IONS Stock Analysis: Ionis Pharmaceuticals | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 13.518m USD | 12M Return: 106.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 155M
Qual. Beats: 1
Rev. Trend: 88.9%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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 is a commercial-stage biotechnology company based in Carlsbad, California, founded in 1989, that develops RNA-targeted medicines, primarily antisense oligonucleotides designed to modulate the production of disease-related proteins. Its marketed portfolio spans rare and neurological diseases and includes TRYNGOLZA (familial chylomicronemia syndrome), DAWNZERA (hereditary angioedema prophylaxis), WAINUA (ATTRv-PN), SPINRAZA (spinal muscular atrophy), QALSODY (ALS), TEGSEDI, and WAYLIVRA.
The companys late-stage pipeline features Phase 3 candidates such as Olezarsen (for severe hypertriglyceridemia and cardiovascular disease), Zilganerse (Alexander disease), and ION582 (Angelman syndrome), along with earlier-stage programs including Eplontersen, Pelacarsen, Bepirovirsen, Sefaxersen, and Ulefnersen targeting metabolic, cardiovascular, infectious, and neurological conditions.
Ionis operates a hybrid business model that combines direct product commercialization with a heavy reliance on partnerships, maintaining collaboration and license agreements with Biogen, GSK, AstraZeneca, Novartis, Roche, and Metagenomi to share development costs, geographic rights, and royalties. As a large-cap U.S. biotech in the Health Care sector, its revenue profile is shaped by both product sales and milestone or royalty streams tied to partnered assets, a structure common among platform-based antisense drug developers.
- TRYNGOLZA and DAWNZERA commercial launches accelerate revenue growth
- WAINUA royalties from AstraZeneca partnership expand top-line
- Phase 3 olezarsen cardiovascular readout is key near-term catalyst
| Net Income: -326.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -8.67 > 0.02 and ΔFCF/TA -1.02k > 1.0 |
| NWC/Revenue: 209.9% < 20% (prev 302.4%; Δ -92.46% < -1%) |
| CFO/TA -0.26 > 3% & CFO -910.6m > Net Income -326.6m |
| Net Debt (381.1m) to EBITDA (4.59b): 0.08 < 3 |
| Current Ratio: 4.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (164.9m) vs 12m ago 3.87% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 33.78% > 50% (prev 25.50%; Δ 8.28% > 0%) |
| Interest Coverage Ratio: -2.76 > 6 (EBIT TTM -248.4m / Interest Expense TTM 90.1m) |
| A: 0.64 (Total Current Assets 2.94b - Total Current Liabilities 716.6m) / Total Assets 3.45b |
| B: -0.79 (Retained Earnings -2.72b / Total Assets 3.45b) |
| C: -0.08 (EBIT TTM -248.4m / Avg Total Assets 3.13b) |
| D: 0.17 (Book Value of Equity 491.4m / Total Liabilities 2.96b) |
| Altman-Z'' = 1.29 = BB |
| DSRI: 1.26 (Receivables 73.7m/39.7m, Revenue 1.06b/717.3m) |
| GMI: 1.00 (GM 98.53% / 98.35%) |
| AQI: 0.84 (AQ_t 0.04 / AQ_t-1 0.05) |
| SGI: 1.47 (Revenue 1.06b / 717.3m) |
| TATA: 0.17 (NI -326.6m - CFO -910.6m) / TA 3.45b) |
| Beneish M = -2.55 (Cap -4..+1) = A |
As of July 08, 2026, the stock is trading at USD 86.32 with a total of 2,356,482 shares traded. Over the past week, the price has changed by +6.98%, over one month by +17.38%, over three months by +16.82% and over the past year by +106.61%.
Current recommended Stop Loss: 83.30 (which is 3.5% or 1.3 ATR below the current price).
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
| Analysts Target Price | 105.9 | 22.7% |
P/E Forward = 96.1538
P/S = 12.7751
P/B = 27.5093
P/EG = 27.3301
Revenue TTM = 1.06b USD
EBIT TTM = -248.4m USD
EBITDA TTM = 4.59b USD
Long Term Debt = 1.35b USD (from longTermDebt, last quarter)
Short Term Debt = 432.5m USD (from shortTermDebt, last quarter)
Debt = 2.30b USD (from shortLongTermDebtTotal, last quarter) + Leases 259.2m
Net Debt = 381.1m USD (calculated: Debt 2.30b - CCE 1.92b)
Enterprise Value = 13.9b USD (13.5b + Debt 2.30b - CCE 1.92b)
Interest Coverage Ratio = -2.76 (Ebit TTM -248.4m / Interest Expense TTM 90.1m)
EV/FCF = -0.46x (Enterprise Value 13.9b / FCF TTM -29.9b)
FCF Yield = -215.1% (FCF TTM -29.9b / Enterprise Value 13.9b)
FCF Margin = -2.83k% (FCF TTM -29.9b / Revenue TTM 1.06b)
Net Margin = -30.87% (Net Income TTM -326.6m / Revenue TTM 1.06b)
Gross Margin = unknown ((Revenue TTM 1.06b - Cost of Revenue TTM 17.5m) / Revenue TTM)
Tobins Q-Ratio = 4.03 (Enterprise Value 13.9b / Total Assets 3.45b)
Interest Expense / Debt = 3.92% (Interest Expense 90.1m / Debt 2.30b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -196.2m (EBIT -248.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.95 (Total Current Assets 2.94b / Total Current Liabilities 742.6m)
Debt / Equity = 4.68 (Debt 2.30b / totalStockholderEquity, last quarter 491.4m)
Debt / EBITDA = 0.08 (Net Debt 381.1m / EBITDA 4.59b)
Debt / FCF = -0.01 (negative FCF - burning cash) (Net Debt 381.1m / FCF TTM -29.9b)
Total Stockholder Equity = 557.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -10.43% (Net Income -326.6m / Total Assets 3.45b)
RoE = -58.57% (Net Income TTM -326.6m / Total Stockholder Equity 557.5m)
RoCE = -13.03% (EBIT -248.4m / Capital Employed (Equity 557.5m + L.T.Debt 1.35b))
RoIC = -6.30% (negative operating profit) (NOPAT -196.2m / Invested Capital 3.11b)
WACC = 6.97% (E(13.5b)/V(15.8b) * Re(7.63%) + D(2.30b)/V(15.8b) * Rd(3.92%) * (1-Tc(0.21)))
Discount Rate = 7.63% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 84.11 | Cagr: 6.57%
[DCF] Fair Price = unknown (Cash Flow -29.9b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 2.23 | # QB: 1
Revenue Correlation: 88.92 | Revenue CAGR: 25.52% | SUE: 0.91 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.91 | Chg30d=-4.46% | Revisions=+22% | Analysts=6
EPS next Quarter (2026-09-30): EPS=-0.84 | Chg30d=-4.11% | Revisions=+62% | Analysts=6
EPS current Year (2026-12-31): EPS=-2.69 | Chg30d=-5.03% | Revisions=+25% | GrowthEPS=-74.1% | GrowthRev=-5.4%
EPS next Year (2027-12-31): EPS=-0.61 | Chg30d=+2.14% | Revisions=+25% | GrowthEPS=+77.3% | GrowthRev=+68.5%
[Analyst] Revisions Ratio: +56% (up=11, down=2)