Piper Jaffray Companies Weighs in on Ionis Pharmaceuticals Inc’s Q1 2019 Earnings (NASDAQ:IONS)

Ionis Pharmaceuticals Inc (NASDAQ:IONS) – Research analysts at Piper Jaffray Companies reduced their Q1 2019 earnings per share (EPS) estimates for shares of Ionis Pharmaceuticals in a report released on Tuesday, April 16th, according to Zacks Investment Research. Piper Jaffray Companies analyst T. Van. Buren now forecasts that the company will post earnings per share of $0.70 for the quarter, down from their prior estimate of $1.05. Piper Jaffray Companies currently has a “Neutral” rating and a $75.00 target price on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q2 2019 earnings at ($0.25) EPS, Q3 2019 earnings at ($0.20) EPS, Q4 2019 earnings at ($0.20) EPS, FY2019 earnings at $0.05 EPS, Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.20 EPS, Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.25 EPS and FY2020 earnings at $0.95 EPS.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Thursday, May 9th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.19. The business had revenue of $297.00 million for the quarter, compared to analyst estimates of $285.43 million. Ionis Pharmaceuticals had a net margin of 47.74% and a return on equity of 49.13%. The business’s quarterly revenue was up 106.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS.

Several other research firms have also weighed in on IONS. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Wednesday, April 10th. ValuEngine upgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th. JPMorgan Chase & Co. boosted their price objective on shares of Ionis Pharmaceuticals from $47.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. BMO Capital Markets boosted their price objective on shares of Ionis Pharmaceuticals to $96.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Finally, Cantor Fitzgerald began coverage on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. They issued a “neutral” rating and a $68.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.44.

Shares of NASDAQ:IONS traded up $1.92 during midday trading on Friday, hitting $69.28. 1,347,381 shares of the company’s stock traded hands, compared to its average volume of 1,548,228. The company has a current ratio of 7.88, a quick ratio of 7.85 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 23.41 and a beta of 2.31. Ionis Pharmaceuticals has a twelve month low of $40.91 and a twelve month high of $86.58.

In other news, Director Frederick T. Muto sold 8,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $72.75, for a total value of $582,000.00. Following the completion of the sale, the director now owns 17,794 shares of the company’s stock, valued at approximately $1,294,513.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard S. Geary sold 999 shares of the business’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $60.00, for a total transaction of $59,940.00. Following the completion of the sale, the senior vice president now directly owns 21,442 shares of the company’s stock, valued at approximately $1,286,520. The disclosure for this sale can be found here. Insiders sold a total of 400,592 shares of company stock valued at $29,395,319 in the last three months. Insiders own 2.44% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IONS. Vanguard Group Inc grew its position in shares of Ionis Pharmaceuticals by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 11,091,298 shares of the company’s stock valued at $572,089,000 after buying an additional 157,770 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Ionis Pharmaceuticals by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,091,298 shares of the company’s stock valued at $572,089,000 after buying an additional 157,770 shares during the last quarter. BB Biotech AG grew its position in shares of Ionis Pharmaceuticals by 0.9% during the 4th quarter. BB Biotech AG now owns 8,741,334 shares of the company’s stock valued at $472,557,000 after buying an additional 75,000 shares during the last quarter. BlackRock Inc. grew its position in shares of Ionis Pharmaceuticals by 2.9% during the 4th quarter. BlackRock Inc. now owns 7,676,257 shares of the company’s stock valued at $414,977,000 after buying an additional 213,000 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Ionis Pharmaceuticals by 16.7% during the 1st quarter. First Trust Advisors LP now owns 2,591,839 shares of the company’s stock valued at $210,380,000 after buying an additional 370,977 shares during the last quarter. 84.28% 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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