(IONS) Ionis Pharmaceuticals - Overview

Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 12.355m USD | Total Return: 169.6% in 12m

RNA Medicines, Genetic Diseases, Neurological Disorders
Total Rating 48
Safety 60
Buy Signal 0.04
Biotechnology
Industry Rotation: +3.6
Market Cap: 12.4B
Avg Turnover: 152M USD
ATR: 3.44%
Peers RS (IBD): 59.8
Risk 5d forecast
Volatility37.4%
Rel. Tail Risk-7.07%
Reward TTM
Sharpe Ratio2.08
Alpha163.77
Character TTM
Beta0.453
Beta Downside1.159
Drawdowns 3y
Max DD52.36%
CAGR/Max DD0.50
EPS (Earnings per Share) EPS (Earnings per Share) of IONS over the last years for every Quarter: "2021-03": -0.64, "2021-06": -0.57, "2021-09": -0.58, "2021-12": 1.41, "2022-03": -0.46, "2022-06": -0.74, "2022-09": -0.33, "2022-12": -1.36, "2023-03": -0.87, "2023-06": -0.6, "2023-09": -1.03, "2023-12": -0.06, "2024-03": -0.98, "2024-06": -0.45, "2024-09": -0.95, "2024-12": -0.4304, "2025-03": -0.9245, "2025-06": 0.7, "2025-09": -0.8, "2025-12": -1.1481, "2026-03": 0,
EPS CAGR: 21.28%
EPS Trend: 27.2%
Last SUE: 2.74
Qual. Beats: 1
Revenue Revenue of IONS over the last years for every Quarter: 2021-03: 111.607, 2021-06: 125.75, 2021-09: 133.093, 2021-12: 440.006, 2022-03: 141.919, 2022-06: 133.791, 2022-09: 159.767, 2022-12: 151.889, 2023-03: 130.524, 2023-06: 188.411, 2023-09: 144.207, 2023-12: 119.497, 2024-03: 119.497, 2024-06: 225.25, 2024-09: 133.814, 2024-12: 226.576, 2025-03: 131.612, 2025-06: 452.049, 2025-09: 156.719, 2025-12: 203, 2026-03: null,
Rev. CAGR: 10.02%
Rev. Trend: 43.4%
Last SUE: 0.70
Qual. Beats: 0

Warnings

Interest Coverage Ratio -3.5 is critical

Altman Z'' 0.14 < 1.0 - financial distress zone

Tailwinds

No distinct edge detected

Description: IONS Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc. is a commercial-stage biotechnology company specializing in RNA-targeted medicines.

The company markets several drugs, including TRYNGOLZA for familial chylomicronemia syndrome, WAINUA and TEGSEDI for hereditary transthyretin-mediated amyloidosis, and SPINRAZA for spinal muscular atrophy. These products address rare diseases, a common focus for biotechnology firms due to potential orphan drug designations and premium pricing.

Ionis has a pipeline with drugs in Phase 3 clinical trials for conditions such as hypertriglyceridemia, hereditary angioedema, and Alexander disease. The biotechnology sector typically involves lengthy and costly drug development processes.

The company also develops treatments for neurological disorders, hepatitis B, and other conditions, leveraging collaborations with major pharmaceutical companies like Biogen, GSK, AstraZeneca, Novartis, and Roche. Collaborative agreements are a key business model for many biotechnology companies, sharing development risks and leveraging larger partners commercial infrastructure.

To further understand Ioniss market position and financial health, consider exploring its detailed financials on ValueRay.

