Q2 2024 EPS Estimates for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Increased by Analyst

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Stock analysts at Leerink Partnrs boosted their Q2 2024 EPS estimates for shares of Ionis Pharmaceuticals in a report released on Wednesday, June 26th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings of ($0.75) per share for the quarter, up from their previous estimate of ($0.79). The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($3.91) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals’ Q3 2024 earnings at ($0.82) EPS, Q4 2024 earnings at ($0.80) EPS, FY2024 earnings at ($3.34) EPS, FY2025 earnings at ($2.21) EPS, FY2026 earnings at $1.61 EPS and FY2027 earnings at $1.49 EPS.

Several other analysts have also weighed in on IONS. Wolfe Research upgraded shares of Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research report on Wednesday, April 10th. Oppenheimer lifted their price target on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Stifel Nicolaus lifted their price target on shares of Ionis Pharmaceuticals from $50.00 to $53.00 and gave the company a “hold” rating in a report on Thursday. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $58.64.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock opened at $47.66 on Friday. The company has a debt-to-equity ratio of 4.15, a quick ratio of 7.28 and a current ratio of 7.37. The firm’s 50-day simple moving average is $40.55 and its 200-day simple moving average is $44.85. Ionis Pharmaceuticals has a twelve month low of $35.95 and a twelve month high of $54.44. The firm has a market cap of $6.96 billion, a P/E ratio of -17.85 and a beta of 0.35.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Tuesday, May 7th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.12. Ionis Pharmaceuticals had a negative net margin of 49.49% and a negative return on equity of 107.64%. The business had revenue of $119.00 million for the quarter, compared to analyst estimates of $131.42 million. During the same period in the previous year, the business earned ($0.87) EPS. The firm’s revenue was down 9.2% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in Ionis Pharmaceuticals during the fourth quarter valued at approximately $26,000. Pingora Partners LLC acquired a new position in Ionis Pharmaceuticals during the fourth quarter valued at approximately $25,000. Mather Group LLC. acquired a new position in Ionis Pharmaceuticals during the first quarter valued at approximately $29,000. Tennessee Valley Asset Management Partners acquired a new position in Ionis Pharmaceuticals during the fourth quarter valued at approximately $34,000. Finally, Sunbelt Securities Inc. acquired a new position in Ionis Pharmaceuticals during the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Joseph Baroldi sold 4,006 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the completion of the sale, the executive vice president now directly owns 19,631 shares of the company’s stock, valued at $816,649.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Joseph Baroldi sold 4,006 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the completion of the sale, the executive vice president now directly owns 19,631 shares of the company’s stock, valued at $816,649.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Klein III sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $42.71, for a total transaction of $256,260.00. Following the sale, the director now directly owns 16,346 shares of the company’s stock, valued at $698,137.66. The disclosure for this sale can be found here. 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.