Leerink Partnrs Has Bearish Outlook for IONS FY2028 Earnings

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) – Equities research analysts at Leerink Partnrs reduced their FY2028 earnings per share estimates for shares of Ionis Pharmaceuticals in a report issued on Wednesday, November 6th. Leerink Partnrs analyst M. Foroohar now expects that the company will earn $1.32 per share for the year, down from their previous estimate of $1.47. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Ionis Pharmaceuticals’ current full-year earnings is ($3.73) per share.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.16) by $0.21. The company had revenue of $134.00 million during the quarter, compared to the consensus estimate of $128.99 million. Ionis Pharmaceuticals had a negative return on equity of 113.42% and a negative net margin of 44.58%.

Several other brokerages also recently commented on IONS. BMO Capital Markets downgraded Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $67.00 to $60.00 in a research note on Friday, August 2nd. Leerink Partners upgraded Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $53.00 to $62.00 in a research note on Wednesday, July 24th. Bank of America raised their target price on Ionis Pharmaceuticals from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group raised their target price on Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lowered their price target on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $60.71.

Ionis Pharmaceuticals Stock Up 1.9 %

Shares of NASDAQ IONS opened at $39.19 on Friday. Ionis Pharmaceuticals has a 52 week low of $35.95 and a 52 week high of $54.44. The business has a 50-day simple moving average of $40.65 and a two-hundred day simple moving average of $42.92. The company has a quick ratio of 7.51, a current ratio of 7.61 and a debt-to-equity ratio of 4.67. The company has a market cap of $5.73 billion, a P/E ratio of -16.06 and a beta of 0.39.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Large investors have recently modified their holdings of the company. Great Point Partners LLC purchased a new position in Ionis Pharmaceuticals in the 2nd quarter worth approximately $15,728,000. International Assets Investment Management LLC increased its stake in 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 purchasing an additional 319,065 shares during the period. Logos Global Management LP purchased a new position in Ionis Pharmaceuticals in the 2nd quarter worth approximately $14,298,000. Zimmer Partners LP purchased a new position in Ionis Pharmaceuticals in the 1st quarter worth approximately $11,718,000. Finally, Marshall Wace LLP increased its stake in Ionis Pharmaceuticals by 1,021.5% in the 2nd quarter. Marshall Wace LLP now owns 173,199 shares of the company’s stock worth $8,255,000 after purchasing an additional 157,756 shares during the period. 93.86% of the stock is owned by hedge funds and other 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.