Overview Dividends

(IONS) Ionis Pharmaceuticals - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US4622221004

Triglyceride, Amyloidosis, SMA, ALS, Hypertriglyceridemia

IONS EPS (Earnings per Share)

EPS Growth (3Y CAGR): 135.33%
EPS Trend (3Y Correlation): 46.5%

IONS Revenue

Revenue Growth (3Y CAGR): 1.14%
Revenue Trend (3Y Correlation): 28.4%

Risk via 10d forecast
Volatility	43.9%
Value at Risk 5%th	65.2%
Relative Tail Risk	-9.75%

Reward TTM
Sharpe Ratio	1.32
Alpha	68.20

Character TTM
Hurst Exponent	0.405
Beta	0.769
Beta Downside	0.792

Drawdowns 3y
Max DD	52.36%
Mean DD	17.24%
Median DD	15.51%

Description: IONS Ionis Pharmaceuticals November 06, 2025

Ionis Pharmaceuticals (NASDAQ:IONS) is a commercial-stage biotech focused on RNA-targeted therapeutics, with FDA-approved products spanning rare metabolic, neuromuscular and neurodegenerative diseases, including TRYNGOLZA (familial chylomicronemia syndrome), WAINUA and TEGSEDI (hereditary transthyretin-mediated amyloidosis), SPINRAZA (spinal muscular atrophy), QALSODY (ALS) and WAYLIVRA (familial partial lipodystrophy). The firm also maintains an extensive pipeline of RNA-based candidates in Phase 2/3, such as Olezarsen for hypertriglyceridemia, Donidalorsen for hereditary angioedema, and Pelacarsen targeting lipoprotein(a) reduction.

Key quantitative metrics (as of FY 2023) include $1.34 billion in total revenue, a cash and cash-equivalents balance of $1.2 billion providing roughly 18 months of runway at current burn, and a gross margin of ~84 %, reflecting the high-value nature of its RNA platform. The RNA therapeutics market is projected to grow at a CAGR of ~12 % through 2030, driven by expanding indications in rare diseases and increasing payer acceptance of disease-modifying agents.

Strategic collaborations with major pharma partners-Biogen (neurology), GSK, AstraZeneca, Novartis and Roche-supply both upfront licensing cash and co-development expertise, while the company’s 2024-2025 pipeline milestones (e.g., Olezarsen Phase 3 readout, Pelacarsen Phase 3 data) are likely to be material catalysts for stock performance.

For a deeper, data-driven assessment of Ionis’s valuation assumptions and scenario analysis, you may find the analytical tools on ValueRay worth exploring.

IONS Stock Overview

Market Cap in USD	11,913m
Sub-Industry	Biotechnology
IPO / Inception	1991-05-17
Return 12m vs S&P 500	62.3%
Analyst Rating	4.08 of 5

IONS Dividends

Currently no dividends paid

IONS Growth Ratios

CAGR 3y	17.69%
CAGR/Max DD Calmar Ratio	0.34
CAGR/Mean DD Pain Ratio	1.03
Current Volume	11353.4k
Average Volume	2259.3k

Piotroski VR‑10 (Strict, 0-10) 1.0

Net Income (-256.3m TTM) > 0 and > 6% of Revenue (6% = 58.0m TTM)

FCFTA -0.10 (>2.0%) and ΔFCFTA 2.55pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 167.1% (prev 300.0%; Δ -132.9pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.08 (>3.0%) and CFO -247.0m > Net Income -256.3m (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 2.79 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (160.8m) change vs 12m ago 8.19% (target <= -2.0% for YES)

Gross Margin 98.78% (prev 98.70%; Δ 0.08pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 31.63% (prev 26.06%; Δ 5.57pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -2.10 (EBITDA TTM -162.6m / Interest Expense TTM 90.7m) >= 6 (WARN >= 3)

Altman Z'' -0.56

(A) 0.53 = (Total Current Assets 2.52b - Total Current Liabilities 903.5m) / Total Assets 3.03b

(B) -0.79 = Retained Earnings (Balance) -2.40b / Total Assets 3.03b

(D) -1.01 = Book Value of Equity -2.43b / Total Liabilities 2.42b

Total Rating: -0.56 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 22.94

1. Piotroski 1.0pt = -4.0

2. FCF Yield -2.58% = -1.29

3. FCF Margin -31.30% = -7.50

4. Debt/Equity 3.31 = -1.22

5. Debt/Ebitda -10.52 = -2.50

6. ROIC - WACC (= -16.75)% = -12.50

7. RoE -44.32% = -2.50

8. Rev. Trend 28.41% = 2.13

9. EPS Trend 46.53% = 2.33

What is the price of IONS shares?

