Research Analysts Offer Predictions for Ionis Pharmaceuticals Inc.’s Q1 2017 Earnings (IONS)
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) – Research analysts at Jefferies Group issued their Q1 2017 earnings estimates for Ionis Pharmaceuticals in a report issued on Wednesday. Jefferies Group analyst E. Yang expects that the firm will post earnings per share of ($0.42) for the quarter. Jefferies Group has a “Sell” rating and a $17.00 price objective on the stock. Jefferies Group also issued estimates for Ionis Pharmaceuticals’ Q2 2017 earnings at ($0.41) EPS, Q3 2017 earnings at ($0.40) EPS and Q4 2017 earnings at ($0.39) EPS.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, November 9th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.02. The business earned $110.90 million during the quarter, compared to analysts’ expectations of $114.65 million. Ionis Pharmaceuticals had a negative return on equity of 120.60% and a negative net margin of 77.30%. The firm’s revenue was up 125.9% on a year-over-year basis.
Other research analysts have also issued reports about the stock. Leerink Swann reissued a “market perform” rating and issued a $40.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday. Cowen and Company restated a “market perform” rating on shares of Ionis Pharmaceuticals in a research report on Saturday, August 13th. Morgan Stanley initiated coverage on Ionis Pharmaceuticals in a research report on Tuesday, August 2nd. They issued an “equal weight” rating and a $37.00 price target for the company. Piper Jaffray Cos. restated an “overweight” rating and issued a $35.00 price target on shares of Ionis Pharmaceuticals in a research report on Friday, July 15th. Finally, Zacks Investment Research upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating and set a $41.00 price target for the company in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $41.78.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 42.57 on Friday. The stock has a 50 day moving average of $31.77 and a 200-day moving average of $30.30. The stock’s market capitalization is $5.14 billion. Ionis Pharmaceuticals has a 52-week low of $19.59 and a 52-week high of $63.71.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 11,000 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $36.61, for a total value of $402,710.00. Following the transaction, the chairman now owns 35,029 shares in the company, valued at $1,282,411.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO B Lynne Parshall sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $29.88, for a total value of $373,500.00. Following the completion of the transaction, the chief operating officer now owns 25,558 shares in the company, valued at approximately $763,673.04. The disclosure for this sale can be found here. 1.86% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of IONS. Rockefeller Financial Services Inc. bought a new position in Ionis Pharmaceuticals during the second quarter valued at about $114,000. US Bancorp DE raised its position in Ionis Pharmaceuticals by 37.8% in the second quarter. US Bancorp DE now owns 5,952 shares of the company’s stock valued at $139,000 after buying an additional 1,634 shares during the period. GAM Holding AG raised its position in Ionis Pharmaceuticals by 118.5% in the second quarter. GAM Holding AG now owns 7,727 shares of the company’s stock valued at $180,000 after buying an additional 4,191 shares during the period. Teacher Retirement System of Texas raised its position in Ionis Pharmaceuticals by 31.1% in the second quarter. Teacher Retirement System of Texas now owns 8,577 shares of the company’s stock valued at $200,000 after buying an additional 2,036 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its position in Ionis Pharmaceuticals by 1.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 8,966 shares of the company’s stock valued at $209,000 after buying an additional 140 shares during the period. Institutional investors own 89.56% of the company’s stock.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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