The mean of analysts' price targets for Ionis Pharmaceuticals (IONS) points to a 55.9% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
Ionis Pharmaceuticals (IONS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Ionis Pharmaceuticals (IONS) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
IONS reports better-than-expected top and bottom-line numbers for the third quarter of 2024.
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS ) Q3 2024 Earnings Conference Call November 6, 2024 11:30 AM ET Company Participants Wade Walke – Senior Vice President of Investor Relations Brett Monia – Chief Executive Officer Eugene Schneider – Chief Clinical Development Officer Kyle Jenne – Chief Global Product Strategy Officer Beth Hougen – Chief Financial Officer Jonathan Birchall – Chief Commercial Officer Eric Swayze – Executive Vice President of Research Richard Geary – Chief Development Officer Conference Call Participants Gary Nachman – Raymond James Jessica Fye – JPMorgan Avi Novick – Morgan Stanley Yanan Zhu – Wells Fargo Securities Luca Issi – RBC David Lebowitz – Citi Jason Gerberry – Bank of America Jay Olson – Oppenheimer Mani Foroohar – Leerink Andy Chen – Wolfe Research Operator Good morning and welcome to the Ionis Third Quarter 2024 Financial Results Conference Call. As a reminder, this call is being recorded.
The headline numbers for Ionis Pharmaceuticals (IONS) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Ionis Pharmaceuticals (IONS) came out with a quarterly loss of $0.95 per share versus the Zacks Consensus Estimate of a loss of $1.16. This compares to loss of $1.03 per share a year ago.
Besides Wall Street's top -and-bottom-line estimates for Ionis Pharmaceuticals (IONS), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2024.
Ionis Pharmaceuticals (IONS) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Ionis is a promising biotech with a strong late-stage pipeline and lucrative Big Pharma partnerships, despite current weak commercial revenues and heavy losses. The company has five FDA-approved drugs and expects significant revenue growth from upcoming approvals, particularly Wainua in ATTR-CM and Olezarsen in SHTG. Ionis' innovative antisense and siRNA technologies target RNA to treat various diseases, with potential multi-billion dollar peak revenue drugs nearing commercial approval.
AstraZeneca PLC (LSE:AZN) and Ionis Pharmaceuticals' (NASDAQ:IONS) drug Wainzua (eplontersen) has been recommended for approval in the European Union for treating hereditary transthyretin-mediated amyloidosis, a rare disease that damages nerves and leads to disability. The green light is based on a successful phase III trial, showing the drug improved patients' nerve function and quality of life compared to a placebo.
The FDA bestows a Fast Track designation to Ionis' investigational candidate, zilganersen, for treating a rare neurological disorder called Alexander disease.