Ionis Pharmaceuticals (IONS) to Release Earnings on Tuesday

Ionis Pharmaceuticals (NASDAQ:IONS) will be issuing its quarterly earnings data before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of ($1.07) per share for the quarter. Ionis Pharmaceuticals has set its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $176.01 million. During the same period in the previous year, the business earned ($0.37) EPS. 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 NASDAQ:IONS traded down $0.18 during trading on Tuesday, reaching $41.81. 89,541 shares of the stock were exchanged, compared to its average volume of 1,111,710. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of -16.40 and a beta of 0.39. The company has a debt-to-equity ratio of 3.18, a current ratio of 5.90 and a quick ratio of 5.83. Ionis Pharmaceuticals has a 1-year low of $34.32 and a 1-year high of $54.44. The stock has a fifty day moving average of $43.23 and a two-hundred day moving average of $47.14.

Insider Transactions at Ionis Pharmaceuticals

In other news, CEO Brett P. Monia sold 23,501 shares of the stock in a transaction on Friday, February 2nd. The shares were 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 approximately $8,597,193.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Eric Swayze sold 10,773 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $52.00, for a total value of $560,196.00. Following the completion of the sale, the executive vice president now owns 32,516 shares of the company’s stock, valued at approximately $1,690,832. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett P. Monia sold 23,501 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $49.37, for a total transaction of $1,160,244.37. Following the transaction, the chief executive officer now directly owns 174,138 shares in the company, valued at approximately $8,597,193.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,699 shares of company stock valued at $2,104,091. 2.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IONS. Oppenheimer increased their target price on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Bank of America upgraded Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $62.00 in a research note on Tuesday, January 2nd. Wolfe Research upgraded shares of 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. JPMorgan Chase & Co. boosted their price objective on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Finally, StockNews.com raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently 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.