Ionis Pharmaceuticals Inc (NASDAQ:IONS) – Equities research analysts at William Blair cut their FY2020 earnings per share (EPS) estimates for Ionis Pharmaceuticals in a note issued to investors on Monday, August 31st. William Blair analyst M. Minter now anticipates that the company will earn ($0.66) per share for the year, down from their previous estimate of ($0.56). William Blair currently has a “Hold” rating on the stock. William Blair also issued estimates for Ionis Pharmaceuticals’ Q4 2020 earnings at ($0.01) EPS, Q1 2021 earnings at $0.05 EPS, Q2 2021 earnings at ($0.46) EPS, Q3 2021 earnings at ($0.34) EPS, Q4 2021 earnings at ($0.28) EPS, FY2021 earnings at ($1.04) EPS, FY2022 earnings at ($0.60) EPS, FY2023 earnings at $0.39 EPS and FY2024 earnings at $1.77 EPS.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The company had revenue of $146.00 million during the quarter, compared to analyst estimates of $148.87 million. Ionis Pharmaceuticals had a net margin of 13.81% and a return on equity of 10.27%. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share.
A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC raised their target price on shares of Ionis Pharmaceuticals from $89.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup lowered their target price on shares of Ionis Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Royal Bank of Canada raised their target price on shares of Ionis Pharmaceuticals from $71.00 to $73.00 in a research note on Tuesday. BidaskClub downgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 13th. Finally, SVB Leerink lifted their price target on shares of Ionis Pharmaceuticals from $54.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $71.80.
IONS stock opened at $55.06 on Thursday. The firm has a 50 day moving average of $56.51 and a 200-day moving average of $55.28. The company has a current ratio of 10.94, a quick ratio of 10.84 and a debt-to-equity ratio of 0.50. Ionis Pharmaceuticals has a 12 month low of $39.32 and a 12 month high of $67.31. The firm has a market capitalization of $7.58 billion, a P/E ratio of 48.03 and a beta of 1.52.
A number of large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale raised its position in Ionis Pharmaceuticals by 2.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,078 shares of the company’s stock worth $476,000 after buying an additional 179 shares during the last quarter. M&T Bank Corp raised its position in Ionis Pharmaceuticals by 1.6% in the 2nd quarter. M&T Bank Corp now owns 12,957 shares of the company’s stock worth $765,000 after buying an additional 198 shares during the last quarter. Balentine LLC raised its position in Ionis Pharmaceuticals by 39.4% in the 2nd quarter. Balentine LLC now owns 845 shares of the company’s stock worth $50,000 after buying an additional 239 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Ionis Pharmaceuticals by 2.4% during the 1st quarter. HighTower Advisors LLC now owns 12,178 shares of the company’s stock valued at $570,000 after purchasing an additional 289 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Ionis Pharmaceuticals by 14.8% during the 1st quarter. US Bancorp DE now owns 2,279 shares of the company’s stock valued at $107,000 after purchasing an additional 294 shares during the last quarter. 85.39% of the stock is owned by institutional investors and hedge funds.
In other news, Director Breaux Castleman sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the director now owns 25,183 shares of the company’s stock, valued at approximately $1,510,980. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP C Frank Bennett sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $59.77, for a total value of $896,550.00. Following the completion of the transaction, the executive vice president now directly owns 47,364 shares of the company’s stock, valued at approximately $2,830,946.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,314 shares of company stock valued at $4,140,612. 2.40% of the stock is owned by 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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