Jefferies Financial Group Comments on Ionis Pharmaceuticals Inc’s Q3 2020 Earnings (NASDAQ:IONS)

Ionis Pharmaceuticals Inc (NASDAQ:IONS) – Equities research analysts at Jefferies Financial Group issued their Q3 2020 earnings estimates for shares of Ionis Pharmaceuticals in a report issued on Wednesday, November 6th. Jefferies Financial Group analyst E. Yang anticipates that the company will post earnings per share of $0.10 for the quarter. Jefferies Financial Group also issued estimates for Ionis Pharmaceuticals’ Q4 2020 earnings at $0.14 EPS.

Other analysts also recently issued research reports about the stock. Wells Fargo & Co boosted their price objective on shares of Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Piper Jaffray Companies decreased their price objective on shares of Ionis Pharmaceuticals from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. ValuEngine downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. Finally, Cantor Fitzgerald set a $65.00 price objective on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $73.45.

IONS stock opened at $57.06 on Friday. The company has a market cap of $7.64 billion, a P/E ratio of 19.28, a P/E/G ratio of 15.24 and a beta of 1.90. Ionis Pharmaceuticals has a 52 week low of $48.27 and a 52 week high of $86.58. The company’s 50-day moving average price is $57.99 and its 200 day moving average price is $64.32. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.49. The business had revenue of $168.00 million for the quarter, compared to the consensus estimate of $152.47 million. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 38.70%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share.

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In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 22,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $71.52, for a total value of $1,573,440.00. Following the sale, the chairman now owns 79,634 shares of the company’s stock, valued at $5,695,423.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 12,856,865 shares of the company’s stock valued at $826,311,000 after purchasing an additional 383,350 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 15.5% in the second quarter. BlackRock Inc. now owns 8,802,576 shares of the company’s stock valued at $565,743,000 after purchasing an additional 1,181,004 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Ionis Pharmaceuticals by 2,754.9% in the second quarter. Invesco Ltd. now owns 2,271,539 shares of the company’s stock valued at $145,992,000 after purchasing an additional 2,191,974 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Ionis Pharmaceuticals in the second quarter valued at about $112,814,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Ionis Pharmaceuticals by 5.9% in the second quarter. Wells Fargo & Company MN now owns 1,076,304 shares of the company’s stock valued at $69,174,000 after purchasing an additional 59,667 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Ionis Pharmaceuticals Company Profile

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

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