Wall Street brokerages expect Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) to report $138.19 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Ionis Pharmaceuticals’ earnings. The lowest sales estimate is $117.80 million and the highest is $166.00 million. Ionis Pharmaceuticals posted sales of $146.00 million in the same quarter last year, which suggests a negative year over year growth rate of 5.3%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 4th.
On average, analysts expect that Ionis Pharmaceuticals will report full year sales of $623.16 million for the current financial year, with estimates ranging from $606.70 million to $645.50 million. For the next year, analysts forecast that the firm will post sales of $698.78 million, with estimates ranging from $525.35 million to $874.30 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Ionis Pharmaceuticals.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, May 5th. The company reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.16). The firm had revenue of $112.00 million for the quarter, compared to analysts’ expectations of $134.93 million. Ionis Pharmaceuticals had a negative net margin of 69.63% and a negative return on equity of 41.74%. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) EPS.
A number of hedge funds have recently modified their holdings of the stock. KB Financial Partners LLC purchased a new position in Ionis Pharmaceuticals during the first quarter valued at approximately $102,000. Principal Financial Group Inc. increased its holdings in Ionis Pharmaceuticals by 8.3% during the first quarter. Principal Financial Group Inc. now owns 44,411 shares of the company’s stock valued at $1,996,000 after buying an additional 3,385 shares during the period. Virtu Financial LLC purchased a new position in Ionis Pharmaceuticals in the first quarter worth $646,000. Twin Lakes Capital Management LLC purchased a new position in Ionis Pharmaceuticals in the first quarter worth $67,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in Ionis Pharmaceuticals by 7.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 10,936 shares of the company’s stock worth $491,000 after purchasing an additional 746 shares during the last quarter. 86.17% of the stock is currently owned by institutional investors.
Shares of Ionis Pharmaceuticals stock traded up $1.29 during trading on Friday, reaching $38.21. 2,579,249 shares of the stock traded hands, compared to its average volume of 1,488,690. The firm has a market cap of $5.39 billion, a P/E ratio of -10.46 and a beta of 1.09. The firm’s fifty day moving average price is $39.57. The company has a debt-to-equity ratio of 1.28, a current ratio of 6.74 and a quick ratio of 6.67. Ionis Pharmaceuticals has a 52-week low of $34.43 and a 52-week high of $64.37.
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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.