Ionis Pharmaceuticals (IONS) Expected to Beat Earnings Estimates: Should You Buy?

Core Viewpoint - Ionis Pharmaceuticals (IONS) is anticipated to report a year-over-year decline in earnings due to lower revenues, which could significantly influence its near-term stock price depending on how actual results compare to estimates [1][2]. Earnings Expectations - The earnings report is scheduled for August 1, 2024, with expectations of a quarterly loss of $0.99 per share, reflecting a 65% decrease year-over-year [5][6]. - Revenues are projected to be $144.64 million, representing a 23.1% decline from the same quarter last year [6]. Analyst Insights - The Zacks Consensus Estimate has been revised 3.26% higher in the last 30 days, indicating a reassessment of earnings expectations by analysts [6]. - The Most Accurate Estimate for Ionis Pharmaceuticals is higher than the Zacks Consensus Estimate, leading to a positive Earnings ESP of +17.17%, suggesting a likelihood of beating the consensus EPS estimate [14][15]. Historical Performance - In the last reported quarter, Ionis Pharmaceuticals was expected to post a loss of $1.10 per share but actually reported a loss of $0.98, resulting in a surprise of +10.91% [18]. - Over the past four quarters, the company has exceeded consensus EPS estimates three times [19]. Zacks Rank and Predictive Power - The company currently holds a Zacks Rank of 3, indicating a hold position [21]. - A positive Earnings ESP combined with a solid Zacks Rank enhances the predictive power of earnings surprises, with a historical success rate of nearly 70% for stocks with this combination [9].