Q1 2024 Earnings Forecast for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Issued By Leerink Partnrs

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Research analysts at Leerink Partnrs reduced 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 anticipates that the company will post earnings per share of ($0.84) for the quarter, down from their prior forecast 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.

IONS has been the topic of several other research reports. JPMorgan Chase & Co. increased their price objective on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Bank of America upgraded Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $62.00 in a research note on Tuesday, January 2nd. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research report on Tuesday, April 9th. Royal Bank of Canada lifted their price objective on Ionis Pharmaceuticals from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, Oppenheimer boosted their target price on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.08.

Ionis Pharmaceuticals Trading Down 0.2 %

IONS opened at $40.81 on Thursday. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of -15.94 and a beta of 0.39. The stock’s 50 day moving average price is $44.07 and its 200-day moving average price is $47.30. Ionis Pharmaceuticals has a one year low of $34.32 and a one year high of $54.44. 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 (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.06) earnings per share for the quarter, topping 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 analysts’ expectations of $176.01 million. During the same period in the previous year, the firm posted ($0.37) earnings per share. The firm’s revenue for the quarter was up 113.8% on a year-over-year basis.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Ionis Pharmaceuticals by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,806,023 shares of the company’s stock worth $566,411,000 after buying an additional 605,747 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Ionis Pharmaceuticals by 4.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,678,259 shares of the company’s stock worth $441,088,000 after purchasing an additional 521,564 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Ionis Pharmaceuticals by 10.1% in the 1st quarter. Clearbridge Investments LLC now owns 6,476,033 shares of the company’s stock worth $239,872,000 after purchasing an additional 593,051 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Ionis Pharmaceuticals by 162.2% during the fourth quarter. Wellington Management Group LLP now owns 4,616,978 shares of the company’s stock valued at $233,573,000 after acquiring an additional 2,856,353 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Ionis Pharmaceuticals by 13.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,255,074 shares of the company’s stock valued at $215,265,000 after acquiring an additional 497,077 shares during the period. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Insider Buying and Selling at Ionis Pharmaceuticals

In related news, CEO Brett P. Monia sold 2,285 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.75, for a total transaction of $118,248.75. Following the completion of the transaction, the chief executive officer now owns 151,851 shares in the company, valued at $7,858,289.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Brett P. Monia sold 2,285 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.75, for a total value of $118,248.75. Following the completion of the sale, the chief executive officer now directly owns 151,851 shares of the company’s stock, valued at $7,858,289.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Baroldi sold 4,006 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total transaction of $166,649.60. Following 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. Insiders have sold a total of 51,434 shares of company stock valued at $2,556,127 over the last quarter. 2.65% of the stock is owned by company insiders.

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.