Ionis Pharmaceuticals Inc (NASDAQ:IONS) – Equities research analysts at Piper Jaffray Companies dropped their Q2 2019 earnings per share (EPS) estimates for shares of Ionis Pharmaceuticals in a research report issued on Sunday, November 4th. Piper Jaffray Companies analyst T. Van. Buren now forecasts that the company will post earnings per share of $0.00 for the quarter, down from their prior estimate of $0.05. Piper Jaffray Companies has a “Hold” rating and a $50.00 price target on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q3 2019 earnings at $0.10 EPS, Q4 2019 earnings at $0.35 EPS, FY2020 earnings at $1.50 EPS and FY2022 earnings at $4.90 EPS.
A number of other analysts have also weighed in on IONS. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $52.00 target price for the company in a research note on Tuesday, July 10th. Stifel Nicolaus lowered their target price on Ionis Pharmaceuticals from $55.00 to $48.00 and set a “hold” rating for the company in a research note on Tuesday, August 7th. Morgan Stanley lowered their target price on Ionis Pharmaceuticals from $51.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 8th. Finally, ValuEngine upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $53.86.
Shares of NASDAQ:IONS opened at $53.65 on Tuesday. Ionis Pharmaceuticals has a twelve month low of $39.07 and a twelve month high of $57.92. The firm has a market capitalization of $7.10 billion, a PE ratio of 670.63 and a beta of 2.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 8.38 and a quick ratio of 8.34.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Tuesday, November 6th. The company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.10. Ionis Pharmaceuticals had a negative return on equity of 1.22% and a negative net margin of 7.20%. The company had revenue of $145.40 million during the quarter, compared to analyst estimates of $146.77 million. During the same period last year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year.
In related news, COO Brett P. Monia sold 16,493 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $54.00, for a total value of $890,622.00. Following the completion of the sale, the chief operating officer now directly owns 24,834 shares in the company, valued at $1,341,036. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP C Frank Bennett sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $49.54, for a total value of $619,250.00. Following the completion of the sale, the senior vice president now owns 31,896 shares of the company’s stock, valued at $1,580,127.84. The disclosure for this sale can be found here. 2.44% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. United Services Automobile Association increased its position in Ionis Pharmaceuticals by 5.9% in the second quarter. United Services Automobile Association now owns 20,290 shares of the company’s stock worth $845,000 after purchasing an additional 1,125 shares during the period. BTG Pactual Global Asset Management Ltd increased its position in Ionis Pharmaceuticals by 4.3% in the second quarter. BTG Pactual Global Asset Management Ltd now owns 29,898 shares of the company’s stock worth $1,246,000 after purchasing an additional 1,236 shares during the period. Bank of Montreal Can increased its position in Ionis Pharmaceuticals by 7.3% in the second quarter. Bank of Montreal Can now owns 18,950 shares of the company’s stock worth $789,000 after purchasing an additional 1,288 shares during the period. Motley Fool Wealth Management LLC increased its position in Ionis Pharmaceuticals by 0.3% in the third quarter. Motley Fool Wealth Management LLC now owns 536,670 shares of the company’s stock worth $27,681,000 after purchasing an additional 1,374 shares during the period. Finally, Principal Financial Group Inc. increased its position in Ionis Pharmaceuticals by 4.0% in the first quarter. Principal Financial Group Inc. now owns 38,277 shares of the company’s stock worth $1,687,000 after purchasing an additional 1,479 shares during the period. Hedge funds and other institutional investors own 86.35% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
Read More: How analysts view the yield curve
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.