owns 85,508 shares in the company, valued at $4,104,384. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Klein III sold 12,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $50.00, for a total value of $600,000.00. Following the completion of the sale, the director now directly owns 16,346 shares of the company’s stock, valued at $817,300. The disclosure for this sale can be found here. Insiders sold 14,750 shares of company stock valued at $732,371 in the last ninety days. Insiders own 2.71% of the company’s stock.

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 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.