FY2024 Earnings Forecast for IONS Issued By Leerink Partnrs

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Analysts at Leerink Partnrs increased their FY2024 EPS estimates for Ionis Pharmaceuticals in a note issued to investors on Wednesday, November 6th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings per share of ($3.07) for the year, up from their prior estimate of ($3.20). Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($3.69) per share. Leerink Partnrs also issued estimates for Ionis Pharmaceuticals’ Q4 2024 earnings at ($0.69) EPS, FY2025 earnings at ($2.28) EPS, FY2026 earnings at ($2.02) EPS and FY2027 earnings at ($0.55) EPS.

Several other brokerages have also weighed in on IONS. Guggenheim lowered their price objective on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Jefferies Financial Group started coverage on Ionis Pharmaceuticals in a research report on Tuesday, July 16th. They set a “buy” rating and a $75.00 price target on the stock. StockNews.com downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday. The Goldman Sachs Group increased their target price on shares of Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Finally, TD Cowen lifted their price target on shares of Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.71.

Ionis Pharmaceuticals Price Performance

Shares of IONS stock opened at $38.88 on Monday. The firm has a fifty day moving average of $40.48 and a two-hundred day moving average of $42.91. The firm has a market cap of $6.14 billion, a P/E ratio of -15.93 and a beta of 0.39. Ionis Pharmaceuticals has a 1-year low of $35.95 and a 1-year high of $54.44. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 7.51.

Institutional Trading of Ionis Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Great Point Partners LLC bought a new stake in Ionis Pharmaceuticals during the second quarter worth approximately $15,728,000. International Assets Investment Management LLC raised its stake in shares of Ionis Pharmaceuticals by 3,287.0% in the 3rd quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock worth $13,171,000 after buying an additional 319,065 shares in the last quarter. Logos Global Management LP acquired a new stake in shares of Ionis Pharmaceuticals in the second quarter valued at $14,298,000. Zimmer Partners LP acquired a new stake in shares of Ionis Pharmaceuticals in the first quarter valued at $11,718,000. Finally, Marshall Wace LLP boosted its stake in Ionis Pharmaceuticals by 1,021.5% during the second quarter. Marshall Wace LLP now owns 173,199 shares of the company’s stock valued at $8,255,000 after buying an additional 157,756 shares in the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.

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; 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.