-$0.51 Earnings Per Share Expected for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) This Quarter

Wall Street analysts expect that Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) will announce ($0.51) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Ionis Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.31) and the lowest estimate coming in at ($0.69). Ionis Pharmaceuticals reported earnings per share of ($0.23) in the same quarter last year, which would suggest a negative year over year growth rate of 121.7%. The company is expected to announce its next quarterly earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that Ionis Pharmaceuticals will report full-year earnings of ($1.70) per share for the current financial year, with EPS estimates ranging from ($1.94) to ($1.51). For the next fiscal year, analysts forecast that the firm will post earnings of ($1.45) per share, with EPS estimates ranging from ($2.30) to ($0.28). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, May 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.16). The firm had revenue of $112.00 million during the quarter, compared to the consensus estimate of $134.93 million. Ionis Pharmaceuticals had a negative return on equity of 41.74% and a negative net margin of 69.63%. The firm’s revenue was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) EPS.

Several brokerages have issued reports on IONS. Needham & Company LLC cut their price target on Ionis Pharmaceuticals from $95.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, March 23rd. BMO Capital Markets cut their price target on Ionis Pharmaceuticals from $90.00 to $76.00 and set an “outperform” rating on the stock in a report on Tuesday, March 23rd. Barclays cut their price target on Ionis Pharmaceuticals from $52.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 23rd. Piper Sandler dropped their target price on Ionis Pharmaceuticals from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, March 22nd. Finally, SVB Leerink lifted their price target on Ionis Pharmaceuticals from $36.00 to $41.00 and gave the stock a “market perform” rating in a report on Friday, May 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Ionis Pharmaceuticals has an average rating of “Hold” and a consensus target price of $58.05.

NASDAQ:IONS traded up $1.29 on Thursday, hitting $38.21. The stock had a trading volume of 2,579,249 shares, compared to its average volume of 1,488,690. The company’s fifty day moving average price is $39.57. The company has a market cap of $5.39 billion, a P/E ratio of -10.46 and a beta of 1.09. The company has a debt-to-equity ratio of 1.28, a quick ratio of 6.67 and a current ratio of 6.74. Ionis Pharmaceuticals has a 52 week low of $34.43 and a 52 week high of $64.37.

A number of large investors have recently added to or reduced their stakes in IONS. International Assets Investment Management LLC purchased a new stake in Ionis Pharmaceuticals in the fourth quarter worth $26,000. Harbour Investments Inc. purchased a new stake in Ionis Pharmaceuticals in the first quarter worth $27,000. Childress Capital Advisors LLC purchased a new position in shares of Ionis Pharmaceuticals in the fourth quarter valued at $31,000. Total Clarity Wealth Management Inc. purchased a new position in shares of Ionis Pharmaceuticals in the first quarter valued at $31,000. Finally, Allred Capital Management LLC purchased a new position in shares of Ionis Pharmaceuticals in the first quarter valued at $35,000. 86.17% of the stock is owned by institutional investors and hedge funds.

About Ionis Pharmaceuticals

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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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Earnings History and Estimates for Ionis Pharmaceuticals (NASDAQ:IONS)

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