William Blair Has Negative Outlook of IONS FY2029 Earnings

Key Points

• William Blair has lowered its FY2029 earnings per share estimate for Ionis Pharmaceuticals to $4.63 from a previous forecast of $4.69, while the consensus estimate remains at a loss of ($3.50) per share.
• Multiple analysts have adjusted their target prices for Ionis Pharmaceuticals, with the highest target set at $82.00 by Wells Fargo and a current average target price of $60.85, reflecting a Moderate Buy consensus rating.
• Insider trading activity has seen executives at Ionis Pharmaceuticals selling a significant number of shares recently, including EVP Eugene Schneider and C Frank Bennett, indicating a potential lack of confidence in the stock's near-term performance.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) - Stock analysts at William Blair lowered their FY2029 earnings per share estimates for Ionis Pharmaceuticals in a research note issued to investors on Thursday, August 21st. William Blair analyst M. Minter now expects that the company will post earnings per share of $4.63 for the year, down from their previous forecast of $4.69. The consensus estimate for Ionis Pharmaceuticals' current full-year earnings is ($3.50) per share.

A number of other research analysts have also recently weighed in on the company. Needham & Company LLC reduced their target price on Ionis Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Guggenheim cut their price target on Ionis Pharmaceuticals from $65.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company boosted their price objective on Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Friday. HC Wainwright boosted their price objective on Ionis Pharmaceuticals from $65.00 to $70.00 and gave the company a "buy" rating in a report on Friday. Finally, Wall Street Zen raised Ionis Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.85.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock opened at $42.69 on Monday. Ionis Pharmaceuticals has a twelve month low of $23.95 and a twelve month high of $50.43. The stock has a market capitalization of $6.80 billion, a P/E ratio of -23.20 and a beta of 0.25. The company has a current ratio of 2.87, a quick ratio of 2.86 and a debt-to-equity ratio of 0.99. The business's fifty day moving average price is $41.38 and its 200 day moving average price is $35.14.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.51. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 28.25%.The firm had revenue of $452.00 million for the quarter, compared to analysts' expectations of $270.90 million. During the same quarter last year, the firm earned ($0.45) earnings per share. The firm's revenue for the quarter was up 100.9% compared to the same quarter last year. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS.

Institutional Trading of Ionis Pharmaceuticals

Several large investors have recently added to or reduced their stakes in IONS. Marex Group plc acquired a new position in shares of Ionis Pharmaceuticals in the second quarter worth $3,294,000. CANADA LIFE ASSURANCE Co boosted its holdings in Ionis Pharmaceuticals by 6.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 46,501 shares of the company's stock valued at $1,841,000 after acquiring an additional 2,648 shares during the period. Corient Private Wealth LLC boosted its holdings in Ionis Pharmaceuticals by 0.3% during the second quarter. Corient Private Wealth LLC now owns 237,931 shares of the company's stock valued at $9,401,000 after acquiring an additional 798 shares during the period. Vestal Point Capital LP bought a new stake in Ionis Pharmaceuticals during the second quarter valued at about $19,755,000. Finally, Vident Advisory LLC bought a new stake in Ionis Pharmaceuticals during the second quarter valued at about $474,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ionis Pharmaceuticals

In other news, EVP Eugene Schneider sold 9,549 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $42.80, for a total transaction of $408,697.20. Following the completion of the sale, the executive vice president owned 51,507 shares in the company, valued at approximately $2,204,499.60. This represents a 15.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP C Frank Bennett sold 10,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $43.98, for a total value of $439,800.00. Following the sale, the executive vice president owned 93,466 shares of the company's stock, valued at $4,110,634.68. This trade represents a 9.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,141 shares of company stock worth $1,644,606. 2.71% of the stock is owned by corporate insiders.

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.

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