FY2024 Earnings Forecast for IONS Issued By Leerink Partnrs

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Equities research analysts at Leerink Partnrs reduced their FY2024 EPS estimates for shares of Ionis Pharmaceuticals in a research note issued to investors on Tuesday, January 21st. Leerink Partnrs analyst M. Foroohar now expects that the company will post earnings of ($3.53) per share for the year, down from their previous estimate of ($3.51). The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($3.47) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals’ Q4 2024 earnings at ($1.12) EPS, FY2025 earnings at ($2.34) EPS, FY2027 earnings at ($0.85) EPS, FY2028 earnings at $0.51 EPS and FY2029 earnings at $2.30 EPS.

A number of other analysts also recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Piper Sandler dropped their price objective on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. StockNews.com lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

Ionis Pharmaceuticals Price Performance

IONS stock opened at $32.50 on Thursday. Ionis Pharmaceuticals has a twelve month low of $31.40 and a twelve month high of $52.49. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82. The business’s 50-day simple moving average is $35.28 and its 200 day simple moving average is $40.86.

Insider Activity at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 7,154 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $32.84, for a total transaction of $234,937.36. Following the transaction, the executive vice president now owns 45,670 shares of the company’s stock, valued at approximately $1,499,802.80. This represents a 13.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael R. Hayden acquired 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $36.22 per share, for a total transaction of $181,100.00. Following the completion of the transaction, the director now directly owns 35,219 shares in the company, valued at approximately $1,275,632.18. The trade was a 16.55 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 57,293 shares of company stock valued at $1,914,820 over the last ninety days. 2.71% of the stock is owned by insiders.

Institutional Trading of Ionis Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in IONS. Geode Capital Management LLC grew its position in shares of Ionis Pharmaceuticals by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock worth $106,922,000 after buying an additional 183,814 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Ionis Pharmaceuticals by 8.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock valued at $57,807,000 after acquiring an additional 114,914 shares during the last quarter. ARK Investment Management LLC grew its holdings in Ionis Pharmaceuticals by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 1,384,269 shares of the company’s stock worth $55,454,000 after acquiring an additional 23,244 shares during the period. Two Sigma Advisers LP raised its position in shares of Ionis Pharmaceuticals by 3.5% during the 3rd quarter. Two Sigma Advisers LP now owns 1,332,411 shares of the company’s stock valued at $53,376,000 after acquiring an additional 45,300 shares during the last quarter. Finally, Groupama Asset Managment lifted its stake in shares of Ionis Pharmaceuticals by 4.1% in the 3rd quarter. Groupama Asset Managment now owns 916,060 shares of the company’s stock valued at $367,000 after purchasing an additional 36,084 shares during the period. 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.