) - Jefferies Financial Group released their Q2 2023 earnings (EPS) estimates for Ionis Pharmaceuticals. The report was issued Wednesday, February 22nd. E. Yang, a Jefferies Financial Group analyst, expects the company to post earnings per share ($0.86) for this quarter. Current full-year earnings estimates for Ionis Pharmaceuticals are ($1.97) per share. Other brokerages have also expressed interest in IONS. Barclays lowered their price objective for Ionis Pharmaceuticals to $44.00 and gave the company an equal weight rating in a research note dated Thursday, February 23rd. SVB Securities reduced their target price for Ionis Pharmaceuticals to $34.00 from $27.00 in a research paper on Thursday, February 23rd. Morgan Stanley reduced Ionis Pharmaceuticals' 'overweight' rating from a 'equal weight rating, and decreased their target price of the stock from $56.00 - $40.00 in a research report on Wednesday, December 21st. Citigroup raised their target price for Ionis Pharmaceuticals to $28.00 to $31.00, and gave the stock a "sell" rating in a research report on Thursday, November 10. Piper Sandler raised their price target for Ionis Pharmaceuticals to $60.00 from $62.00. The stock was then given an 'overweight’ rating in a report that was published on Thursday, January 19. The stock has been rated by one investment analyst with a sell rating. Four others have given the stock a hold rating while six have given the stock a buy rating. MarketBeat data shows that the stock currently has a consensus rating ('Hold') and an average target price ($47.92.
Ionis Pharmaceuticals Trading down 0.9 %
On Monday, the stock opened at $35.90. Ionis Pharmaceuticals' twelve-month low was $31.46 and its twelve-month high was $48.82. Current ratio is 7.07, quick ratio 7.00, and debt-to-equity ratio 2.06. Stock has a simple moving average for 50 days of $38.86, and a simple moving average for 200 days of $41.69. Market capitalization is $5.13 billion. The stock has a PE ratio (-18.89) and a beta (0.55).
The company last released its quarterly earnings data on Wednesday February 22nd. Analyst consensus estimates of $0.66 were beaten by the company's ($0.37) earnings per stock for the quarter. Ionis Pharmaceuticals had a negative return-on-equity of 43.01%, and a negative net profit of 45.75%. Analysts expected the business to generate revenue of $160.21million, but it had $152.00 million. The firm earned $1.41 per share during the same period last year. Revenue for the company was down 65.5% year-over-year.
Institutional Investors Are Interested in Ionis Pharmaceuticals
Hedge funds and institutional investors have modified their holdings in the company. Price T Rowe Associates Inc. MD increased its holdings of shares in Ionis Pharmaceuticals by 4.9% during the second quarter. Price T Rowe Associates Inc. MD now has 15,056,046 shares in the stock of the company worth $557,375,000. This is after it acquired an additional 705,586 shares. Vanguard Group Inc. increased its stake in Ionis Pharmaceuticals to 5.0% during the third quarter. Vanguard Group Inc. now has 12,806,023 shares, which is worth $566.411,000. T. Rowe Price Investment Management Inc. increased its stake in Ionis Pharmaceuticals to 4.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now has 11,678,259 shares, which is worth $441,088,000. It also purchased an additional 521 564, shares during the quarter. Clearbridge Investments LLC increased its stake in Ionis Pharmaceuticals to 10.1% during the first quarter. Clearbridge Investments LLC now holds 6,476,033 shares, which is worth $239,872,000. It also purchased an additional 593.051 shares during the quarter. Tweedy Browne Co LLC increased its stake in Ionis Pharmaceuticals to 30.0% during the fourth quarter. Tweedy Browne Co LLC now has 3,541,136 shares of company stock, valued at $133.749,000. It also bought an additional 818.148 shares during the quarter. 87.32% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In a transaction that took place Monday, February 6th, 1,815 shares were sold. The stock was purchased at an average price $40.79 for $74,033.85. The executive vice president now holds 31,941 shares of the company. This transaction is valued at $1,302,873.39. In a transaction that took place Monday, February 6th, 1,815 shares were sold. The stock was purchased at an average price $40.79 for $74,033.85. The executive vice president now holds 31,941 shares of the company. This transaction is valued at $1,302,873.39. In a transaction that took place on Tuesday, January 17th, 2000 shares of stock were sold. The stock was purchased at an average price $40.00 and has a total of $80,000.00. The director now has 16,791 shares of the company's stock, which is valued at $671,640. Insiders sold $2,961,208 worth of stock in the last 90 days. Insiders hold 2.36% of company stock.
About Ionis Pharmaceuticals
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Ionis Pharmaceuticals, Inc is involved in the development and marketing of therapeutic drugs for humans using antisense technology. It is represented by the Akcea Therapeutics and Ionis Core segments. Ionis Core uses a unique platform for drug discovery to create a pipeline of drugs. The Akcea Therapeutics segment is responsible for developing and commercializing drugs for cardiometabolic disorders.
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