Ionis Pharmaceuticals, Inc. Expected to Earn FY2028 Earnings of $0.78 Per Share (NASDAQ:IONS)

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Leerink Partnrs dropped their FY2028 EPS estimates for Ionis Pharmaceuticals in a report released on Wednesday, June 26th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will earn $0.78 per share for the year, down from their prior forecast of $0.88. The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($3.95) per share.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.12. The business had revenue of $119.00 million during the quarter, compared to the consensus estimate of $131.42 million. Ionis Pharmaceuticals had a negative return on equity of 107.64% and a negative net margin of 49.49%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.87) EPS.

Several other equities research analysts have also recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. Oppenheimer upped their price objective on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Wells Fargo & Company cut their target price on shares of Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Sanford C. Bernstein raised shares of Ionis Pharmaceuticals from an “underperform” rating to a “market perform” rating and set a $44.00 price target on the stock in a research note on Friday, June 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Ionis Pharmaceuticals from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $58.64.

Ionis Pharmaceuticals Stock Performance

IONS opened at $47.66 on Thursday. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of -17.85 and a beta of 0.35. Ionis Pharmaceuticals has a fifty-two week low of $35.95 and a fifty-two week high of $54.44. The company has a debt-to-equity ratio of 4.15, a quick ratio of 7.28 and a current ratio of 7.37. The company has a fifty day moving average of $40.55 and a 200 day moving average of $44.88.

Insiders Place Their Bets

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 sale, the executive vice president now directly owns 19,631 shares in the company, valued at $816,649.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total value of $166,649.60. Following the transaction, the executive vice president now directly owns 19,631 shares in the company, valued at $816,649.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Klein III sold 6,000 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $42.71, for a total transaction of $256,260.00. Following the sale, the director now owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The disclosure for this sale can be found here. 2.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake 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 buying an additional 2,856,353 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Ionis Pharmaceuticals by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,275,319 shares of the company’s stock valued at $64,518,000 after purchasing an additional 33,012 shares in the last quarter. Norges Bank purchased a new stake in shares of Ionis Pharmaceuticals in the 4th quarter worth approximately $59,288,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $48,399,000. Finally, TD Asset Management Inc boosted its stake in shares of Ionis Pharmaceuticals by 6.5% during the fourth quarter. TD Asset Management Inc now owns 956,852 shares of the company’s stock valued at $48,407,000 after purchasing an additional 58,000 shares in the last quarter. 93.86% of the stock is owned by institutional investors.

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.