Brokers Issue Forecasts for Ionis Pharmaceuticals, Inc.’s Q3 2017 Earnings (IONS)

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Jefferies Group lifted their Q3 2017 earnings per share (EPS) estimates for shares of Ionis Pharmaceuticals in a report released on Tuesday. Jefferies Group analyst E. Yang now anticipates that the company will post earnings of $0.07 per share for the quarter, up from their prior forecast 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 for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The business 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 company’s revenue was up 170.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.47) earnings per share. WARNING: This piece was originally reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece can be viewed at https://www.com-unik.info/2017/08/12/brokers-issue-forecasts-for-ionis-pharmaceuticals-inc-s-q3-2017-earnings-ions.html.

A number of other equities analysts have also commented on the stock. TheStreet raised shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research note on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Ionis Pharmaceuticals in a research note on Friday, June 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Leerink Swann reaffirmed an “outperform” rating and issued a $45.00 price objective (down previously from $47.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Finally, Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note 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 stock presently has a consensus rating of “Hold” and a consensus price target of $47.13.

Ionis Pharmaceuticals (NASDAQ IONS) opened at 46.76 on Friday. Ionis Pharmaceuticals has a one year low of $24.58 and a one year high of $60.01. The firm has a market capitalization of $5.80 billion, a P/E ratio of 224.81 and a beta of 3.14. The firm has a 50-day moving average price of $52.52 and a 200 day moving average price of $46.92.

Several large investors have recently modified their holdings of the stock. Capital Investment Advisory Services LLC raised its stake in shares of Ionis Pharmaceuticals by 8.2% in the first quarter. Capital Investment Advisory Services LLC now owns 18,190 shares of the company’s stock worth $731,000 after buying an additional 1,384 shares during the period. Wrapmanager Inc. raised its stake in shares of Ionis Pharmaceuticals by 4.0% in the first quarter. Wrapmanager Inc. now owns 18,024 shares of the company’s stock worth $725,000 after buying an additional 696 shares during the period. Grandfield & Dodd LLC raised its stake in shares of Ionis Pharmaceuticals by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 12,119 shares of the company’s stock worth $487,000 after buying an additional 135 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Ionis Pharmaceuticals by 72.4% in the first quarter. Canada Pension Plan Investment Board now owns 111,410 shares of the company’s stock worth $4,479,000 after buying an additional 46,800 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of Ionis Pharmaceuticals by 12.0% in the first quarter. Janney Montgomery Scott LLC now owns 49,690 shares of the company’s stock worth $1,998,000 after buying an additional 5,314 shares during the period. 88.77% of the stock is owned by institutional investors.

In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 11,000 shares of Ionis Pharmaceuticals stock in a transaction 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 completion of the sale, the chairman now owns 48,014 shares of the company’s stock, valued at approximately $2,657,574.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Stanley T. Crooke sold 16,500 shares of Ionis Pharmaceuticals stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $52.10, for a total transaction of $859,650.00. Following the sale, the chairman now directly owns 51,476 shares of the company’s stock, valued at approximately $2,681,899.60. The disclosure for this sale can be found here. Insiders have sold a total of 54,379 shares of company stock valued at $2,946,052 in the last three months. Company insiders own 1.86% of the company’s stock.

About Ionis Pharmaceuticals

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.

Earnings History and Estimates for Ionis Pharmaceuticals (NASDAQ:IONS)

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