Headlines to Watch Out For
  • Pipeline success for RNA-targeted medicines drives future revenue
  • Regulatory approvals for new drugs expand market access
  • Collaboration agreements with large pharma provide funding and reach
  • Competition from other biotech companies impacts market share
  • Clinical trial failures increase development costs and delay revenue
Piotroski VR‑10 (Strict) 1.5
Net Income: -381.0m TTM > 0 and > 6% of Revenue
FCF/TA: -0.09 > 0.02 and ΔFCF/TA 9.61 > 1.0
NWC/Revenue: 234.1% < 20% (prev 327.7%; Δ -93.64% < -1%)
CFO/TA -0.08 > 3% & CFO -268.6m > Net Income -381.0m
Net Debt (-62.7m) to EBITDA (4.53b): -0.01 < 3
Current Ratio: 3.83 > 1.5 & < 3
Outstanding Shares: last quarter (162.0m) vs 12m ago 2.53% < -2%
Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin)
Asset Turnover: 28.90% > 50% (prev 23.48%; Δ 5.43% > 0%)
Interest Coverage Ratio: -3.48 > 6 (EBITDA TTM 4.53b / Interest Expense TTM 85.9m)
Altman Z'' 0.14
A: 0.63 (Total Current Assets 2.99b - Total Current Liabilities 781.6m) / Total Assets 3.52b
B: -0.75 (Retained Earnings -2.63b / Total Assets 3.52b)
C: -0.09 (EBIT TTM -298.5m / Avg Total Assets 3.26b)
D: -0.88 (Book Value of Equity -2.66b / Total Liabilities 3.03b)
Altman-Z'' Score: 0.14 = B
Beneish M -3.11
DSRI: 0.54 (Receivables 66.0m/92.2m, Revenue 943.4m/705.1m)
GMI: 1.00 (GM 98.31% / 98.41%)
AQI: 1.15 (AQ_t 0.05 / AQ_t-1 0.04)
SGI: 1.34 (Revenue 943.4m / 705.1m)
TATA: -0.03 (NI -381.0m - CFO -268.6m) / TA 3.52b)
Beneish M-Score: -3.11 (Cap -4..+1) = AA
What is the price of IONS shares? As of April 07, 2026, the stock is trading at USD 74.79 with a total of 1,791,632 shares traded.
Over the past week, the price has changed by +2.50%, over one month by +0.39%, over three months by -8.79% and over the past year by +169.60%.
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.
  • StrongBuy: 12
  • Buy: 5
  • Hold: 8
  • Sell: 1
  • StrongSell: 0
What are the forecasts/targets for the IONS price?
Analysts Target Price 96.8 29.4%
Ionis Pharmaceuticals (IONS) - Fundamental Data Overview as of 05 April 2026
P/E Forward = 96.1538
P/S = 13.0916
P/B = 25.2607
P/EG = 27.3301
Revenue TTM = 943.4m USD
EBIT TTM = -298.5m USD
EBITDA TTM = 4.53b USD
Long Term Debt = 1.35b USD (from longTermDebt, last quarter)
Short Term Debt = 453.1m USD (from shortTermDebt, last quarter)
Debt = 2.61b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -62.7m USD (recalculated: Debt 2.61b - CCE 2.68b)
Enterprise Value = 12.29b USD (12.35b + Debt 2.61b - CCE 2.68b)
Interest Coverage Ratio = -3.48 (Ebit TTM -298.5m / Interest Expense TTM 85.9m)
EV/FCF = -38.41x (Enterprise Value 12.29b / FCF TTM -320.0m)
FCF Yield = -2.60% (FCF TTM -320.0m / Enterprise Value 12.29b)
FCF Margin = -33.92% (FCF TTM -320.0m / Revenue TTM 943.4m)
Net Margin = -40.39% (Net Income TTM -381.0m / Revenue TTM 943.4m)
 Gross Margin = unknown ((Revenue TTM 943.4m - Cost of Revenue TTM 16.0m) / Revenue TTM)
 Tobins Q-Ratio = 3.49 (Enterprise Value 12.29b / Total Assets 3.52b)
Interest Expense / Debt = 0.69% (Interest Expense 18.0m / Debt 2.61b)
Taxrate = 21.0% (US default 21%)
NOPAT = -235.8m (EBIT -298.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.83 (Total Current Assets 2.99b / Total Current Liabilities 781.6m)
Debt / Equity = 5.35 (Debt 2.61b / totalStockholderEquity, last quarter 489.1m)
Debt / EBITDA = -0.01 (Net Debt -62.7m / EBITDA 4.53b)
 Debt / FCF = 0.20 (negative FCF - burning cash) (Net Debt -62.7m / FCF TTM -320.0m)
 Total Stockholder Equity = 553.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -11.67% (Net Income -381.0m / Total Assets 3.52b)
RoE = -68.82% (Net Income TTM -381.0m / Total Stockholder Equity 553.6m)
RoCE = -15.70% (EBIT -298.5m / Capital Employed (Equity 553.6m + L.T.Debt 1.35b))
 RoIC = -12.17% (negative operating profit) (NOPAT -235.8m / Invested Capital 1.94b)
 WACC = 6.35% (E(12.35b)/V(14.97b) * Re(7.58%) + D(2.61b)/V(14.97b) * Rd(0.69%) * (1-Tc(0.21)))
Discount Rate = 7.58% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 100.0 | Cagr: 5.50%
 [DCF] Fair Price = unknown (Cash Flow -320.0m)
 EPS Correlation: 27.17 | EPS CAGR: 21.28% | SUE: 2.74 | # QB: 1
Revenue Correlation: 43.38 | Revenue CAGR: 10.02% | SUE: 0.70 | # QB: 0
EPS next Quarter (2026-06-30): EPS=-0.95 | Chg7d=-0.020 | Chg30d=-0.294 | Revisions Net=-1 | Analysts=6
EPS current Year (2026-12-31): EPS=-3.32 | Chg7d=-0.074 | Chg30d=-0.937 | Revisions Net=-3 | Growth EPS=-114.9% | Growth Revenue=-12.7%
EPS next Year (2027-12-31): EPS=-0.62 | Chg7d=+0.241 | Chg30d=+0.318 | Revisions Net=+0 | Growth EPS=+81.2% | Growth Revenue=+71.2%
[Analyst] Revisions Ratio: -0.33 (1 Up / 2 Down within 30d for Next Quarter)
External Resources
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