Q3 2017 EPS Estimates for Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Boosted by Jefferies Group
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Jefferies Group raised their Q3 2017 EPS estimates for Ionis Pharmaceuticals in a report issued on Tuesday. Jefferies Group analyst E. Yang now expects that the company will post earnings per share of $0.07 for the quarter, up from their prior estimate of ($0.31). Jefferies Group has a “Underperform” rating and a $18.00 price target on the stock. Jefferies Group also issued estimates for Ionis Pharmaceuticals’ Q4 2017 earnings at ($0.17) EPS, FY2017 earnings at ($0.16) EPS, FY2018 earnings at ($1.11) EPS, FY2019 earnings at ($0.90) EPS, FY2020 earnings at ($0.48) EPS and FY2021 earnings at ($0.32) EPS.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The company had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 17.34%. The business’s revenue was up 170.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) EPS.
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A number of other equities analysts have also recently issued reports on IONS. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Monday, July 31st. Sanford C. Bernstein assumed coverage on shares of Ionis Pharmaceuticals in a report on Thursday, July 27th. They issued a “market perform” rating and a $57.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Ionis Pharmaceuticals from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price target (up previously from $59.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $47.13.
Ionis Pharmaceuticals (IONS) opened at 45.56 on Friday. Ionis Pharmaceuticals has a 12 month low of $24.58 and a 12 month high of $60.01. The firm has a market cap of $5.65 billion, a PE ratio of 219.04 and a beta of 3.14. The company has a 50-day moving average price of $52.74 and a 200 day moving average price of $46.90.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its position in Ionis Pharmaceuticals by 62.8% in the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after buying an additional 800 shares in the last quarter. Hanseatic Management Services Inc. bought a new position in Ionis Pharmaceuticals during the first quarter worth approximately $138,000. Westpac Banking Corp bought a new position in Ionis Pharmaceuticals during the first quarter worth approximately $171,000. Cambridge Investment Research Advisors Inc. bought a new position in Ionis Pharmaceuticals during the second quarter worth approximately $222,000. Finally, Cheyne Capital Management UK LLP bought a new position in Ionis Pharmaceuticals during the second quarter worth approximately $249,000. Institutional investors and hedge funds own 88.77% of the company’s stock.
In related news, Chairman Stanley T. Crooke sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $55.35, for a total transaction of $608,850.00. Following the transaction, the chairman now owns 48,014 shares in the company, valued at $2,657,574.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP C Frank Bennett sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $59.29, for a total transaction of $592,900.00. Following the transaction, the senior vice president now owns 25,041 shares in the company, valued at approximately $1,484,680.89. The disclosure for this sale can be found here. Insiders have sold 54,379 shares of company stock worth $2,946,052 in the last quarter. Company insiders own 1.86% of the company’s stock.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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