(IONS) Ionis Pharmaceuticals - Overview
Stock: RNA-Targeted, Neurological, Rare Diseases, Cardiovascular, Metabolic Therapies
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 37.7% |
| Relative Tail Risk | -9.22% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 2.07 |
| Alpha | 148.44 |
| Character TTM | |
|---|---|
| Beta | 0.714 |
| Beta Downside | 0.667 |
| Drawdowns 3y | |
|---|---|
| Max DD | 52.36% |
| CAGR/Max DD | 0.59 |
Description: IONS Ionis Pharmaceuticals January 09, 2026
Ionis Pharmaceuticals (NASDAQ:IONS) is a commercial-stage biotech that commercializes RNA-targeted therapeutics in the United States. Its approved portfolio includes TRYNGOLZA for familial chylomicronemia syndrome (FCS)-related hypertriglyceridemia, WAINUA and TEGSEDI for hereditary transthyretin-mediated polyneuropathy (ATTRv-PN), SPINRAZA for spinal muscular atrophy, QALSODY for amyotrophic lateral sclerosis, and WAYLIVRA for FCS and familial partial lipodystrophy.
Beyond its marketed drugs, Ionis is advancing a mid- to late-stage pipeline: Olezarsen (Phase 3) targets hypertriglyceridemia and cardiovascular risk; Donidalorsen (Phase 3) aims at hereditary angioedema; Zilganerse (Phase 3) is being studied for Alexander disease; and ION582 has completed Phase 2 for a rare neurological disorder (AS). Additional investigational assets such as Eplontersen, Pelacarsen, Bepirovirsen, Sefaxersen, and Ulefnersen are in Phase 1/2 development, broadening the company’s RNA-based platform across metabolic, neurological, and infectious indications.
Strategically, Ionis leverages collaborations with major pharma partners-Biogen (neurology), GSK, AstraZeneca, Novartis, Roche, and Metagenomi-to co-develop and commercialize its antisense technologies, which helps offset R&D costs and expands market reach.
Key financial and market metrics (as of the latest quarter): ≈ $1.1 billion in total revenue, driven primarily by SPINRAZA and the newly launched TRYNGOLZA; cash and cash equivalents of about $1.3 billion, providing runway for pipeline spending; and an estimated 12 % YoY growth in the RNA-therapeutics sector, reflecting rising investor confidence in antisense platforms. The company’s valuation is sensitive to the success of Olezarsen, given the $150 billion U.S. market for cardiovascular risk-reduction therapies.
For a deeper dive into IONS’ valuation metrics, you may find ValueRay’s analyst notes useful.
Piotroski VR‑10 (Strict, 0-10) 0.5
| Net Income: -256.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.10 > 0.02 and ΔFCF/TA 8.70 > 1.0 |
| NWC/Revenue: 167.1% < 20% (prev 402.9%; Δ -235.8% < -1%) |
| CFO/TA -0.08 > 3% & CFO -247.0m > Net Income -256.3m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.79 > 1.5 & < 3 |
| Outstanding Shares: last quarter (160.8m) vs 12m ago 8.19% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 31.63% > 50% (prev 19.41%; Δ 12.22% > 0%) |
| Interest Coverage Ratio: -1.92 > 6 (EBITDA TTM -153.6m / Interest Expense TTM 90.7m) |
Altman Z'' -0.53
| A: 0.53 (Total Current Assets 2.52b - Total Current Liabilities 903.5m) / Total Assets 3.03b |
| B: -0.79 (Retained Earnings -2.40b / Total Assets 3.03b) |
| C: -0.06 (EBIT TTM -174.2m / Avg Total Assets 3.06b) |
| D: -1.01 (Book Value of Equity -2.43b / Total Liabilities 2.42b) |
| Altman-Z'' Score: -0.53 = B |
Beneish M -2.47
| DSRI: 0.86 (Receivables 25.0m/17.9m, Revenue 967.0m/598.1m) |
| GMI: 1.00 (GM 98.78% / 98.41%) |
| AQI: 1.40 (AQ_t 0.05 / AQ_t-1 0.04) |
| SGI: 1.62 (Revenue 967.0m / 598.1m) |
| TATA: -0.00 (NI -256.3m - CFO -247.0m) / TA 3.03b) |
| Beneish M-Score: -2.47 (Cap -4..+1) = BBB |
What is the price of IONS shares?
Over the past week, the price has changed by +4.63%, over one month by +6.15%, over three months by +16.73% and over the past year by +165.09%.
Is IONS a buy, sell or hold?
- StrongBuy: 12
- Buy: 5
- Hold: 8
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the IONS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 90.7 | 4.8% |
| Analysts Target Price | 90.7 | 4.8% |
| ValueRay Target Price | 101 | 16.8% |
IONS Fundamental Data Overview February 07, 2026
P/S = 13.9837
P/B = 22.2766
P/EG = 25.7033
Revenue TTM = 967.0m USD
EBIT TTM = -174.2m USD
EBITDA TTM = -153.6m 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 = 12.77b USD (13.52b + Debt 1.49b - CCE 2.24b)
Interest Coverage Ratio = -1.92 (Ebit TTM -174.2m / Interest Expense TTM 90.7m)
EV/FCF = -42.20x (Enterprise Value 12.77b / FCF TTM -302.7m)
FCF Yield = -2.37% (FCF TTM -302.7m / Enterprise Value 12.77b)
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 = unknown ((Revenue TTM 967.0m - Cost of Revenue TTM 11.8m) / Revenue TTM)
Tobins Q-Ratio = 4.21 (Enterprise Value 12.77b / Total Assets 3.03b)
Interest Expense / Debt = 1.49% (Interest Expense 22.2m / Debt 1.49b)
Taxrate = 21.0% (US default 21%)
NOPAT = -137.6m (EBIT -174.2m * (1 - 21.00%)) [loss with tax shield]
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 = -7.49 (negative EBITDA) (Net Debt 1.15b / EBITDA -153.6m)
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 = -8.39% (Net Income -256.3m / Total Assets 3.03b)
RoE = -44.32% (Net Income TTM -256.3m / Total Stockholder Equity 578.4m)
RoCE = -14.84% (EBIT -174.2m / Capital Employed (Equity 578.4m + L.T.Debt 595.9m))
RoIC = -7.54% (negative operating profit) (NOPAT -137.6m / Invested Capital 1.83b)
WACC = 7.82% (E(13.52b)/V(15.01b) * Re(8.55%) + D(1.49b)/V(15.01b) * Rd(1.49%) * (1-Tc(0.21)))
Discount Rate = 8.55% (= 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=-0.60 | Chg30d=-0.102 | Revisions Net=+2 | Analysts=3
EPS next Year (2026-12-31): EPS=-2.29 | Chg30d=+0.017 | Revisions Net=-1 | Growth EPS=-35.2% | Growth Revenue=+1.7%