Brokerages forecast that Ionis Pharmaceuticals Inc (NASDAQ:IONS) will announce $142.11 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Ionis Pharmaceuticals’ earnings. The highest sales estimate is $158.44 million and the lowest is $126.00 million. Ionis Pharmaceuticals reported sales of $117.75 million during the same quarter last year, which indicates a positive year-over-year growth rate of 20.7%. The business is scheduled to issue its next earnings report on Tuesday, August 6th.

On average, analysts expect that Ionis Pharmaceuticals will report full-year sales of $780.90 million for the current fiscal year, with estimates ranging from $715.00 million to $934.00 million. For the next financial year, analysts expect that the company will report sales of $965.67 million, with estimates ranging from $653.96 million to $1.81 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Ionis Pharmaceuticals.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.19. The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $285.43 million. Ionis Pharmaceuticals had a net margin of 47.74% and a return on equity of 44.03%. The company’s revenue for the quarter was up 106.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share.

Several research analysts have recently issued reports on IONS shares. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, April 5th. JPMorgan Chase & Co. upped their price target on shares of Ionis Pharmaceuticals from $47.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. ValuEngine upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Morgan Stanley set a $71.00 price target on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $68.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $66.44.

In related news, Director Frederick T. Muto sold 8,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $72.75, for a total value of $582,000.00. Following the sale, the director now owns 17,794 shares of the company’s stock, valued at $1,294,513.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Patrick R. O’neil sold 7,654 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $84.83, for a total transaction of $649,288.82. Following the completion of the sale, the senior vice president now directly owns 27,327 shares in the company, valued at approximately $2,318,149.41. The disclosure for this sale can be found here. In the last three months, insiders sold 247,222 shares of company stock worth $19,785,950. 2.40% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. Mackay Shields LLC bought a new stake in Ionis Pharmaceuticals in the fourth quarter worth $1,818,000. Capital Investment Advisory Services LLC purchased a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at about $91,000. BB Biotech AG increased its position in shares of Ionis Pharmaceuticals by 0.9% during the fourth quarter. BB Biotech AG now owns 8,741,334 shares of the company’s stock valued at $472,557,000 after buying an additional 75,000 shares during the period. Bank of Montreal Can increased its position in shares of Ionis Pharmaceuticals by 95.2% during the fourth quarter. Bank of Montreal Can now owns 35,651 shares of the company’s stock valued at $1,928,000 after buying an additional 17,386 shares during the period. Finally, Paloma Partners Management Co purchased a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at about $3,084,000. 82.68% of the stock is currently owned by institutional investors.

Shares of NASDAQ:IONS traded down $1.79 during trading on Wednesday, hitting $62.09. 903,643 shares of the company were exchanged, compared to its average volume of 1,521,313. The company has a market capitalization of $8.71 billion, a PE ratio of 20.98 and a beta of 2.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 9.36 and a current ratio of 9.40. Ionis Pharmaceuticals has a 1-year low of $40.91 and a 1-year high of $86.58.

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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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