Research Analysts Offer Predictions for Ionis Pharmaceuticals Inc.’s FY2016 Earnings (IONS)
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) – Equities research analysts at Leerink Swann issued their FY2016 earnings estimates for shares of Ionis Pharmaceuticals in a report issued on Thursday. Leerink Swann analyst P. Matteis expects that the firm will post earnings per share of ($1.18) for the year. Leerink Swann currently has a “Market Perform” rating and a $40.00 target price on the stock. Leerink Swann also issued estimates for Ionis Pharmaceuticals’ Q4 2016 earnings at ($0.25) EPS, FY2017 earnings at ($0.03) EPS and FY2018 earnings at ($0.86) EPS.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, November 9th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by $0.02. Ionis Pharmaceuticals had a negative return on equity of 120.60% and a negative net margin of 77.30%. The company earned $110.90 million during the quarter, compared to analysts’ expectations of $114.65 million. The company’s revenue for the quarter was up 125.9% on a year-over-year basis.
Several other equities research analysts have also recently weighed in on IONS. Needham & Company LLC raised their price objective on shares of Ionis Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, August 1st. BMO Capital Markets lifted their price target on shares of Ionis Pharmaceuticals from $25.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, August 1st. Morgan Stanley initiated coverage on shares of Ionis Pharmaceuticals in a research report on Tuesday, August 2nd. They set an “equal weight” rating and a $37.00 price target for the company. Barclays PLC lifted their price target on shares of Ionis Pharmaceuticals from $26.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 2nd. Finally, Cowen and Company reiterated a “buy” rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Ionis Pharmaceuticals has an average rating of “Hold” and an average target price of $41.78.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 42.57 on Monday. The firm has a 50-day moving average of $31.77 and a 200-day moving average of $30.30. Ionis Pharmaceuticals has a 52-week low of $19.59 and a 52-week high of $63.71. The stock’s market cap is $5.14 billion.
Several hedge funds have recently made changes to their positions in the company. Brown Advisory Securities LLC acquired a new stake in shares of Ionis Pharmaceuticals during the third quarter worth approximately $271,000. Checchi Capital Advisers LLC raised its stake in shares of Ionis Pharmaceuticals by 0.9% in the third quarter. Checchi Capital Advisers LLC now owns 22,185 shares of the company’s stock worth $813,000 after buying an additional 192 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Ionis Pharmaceuticals by 7.4% in the third quarter. Pacer Advisors Inc. now owns 10,347 shares of the company’s stock worth $379,000 after buying an additional 710 shares in the last quarter. BB Biotech AG raised its stake in shares of Ionis Pharmaceuticals by 0.8% in the third quarter. BB Biotech AG now owns 7,163,172 shares of the company’s stock worth $262,459,000 after buying an additional 58,334 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Ionis Pharmaceuticals by 1.5% in the third quarter. Principal Financial Group Inc. now owns 25,251 shares of the company’s stock worth $925,000 after buying an additional 380 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP C Frank Bennett sold 5,000 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $34.00, for a total value of $170,000.00. Following the sale, the senior vice president now owns 15,803 shares of the company’s stock, valued at $537,302. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO B Lynne Parshall sold 12,500 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $29.88, for a total transaction of $373,500.00. Following the completion of the sale, the chief operating officer now directly 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 currently owned by company insiders.
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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