$138.19 Million in Sales Expected for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) This Quarter

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 research analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of Ionis Pharmaceuticals from $90.00 to $76.00 and set an “outperform” rating for the company in a report on Tuesday, March 23rd. Royal Bank of Canada lowered their price target on shares of Ionis Pharmaceuticals from $76.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, March 23rd. Barclays lowered their price target on shares of Ionis Pharmaceuticals from $52.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, March 23rd. Piper Sandler lowered their price target on shares of Ionis Pharmaceuticals from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, March 22nd. Finally, TheStreet downgraded shares of Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Wednesday, February 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $58.05.

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.

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

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