As of November 15, 2025, the stock is trading at USD 69.84 with a total of 11,353,359 shares traded.
Over the past week, the price has changed by -5.76%, over one month by -1.08%, over three months by +62.02% and over the past year by +84.83%.

Is Ionis Pharmaceuticals a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, Ionis Pharmaceuticals (NASDAQ:IONS) is currently (November 2025) a stock to sell. It has a ValueRay Fundamental Rating of 22.94 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of IONS is around 72.17 USD . This means that IONS is currently overvalued and has a potential downside of 3.34%.

Is IONS a buy, sell or hold?

Ionis Pharmaceuticals has received a consensus analysts rating of 4.08. Therefore, it is recommended to buy IONS.

Strong Buy: 12
Buy: 5
Hold: 8
Sell: 1
Strong Sell: 0

What are the forecasts/targets for the IONS price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	82.4	18%
Analysts Target Price	82.4	18%
ValueRay Target Price	78.8	12.9%

IONS Fundamental Data Overview November 09, 2025

Market Cap USD = 11.91b (11.91b USD * 1.0 USD.USD)
P/E Forward = 90.9091
P/S = 12.3203
P/B = 17.2581
P/EG = 25.7033
Beta = 0.306
Revenue TTM = 967.0m USD
EBIT TTM = -190.6m USD
EBITDA TTM = -162.6m USD
Long Term Debt = 1.25b USD (from longTermDebt, last fiscal year)
Short Term Debt = 644.9m USD (from shortTermDebt, last quarter)
Debt = 2.05b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.71b USD (from netDebt column, last quarter)
Enterprise Value = 11.72b USD (11.91b + Debt 2.05b - CCE 2.24b)
Interest Coverage Ratio = -2.10 (Ebit TTM -190.6m / Interest Expense TTM 90.7m)
FCF Yield = -2.58% (FCF TTM -302.7m / Enterprise Value 11.72b)
FCF Margin = -31.30% (FCF TTM -302.7m / Revenue TTM 967.0m)
Net Margin = -26.51% (Net Income TTM -256.3m / Revenue TTM 967.0m)
Gross Margin = 98.78% ((Revenue TTM 967.0m - Cost of Revenue TTM 11.8m) / Revenue TTM)
Gross Margin QoQ = 98.51% (prev 99.08%)
Tobins Q-Ratio = 3.86 (Enterprise Value 11.72b / Total Assets 3.03b)
Interest Expense / Debt = 1.08% (Interest Expense 22.2m / Debt 2.05b)
Taxrate = -0.17% (negative due to tax credits) (213.0k / -128.4m)
NOPAT = -190.9m (EBIT -190.6m * (1 - -0.17%)) [loss with tax shield] [negative tax rate / tax credits]
Current Ratio = 2.79 (Total Current Assets 2.52b / Total Current Liabilities 903.5m)
Debt / Equity = 3.31 (Debt 2.05b / totalStockholderEquity, last quarter 618.0m)
Debt / EBITDA = -10.52 (negative EBITDA) (Net Debt 1.71b / EBITDA -162.6m)
Debt / FCF = -5.65 (negative FCF - burning cash) (Net Debt 1.71b / FCF TTM -302.7m)
Total Stockholder Equity = 578.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -8.45% (Net Income -256.3m / Total Assets 3.03b)
RoE = -44.32% (Net Income TTM -256.3m / Total Stockholder Equity 578.5m)
RoCE = -10.45% (EBIT -190.6m / Capital Employed (Equity 578.5m + L.T.Debt 1.25b))
RoIC = -10.49% (negative operating profit) (NOPAT -190.9m / Invested Capital 1.82b)
WACC = 6.25% (E(11.91b)/V(13.96b) * Re(7.14%) + D(2.05b)/V(13.96b) * Rd(1.08%) * (1-Tc(-0.00)))
Discount Rate = 7.14% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 5.66%
Fair Price DCF = unknown (Cash Flow -302.7m)
EPS Correlation: 46.53 | EPS CAGR: 135.3% | SUE: 1.77 | # QB: 2
Revenue Correlation: 28.41 | Revenue CAGR: 1.14% | SUE: 0.39 | # QB: 0

Additional Sources for IONS Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle