IONS Stock Analysis: Ionis Pharmaceuticals | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 5.152m USD | 12M Return: -59.5% | US4622221004 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 122M
Qual. Beats: 3
Rev. Trend: 90.2%
Qual. Beats: 3
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Ionis Pharmaceuticals (NASDAQ: IONS) is a commercial-stage biotechnology company headquartered in Carlsbad, California, focused on developing RNA-targeted therapies-a platform approach that aims to modulate gene expression at the RNA level rather than targeting proteins directly. The company markets several approved medicines in the United States, including TRYNGOLZA (for familial chylomicronemia syndrome), DAWNZERA (for hereditary angioedema), WAINUA (for ATTRv-PN), SPINRAZA (for spinal muscular atrophy), QALSODY (for ALS), TEGSEDI (for ATTRv-PN), and WAYLIVRA (for FCS and familial partial lipodystrophy). Ionis also has a deep mid- to late-stage pipeline, with multiple candidates in Phase 3 trials (e.g., Olezarsen for hypertriglyceridemia and cardiovascular disease) and earlier-stage programs targeting indications such as hepatitis B, complement-mediated diseases, and rare neurological disorders. The company has established strategic collaborations and licensing agreements with major pharmaceutical partners, including Biogen, GSK, AstraZeneca, Novartis, Roche, and Metagenomi, which is typical in the biotechnology sector where companies often rely on larger partners for late-stage development, commercialization, and geographic reach.
- TRYNGOLZA and DAWNZERA drive early commercial launch revenue growth
- WAINUA and SPINRAZA royalties from Biogen anchor top line
- Phase 3 readouts for olezarsen and ION582 catalyst stock moves
- Partner payments from AstraZeneca Novartis Roche fund pipeline advancement
| Net Income: -546.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -10.33 > 0.02 and ΔFCF/TA -1.03k > 1.0 |
| NWC/Revenue: 159.5% < 20% (prev 167.1%; Δ -7.56% < -1%) |
| CFO/TA -0.19 > 3% & CFO -544.4m > Net Income -546.1m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 5.34 > 1.5 & < 3 |
| Outstanding Shares: last quarter (166.2m) vs 12m ago 3.39% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 32.28% > 50% (prev 31.88%; Δ 0.40% > 0%) |
| Interest Coverage Ratio: -6.51 > 6 (EBIT TTM -495.4m / Interest Expense TTM 76.1m) |
| A: 0.53 (Total Current Assets 1.88b - Total Current Liabilities 353.0m) / Total Assets 2.91b |
| B: -1.01 (Retained Earnings -2.95b / Total Assets 2.91b) |
| C: -0.17 (EBIT TTM -495.4m / Avg Total Assets 2.97b) |
| D: 0.16 (Book Value of Equity 394.0m / Total Liabilities 2.52b) |
| Altman-Z'' = -0.81 = CCC |
As of November 11, 2026, the stock is trading at USD 28.19 with a total of 10,675,185 shares traded. Over the past week, the price has changed by -30.26%, over one month by -35.45%, over three months by -50.49% and over the past year by -59.46%.
Current recommended Stop Loss: 25.00 (which is 11.3% or 1.3 ATR below the current price).
Ionis Pharmaceuticals has received a consensus analysts rating of 4.32. Therefore, it is recommended to buy IONS.
- StrongBuy: 12
- Buy: 9
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 79.4 | 181.8% |
P/E Forward = 90.9091
P/S = 5.3659
P/B = 14.8975
P/EG = 25.7033
Revenue TTM = 959.8m USD
EBIT TTM = -495.4m USD
EBITDA TTM = -473.5m USD
Long Term Debt = 1.34b USD (from longTermDebt, last quarter)
Short Term Debt = 283.0m USD (from shortTermDebt, last quarter)
Debt = 1.89b USD (corrected: LT Debt 1.34b + ST Debt 283.0m) + Leases 262.5m
Net Debt = 459.1m USD (calculated: Debt 1.89b - CCE 1.43b)
Enterprise Value = 5.61b USD (5.15b + Debt 1.89b - CCE 1.43b)
Interest Coverage Ratio = -6.51 (Ebit TTM -495.4m / Interest Expense TTM 76.1m)
EV/FCF = -0.19x (Enterprise Value 5.61b / FCF TTM -30.1b)
FCF Yield = -536.5% (FCF TTM -30.1b / Enterprise Value 5.61b)
FCF Margin = -3.14k% (FCF TTM -30.1b / Revenue TTM 959.8m)
Net Margin = -56.90% (Net Income TTM -546.1m / Revenue TTM 959.8m)
Gross Margin = unknown ((Revenue TTM 959.8m - Cost of Revenue TTM 17.0m) / Revenue TTM)
Tobins Q-Ratio = 1.93 (Enterprise Value 5.61b / Total Assets 2.91b)
Interest Expense / Debt = 4.02% (Interest Expense 76.1m / Debt 1.89b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -391.4m (EBIT -495.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.96 (Total Current Assets 1.88b / Total Current Liabilities 380.1m)
Debt / Equity = 4.80 (Debt 1.89b / totalStockholderEquity, last quarter 394.0m)
Debt / EBITDA = -0.97 (negative EBITDA) (Net Debt 459.1m / EBITDA -473.5m)
Debt / FCF = -0.02 (negative FCF - burning cash) (Net Debt 459.1m / FCF TTM -30.1b)
Total Stockholder Equity = 453.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -18.37% (Net Income -546.1m / Total Assets 2.91b)
RoE = -120.4% (Net Income TTM -546.1m / Total Stockholder Equity 453.6m)
RoCE = -27.55% (EBIT -495.4m / Capital Employed (Equity 453.6m + L.T.Debt 1.34b))
RoIC = -14.00% (negative operating profit) (NOPAT -391.4m / Invested Capital 2.80b)
WACC = 6.72% (E(5.15b)/V(7.04b) * Re(8.02%) + D(1.89b)/V(7.04b) * Rd(4.02%) * (1-Tc(0.21)))
Discount Rate = 8.02% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 58.83 | Cagr: 5.94%
[DCF] Fair Price = unknown (Cash Flow -30.1b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 2.98 | # QB: 3
Revenue Correlation: 90.19 | Revenue CAGR: 26.28% | SUE: 1.19 | # QB: 3
EPS current Quarter (2027-03-31): EPS=-0.81 | Chg30d=+2.81% | Revisions=+25% | Analysts=3
EPS current Year (2026-12-31): EPS=-2.66 | Chg30d=+1.72% | Revisions=+25% | GrowthEPS=-72.0% | GrowthRev=-2.2%
EPS next Year (2027-12-31): EPS=-1.11 | Chg30d=+0.51% | Revisions=-25% | GrowthEPS=+58.3% | GrowthRev=+41.9%
[Analyst] Revisions Ratio: +17% (up=2, down=1)