(IONS) Ionis Pharmaceuticals - Ratings and Ratios
Triglyceride, Amyloidosis, SMA, ALS, Hypertriglyceridemia
EPS (Earnings per Share)
Revenue
Dividends
Currently no dividends paid| Risk via 5d forecast | |
|---|---|
| Volatility | 37.5% |
| Value at Risk 5%th | 55.4% |
| Relative Tail Risk | -10.22% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.87 |
| Alpha | 124.85 |
| CAGR/Max DD | 0.58 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.501 |
| Beta | 0.723 |
| Beta Downside | 0.720 |
| Drawdowns 3y | |
|---|---|
| Max DD | 52.36% |
| Mean DD | 16.39% |
| Median DD | 12.80% |
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.
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 8.70pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 167.1% (prev 402.9%; Δ -235.8pp) (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 98.41%; Δ 0.37pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 31.63% (prev 19.41%; Δ 12.22pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -1.90 (EBITDA TTM -144.7m / Interest Expense TTM 90.7m) >= 6 (WARN >= 3) |
Altman Z'' -0.52
| (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 |
| (C) -0.06 = EBIT TTM -172.6m / Avg Total Assets 3.06b |
| (D) -1.01 = Book Value of Equity -2.43b / Total Liabilities 2.42b |
| Total Rating: -0.52 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 21.95
| 1. Piotroski 1.0pt |
| 2. FCF Yield -2.51% |
| 3. FCF Margin -31.30% |
| 4. Debt/Equity 2.41 |
| 5. Debt/Ebitda -7.96 |
| 6. ROIC - WACC (= -17.40)% |
| 7. RoE -44.32% |
| 8. Rev. Trend 4.97% |
| 9. EPS Trend 33.81% |
What is the price of IONS shares?
Over the past week, the price has changed by +5.13%, over one month by +2.04%, over three months by +20.64% and over the past year by +137.83%.
Is IONS a buy, sell or hold?
- 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 | 88 | 5.8% |
| Analysts Target Price | 88 | 5.8% |
| ValueRay Target Price | 95 | 14.2% |
IONS Fundamental Data Overview January 03, 2026
P/E Forward = 90.9091
P/S = 13.2517
P/B = 20.7354
P/EG = 25.7033
Beta = 0.297
Revenue TTM = 967.0m USD
EBIT TTM = -172.6m USD
EBITDA TTM = -144.7m USD
Long Term Debt = 595.9m USD (from longTermDebt, last quarter)
Short Term Debt = 630.9m USD (from shortTermDebt, last quarter)
Debt = 1.49b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.15b USD (from netDebt column, last quarter)
Enterprise Value = 12.06b USD (12.81b + Debt 1.49b - CCE 2.24b)
Interest Coverage Ratio = -1.90 (Ebit TTM -172.6m / Interest Expense TTM 90.7m)
FCF Yield = -2.51% (FCF TTM -302.7m / Enterprise Value 12.06b)
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 = 3.98 (Enterprise Value 12.06b / Total Assets 3.03b)
Interest Expense / Debt = 1.49% (Interest Expense 22.2m / Debt 1.49b)
Taxrate = -0.17% (negative due to tax credits) (213.0k / -128.4m)
NOPAT = -172.9m (EBIT -172.6m * (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 = 2.41 (Debt 1.49b / totalStockholderEquity, last quarter 618.0m)
Debt / EBITDA = -7.96 (negative EBITDA) (Net Debt 1.15b / EBITDA -144.7m)
Debt / FCF = -3.80 (negative FCF - burning cash) (Net Debt 1.15b / FCF TTM -302.7m)
Total Stockholder Equity = 578.4m (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 578.4m)
RoCE = -14.70% (EBIT -172.6m / Capital Employed (Equity 578.4m + L.T.Debt 595.9m))
RoIC = -9.47% (negative operating profit) (NOPAT -172.9m / Invested Capital 1.83b)
WACC = 7.93% (E(12.81b)/V(14.30b) * Re(8.68%) + D(1.49b)/V(14.30b) * Rd(1.49%) * (1-Tc(-0.00)))
Discount Rate = 8.68% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 5.10%
Fair Price DCF = unknown (Cash Flow -302.7m)
EPS Correlation: 33.81 | EPS CAGR: 10.89% | SUE: 4.0 | # QB: 3
Revenue Correlation: 4.97 | Revenue CAGR: -24.06% | SUE: 0.39 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.49 | Chg30d=+0.062 | Revisions Net=+2 | Analysts=2
EPS next Year (2026-12-31): EPS=-2.31 | Chg30d=-0.250 | Revisions Net=-1 | Growth EPS=-39.4% | Growth Revenue=+1.0%
Additional Sources for IONS Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle