Ionis Pharmaceuticals Inc (NASDAQ:IONS) – Equities research analysts at Piper Jaffray Companies lowered their Q2 2019 earnings estimates for shares of Ionis Pharmaceuticals in a report issued on Sunday, November 4th. Piper Jaffray Companies analyst T. Van. Buren now anticipates that the company will earn $0.00 per share for the quarter, down from their previous estimate of $0.05. Piper Jaffray Companies has a “Hold” rating and a $50.00 price target on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q3 2019 earnings at $0.10 EPS, Q4 2019 earnings at $0.35 EPS, FY2020 earnings at $1.50 EPS and FY2022 earnings at $4.90 EPS.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.10. The business had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $146.77 million. Ionis Pharmaceuticals had a negative return on equity of 1.22% and a negative net margin of 7.20%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) earnings per share.
Several other research firms have also recently issued reports on IONS. Stifel Nicolaus decreased their price target on Ionis Pharmaceuticals from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, August 28th. ValuEngine upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Morgan Stanley set a $45.00 target price on Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Wednesday, October 3rd. Finally, Zacks Investment Research cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $53.86.
Ionis Pharmaceuticals stock opened at $53.65 on Tuesday. The stock has a market capitalization of $7.10 billion, a P/E ratio of 670.63 and a beta of 2.39. Ionis Pharmaceuticals has a 12-month low of $39.07 and a 12-month high of $57.92. The company has a current ratio of 8.38, a quick ratio of 8.34 and a debt-to-equity ratio of 0.76.
In other Ionis Pharmaceuticals news, SVP C Frank Bennett sold 12,500 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $49.54, for a total transaction of $619,250.00. Following the transaction, the senior vice president now owns 31,896 shares in the company, valued at $1,580,127.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Brett P. Monia sold 16,493 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $54.00, for a total value of $890,622.00. Following the transaction, the chief operating officer now owns 24,834 shares in the company, valued at approximately $1,341,036. The disclosure for this sale can be found here. 2.44% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in IONS. Dimensional Fund Advisors LP lifted its holdings in shares of Ionis Pharmaceuticals by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 237,581 shares of the company’s stock valued at $10,473,000 after purchasing an additional 12,770 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 38,277 shares of the company’s stock valued at $1,687,000 after purchasing an additional 1,479 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Ionis Pharmaceuticals by 39.3% during the 1st quarter. Millennium Management LLC now owns 272,837 shares of the company’s stock valued at $12,027,000 after purchasing an additional 76,920 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Ionis Pharmaceuticals by 2.9% during the 1st quarter. Legal & General Group Plc now owns 68,452 shares of the company’s stock valued at $3,017,000 after purchasing an additional 1,925 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Ionis Pharmaceuticals by 32.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 15,030 shares of the company’s stock valued at $626,000 after purchasing an additional 3,670 shares in the last quarter. Institutional investors and hedge funds own 86.35% of the company’s stock.
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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