Ionis Pharmaceuticals (IONS) Set to Announce Quarterly Earnings on Wednesday

Ionis Pharmaceuticals (NASDAQ:IONS) is set to announce its earnings results before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of ($1.16) per share for the quarter. Ionis Pharmaceuticals has set its FY 2024 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.47. The firm had revenue of $225.00 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. On average, analysts expect Ionis Pharmaceuticals to post $-4 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Ionis Pharmaceuticals Stock Down 1.6 %

NASDAQ IONS opened at $39.71 on Wednesday. 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 $5.80 billion, a PE ratio of -14.87 and a beta of 0.38. Ionis Pharmaceuticals has a 1 year low of $35.95 and a 1 year high of $54.44. The business’s 50-day moving average is $42.14 and its 200 day moving average is $43.07.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. The Goldman Sachs Group lifted their target price on shares of Ionis Pharmaceuticals from $33.00 to $37.00 and gave the company a “sell” rating in a report on Friday, August 2nd. StockNews.com lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Insider Activity

In other news, EVP Richard S. Geary sold 2,430 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $48.00, for a total transaction of $116,640.00. Following the sale, the executive vice president now directly owns 85,508 shares in the company, valued at approximately $4,104,384. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 2,803 shares of company stock worth $134,402. 2.71% of the stock is currently owned by corporate insiders.

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.