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

Ionis Pharmaceuticals (NASDAQ:IONS) will be releasing its earnings data before the market opens on Tuesday, May 7th. Analysts expect Ionis Pharmaceuticals to post earnings of ($1.07) per share for the quarter. Ionis Pharmaceuticals has set its FY 2024 guidance at EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.72. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The company had revenue of $325.00 million for the quarter, compared to analyst estimates of $176.01 million. During the same period last year, the company posted ($0.37) earnings per share. The firm’s revenue was up 113.8% compared to the same quarter last year. On average, analysts expect Ionis Pharmaceuticals to post $-4 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Ionis Pharmaceuticals Stock Down 0.4 %

Shares of IONS stock traded down $0.18 during trading hours on Tuesday, reaching $41.81. The company had a trading volume of 89,541 shares, compared to its average volume of 1,111,710. The stock’s fifty day simple moving average is $43.23 and its 200 day simple moving average is $47.14. The company has a market capitalization of $6.09 billion, a P/E ratio of -16.40 and a beta of 0.39. The company has a debt-to-equity ratio of 3.18, a quick ratio of 5.83 and a current ratio of 5.90. Ionis Pharmaceuticals has a twelve month low of $34.32 and a twelve month high of $54.44.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Joseph Baroldi sold 4,006 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total value of $166,649.60. Following the transaction, the executive vice president now directly owns 19,631 shares in the company, valued at approximately $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 firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total value of $166,649.60. Following the sale, the executive vice president now owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brett P. Monia sold 23,501 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $49.37, for a total value of $1,160,244.37. Following the transaction, the chief executive officer now owns 174,138 shares of the company’s stock, valued at $8,597,193.06. The disclosure for this sale can be found here. Insiders sold a total of 42,699 shares of company stock worth $2,104,091 over the last 90 days. Insiders own 2.65% of the company’s stock.

Wall Street Analysts Forecast Growth

IONS has been the topic of a number of analyst reports. Wolfe Research upgraded shares of Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Wednesday, April 10th. Piper Sandler boosted their price objective on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. JPMorgan Chase & Co. lifted their target price on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Finally, Bank of America upgraded Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $62.00 in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.08.

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.