Q3 2024 Earnings Forecast for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Issued By Leerink Partnrs

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Leerink Partnrs raised their Q3 2024 EPS estimates for Ionis Pharmaceuticals in a report issued on Monday, October 14th. Leerink Partnrs analyst M. Foroohar now expects that the company will post earnings per share of ($0.91) for the quarter, up from their prior estimate of ($0.92). Leerink Partnrs 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 ($0.55) EPS, FY2024 earnings at ($2.89) EPS, FY2025 earnings at ($2.42) EPS, FY2026 earnings at ($2.04) EPS, FY2027 earnings at $0.53 EPS and FY2028 earnings at $1.88 EPS.

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

A number of other research analysts have also recently commented on the company. Guggenheim decreased their price target on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Stifel Nicolaus upped their price target on shares of Ionis Pharmaceuticals from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, June 27th. BMO Capital Markets cut shares of Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $67.00 to $60.00 in a research note on Friday, August 2nd. Finally, Barclays upped their target price on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.28.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ IONS opened at $39.16 on Thursday. The business has a fifty day moving average price of $43.55 and a two-hundred day moving average price of $43.31. The stock has a market capitalization of $5.72 billion, a PE ratio of -14.67 and a beta of 0.38. The company has a debt-to-equity ratio of 4.67, a current ratio of 7.61 and a quick ratio of 7.51. Ionis Pharmaceuticals has a fifty-two week low of $35.95 and a fifty-two week high of $54.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IONS. Wellington Management Group LLP raised its position in shares of Ionis Pharmaceuticals by 162.2% during the fourth quarter. Wellington Management Group LLP now owns 4,616,978 shares of the company’s stock worth $233,573,000 after acquiring an additional 2,856,353 shares during the last quarter. Great Point Partners LLC acquired a new stake in Ionis Pharmaceuticals during the 2nd quarter valued at approximately $15,728,000. Logos Global Management LP bought a new position in Ionis Pharmaceuticals during the 2nd quarter worth approximately $14,298,000. Zimmer Partners LP bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter valued at $11,718,000. Finally, Marshall Wace LLP increased its position in shares of Ionis Pharmaceuticals by 1,021.5% during the second quarter. Marshall Wace LLP now owns 173,199 shares of the company’s stock worth $8,255,000 after buying an additional 157,756 shares during the period. 93.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ionis Pharmaceuticals

In related news, EVP Richard S. Geary sold 2,430 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $48.00, for a total value of $116,640.00. Following the sale, the executive vice president now owns 85,508 shares of the company’s stock, valued at $4,104,384. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.71% of the company’s stock.

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.