Q1 2024 EPS Estimates for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Lowered by Analyst

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Leerink Partnrs decreased their Q1 2024 earnings per share estimates for shares of Ionis Pharmaceuticals in a report released on Tuesday, April 16th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will earn ($0.84) per share for the quarter, down from their previous estimate of ($0.80). The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($4.00) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals’ Q2 2024 earnings at ($0.82) EPS, Q3 2024 earnings at ($0.89) EPS, Q4 2024 earnings at ($0.96) EPS, FY2025 earnings at ($2.17) EPS and FY2028 earnings at $1.01 EPS.

Several other brokerages also recently weighed in on IONS. JPMorgan Chase & Co. increased their target price on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Wolfe Research upgraded Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Wednesday, April 10th. StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Oppenheimer increased their target price on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.08.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ:IONS opened at $40.91 on Thursday. The business has a 50 day moving average price of $44.25 and a 200 day moving average price of $47.35. Ionis Pharmaceuticals has a twelve month low of $34.32 and a twelve month high of $54.44. The company has a market cap of $5.96 billion, a price-to-earnings ratio of -15.98 and a beta of 0.39. The company has a quick ratio of 5.83, a current ratio of 5.90 and a debt-to-equity ratio of 3.18.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.72. The company had revenue of $325.00 million during the quarter, compared to the consensus estimate of $176.01 million. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The firm’s revenue was up 113.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.37) EPS.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of hedge funds have recently modified their holdings of IONS. Pingora Partners LLC acquired a new stake in Ionis Pharmaceuticals during the 4th quarter valued at $25,000. GAMMA Investing LLC acquired a new stake in Ionis Pharmaceuticals during the 4th quarter valued at $26,000. Mather Group LLC. acquired a new stake in Ionis Pharmaceuticals during the 1st quarter valued at $29,000. Tennessee Valley Asset Management Partners acquired a new stake in Ionis Pharmaceuticals during the 4th quarter valued at $34,000. Finally, Peoples Bank KS acquired a new stake in Ionis Pharmaceuticals during the 3rd quarter valued at $39,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP Joseph Baroldi sold 4,006 shares of the 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 completion of the transaction, the executive vice president now directly owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Patrick R. O’neil sold 6,450 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $51.75, for a total value of $333,787.50. Following the completion of the transaction, the executive vice president now directly owns 46,802 shares of the company’s stock, valued at approximately $2,422,003.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph Baroldi sold 4,006 shares of the 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 completion of the transaction, the executive vice president now directly owns 19,631 shares of the company’s stock, valued at $816,649.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,434 shares of company stock valued at $2,556,127. Corporate insiders own 2.65% of the company’s stock.

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 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.