HC Wainwright Issues Pessimistic Estimate for IONS Earnings

Key Points

• HC Wainwright cut its Q3 2026 EPS estimate to ($0.90) from ($0.80) and lowered its FY2027 forecast to ($0.81) but kept a Buy rating with a $125 price target, projecting positive quarterly EPS in parts of 2027 (Q3 2027 $0.11; Q4 2027 $0.26).
• Ionis reported quarterly EPS of ($0.56) that beat the consensus of ($0.85) and revenue of $246 million, up 86.4% year-over-year, showing improving top-line performance despite negative profitability.
• Insiders have sold 666,443 shares worth about $50.6 million in the last three months, which may concern some investors about insider conviction.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) - HC Wainwright cut their Q3 2026 earnings per share (EPS) estimates for Ionis Pharmaceuticals in a research note issued to investors on Thursday, April 30th. HC Wainwright analyst M. Kapoor now expects that the company will earn ($0.90) per share for the quarter, down from their prior estimate of ($0.80). HC Wainwright has a "Buy" rating and a $125.00 price objective on the stock. The consensus estimate for Ionis Pharmaceuticals' current full-year earnings is ($4.07) per share. HC Wainwright also issued estimates for Ionis Pharmaceuticals' Q4 2026 earnings at ($0.73) EPS, FY2026 earnings at ($3.05) EPS, Q2 2027 earnings at ($0.57) EPS, Q3 2027 earnings at $0.11 EPS, Q4 2027 earnings at $0.26 EPS and FY2027 earnings at ($0.81) EPS.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, beating analysts' consensus estimates of ($0.85) by $0.29. Ionis Pharmaceuticals had a negative return on equity of 58.65% and a negative net margin of 30.91%.The company had revenue of $246.00 million for the quarter, compared to the consensus estimate of $195.57 million. During the same quarter in the prior year, the company earned ($0.93) earnings per share. Ionis Pharmaceuticals's revenue was up 86.4% on a year-over-year basis.

A number of other research analysts also recently weighed in on IONS. Weiss Ratings reissued a "sell (d-)" rating on shares of Ionis Pharmaceuticals in a report on Tuesday, April 21st. Raymond James Financial assumed coverage on Ionis Pharmaceuticals in a report on Friday, April 10th. They issued an "outperform" rating and a $104.00 target price on the stock. TD Cowen lowered their target price on Ionis Pharmaceuticals from $110.00 to $108.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Morgan Stanley upped their price target on Ionis Pharmaceuticals from $95.00 to $130.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company upped their price target on Ionis Pharmaceuticals from $82.00 to $100.00 and gave the stock an "overweight" rating in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $99.35.

Ionis Pharmaceuticals Stock Up 0.2%

IONS stock opened at $75.45 on Tuesday. Ionis Pharmaceuticals has a fifty-two week low of $31.66 and a fifty-two week high of $86.74. The business's 50-day moving average is $75.30 and its two-hundred day moving average is $77.35. The company has a debt-to-equity ratio of 2.75, a quick ratio of 4.09 and a current ratio of 4.10. The company has a market cap of $12.47 billion, a price-to-earnings ratio of -36.45 and a beta of 0.38.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Several institutional investors have recently modified their holdings of IONS. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at approximately $25,000. Golden State Wealth Management LLC lifted its stake in shares of Ionis Pharmaceuticals by 198.4% during the 3rd quarter. Golden State Wealth Management LLC now owns 376 shares of the company's stock worth $25,000 after acquiring an additional 250 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter worth approximately $27,000. Brown Brothers Harriman & Co. bought a new stake in shares of Ionis Pharmaceuticals during the 4th quarter worth approximately $27,000. Finally, Quarry LP bought a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter worth approximately $38,000. 93.86% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Shannon L. Devers sold 6,193 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $74.05, for a total transaction of $458,591.65. Following the completion of the sale, the executive vice president owned 16,348 shares in the company, valued at approximately $1,210,569.40. This trade represents a 27.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brian Birchler sold 973 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $75.04, for a total value of $73,013.92. Following the sale, the executive vice president owned 67,500 shares of the company's stock, valued at $5,065,200. This represents a 1.42% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 666,443 shares of company stock valued at $50,623,742 in the last three months. 2.71% of the stock is currently owned by insiders.

Ionis Pharmaceuticals News Summary

Here are the key news stories impacting Ionis Pharmaceuticals this week:

• Positive Sentiment: HC Wainwright keeps a Buy rating and a $125 price target and projects a return to positive quarterly EPS in parts of 2027 (Q3 2027 $0.11; Q4 2027 $0.26) — this bullish view and high target can drive upside expectations. HC Wainwright coverage (MarketBeat)
• Positive Sentiment: HC Wainwright raised some near-term estimates (FY2026 EPS improved to -$3.05 from -$3.27, and Q4 2026 was revised to -$0.73 from -$0.84), signaling expected improvement in losses — a constructive near-term change. HC Wainwright coverage (MarketBeat)
• Positive Sentiment: RBC Capital published a Buy on IONS, adding independent broker support for upside. Ionis Receives a Buy from RBC Capital
• Neutral Sentiment: Ionis will hold a virtual Annual Meeting and corporate update on June 4 — a routine event that could provide incremental corporate guidance but is neutral on its own. Annual Meeting notice (BusinessWire)
• Neutral Sentiment: Stifel Nicolaus maintained a Hold rating on IONS, providing counterbalance to Buy calls — a neutral/contrasting view for investors weighing consensus. Stifel Keep Hold
• Negative Sentiment: Offsetting some optimism, HC Wainwright cut its FY2027 EPS forecast (now -$0.81 from -$0.35) and lowered Q3 2026 expectations to -$0.90 (from -$0.80), which signals downside risk to near-term profitability and tempers enthusiasm. HC Wainwright coverage (MarketBeat)

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company's proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis' pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.

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