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Ionis Pharmaceuticals Inc (IONS) stock: price, quality, comparison

Price, quality, revenue and earnings and the peer comparison for Ionis Pharmaceuticals Inc, from audited financials.

Price: $39.42. No valuation: the company's figures do not support a reliable fair value right now, so we deliberately show none.
Price/sales 7.46× (industry 6.04×) · Revenue growth (quarter YoY) −40.7% (industry 0.0%)
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Healthcare US

IP Ionis Pharmaceuticals Inc logo Thin data Nov 6, 2026

Ionis Pharmaceuticals Inc

IONS · US
Mixed Growth (revenue 5y +5.3 %/yr in USD)
Insiders bought $1.1M (6M) · sold $20.1M
Quality 30/100
Loss-making · -64.7% net margin (TTM)
High debt
Negative free cash flow
Trails peers (1/10)
Narrow moat 15/100 · thin data
Negative coverage
Thin data
No fair value
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Company profile

Ionis Pharmaceuticals, Inc., a commercial-stage biotechnology company, provides RNA-targeted medicines in the United States.

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The company offers TRYNGOLZA reduces triglyceride levels in adults with familial chylomicronemia syndrome (FCS) and acute pancreatitis; DAWNZERA for prophylaxis to prevent attacks of hereditary angioedema in adults; WAINUA for the treatment of the polyneuropathy of hereditary transthyretin-medicated amyloidosis (ATTRv-PN) in adults; and SPINRAZA for pediatric and adult patients with spinal muscular atrophy (SMA). It also provides QALSODY for the treatment of Amyotrophic Lateral Sclerosis (ALS); TEGSEDI for the treatment of ATTRv-PN in adults; and WAYLIVRA for treatment for FCS and familial partial lipodystrophy.

It also develops products under Phase 3 clinical trials, such as Olezarsen for patients with hypertriglyceridemia (SHTG) and cardiovascular disease (CVD); and Zilganerse, a potential treatment for people with genetically confirmed Alexander disease, as well as ION582 which is in Phase 3 clinical trial for the potential treatment of AS, a rare genetic neurological disease.

In addition, the company develops Eplontersen to degrade mutant and wild-type TTR mRNA through binding to the TTR mRNA; Pelacarsen to inhibit the production of apolipoprotein(a) in the liver to offer a direct approach for reducing lipoprotein(a); Bepirovirsen to inhibit the production of viral proteins associated with hepatitis B virus; Sefaxersen to reduce the production of complement factor B and lower activation of the alternative complement pathway; and Ulefnersen to reduce the production of the fused in sarcoma, as well as other mid-stage pipeline investigational medicines.

It has a strategic collaboration with Biogen for the treatment of neurological disorders; and collaboration and license agreement with GSK, AstraZeneca, Novartis, and Roche, as well as with Metagenomi. The company was incorporated in 1989 and is headquartered in Carlsbad, California.

Quality Score breakdown

Overall quality 30/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 12
How much profit the company makes from its sales and capital
Quality Growth 82
Are margins and returns getting better?
Cashflow 5
Do the profits arrive as real cash?
Financial strength 11
Debt, balance sheet and risk of trouble
Investment 74
Does it invest with discipline instead of growing at any price?
Low Volatility 67
How calm the share price moves, does not count
Price momentum 4
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 39
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, one officer or director bought shares worth $1.1M, on Jul 31, 2026. Over the same period, 11 people sold shares worth $20.1M.

  • SaleEric SwayzeEVP Research6× since Jan 2, 2026: 65,872 shares, avg. $79.52$5.2MOct 16, 2026
  • SaleShannon L. DeversEVP, Chief Human Resources Ofc7× since Nov 25, 2025: 100,962 shares, avg. $81.12$8.2MOct 16, 2026
  • BuyMichael R HaydenDirector20,000 shares at $52.94$1.1MJul 31, 2026
  • SaleHolly B. KordasiewiczEVP, Chief Development Officer3× since Jan 16, 2026: 65,349 shares, avg. $73.61$4.8MJul 7, 2026
  • SaleAllene M. DiazDirector2× since Mar 3, 2026: 64,989 shares, avg. $80.29$5.2MJul 7, 202610b5-1 plan
  • SaleC Frank BennettEVP, Chief Scientific Officer5× since Jan 16, 2026: 205,576 shares, avg. $81.26$16.7MJul 7, 2026
  • SaleJoseph Klein IIIDirector5× since Nov 25, 2025: 77,282 shares, avg. $77.59$6.0MJul 1, 202610b5-1 plan
  • SaleEugene SchneiderEVP, Chf Clinical Develop Ofcr4× since Jan 16, 2026: 47,293 shares, avg. $79.05$3.7MJun 26, 2026
  • SalePatrick R. O'NeilEVP CLO & General Counsel4× since Jan 16, 2026: 28,587 shares, avg. $77.74$2.2MJun 26, 2026
  • SaleJoseph BaroldiEVP, Chief Business Officer6× since Jan 16, 2026: 32,891 shares, avg. $78.08$2.6MJun 26, 2026

Plus 9 more entries from the last 12 months.

Plus 18 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 16/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+33.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.3%
Start year 2020 (pandemic). Over 10 years: +12.8% a year
Revenue growth 35 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.2%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−23.6% (2020) → −40.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Recent news

News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Negative
Recent news coverage is more negative than average.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 559 stocks

Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 30 · Bottom 25%
Profitability
Return on assets −10.8% · Above median
Net margin (12 months) −64.7% · Bottom 25%
Operating margin (12 months) −38.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −40.7% · Bottom 25%
Balance sheet
Debt / equity 2.76× · Highest 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 13.33× · Priciest 25%
P/S (12 months) 7.46× · Pricier than median
PEG 25.70× · Priciest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Incyte Corporation INCY $119.65 $199.23 +67% vs IONS
Regeneron Pharmaceuticals, Inc REGN $904.35 $1,275 +41% vs IONS
Genmab A/S GMAB kr 3,527 kr 3,999 +13% vs IONS
WuXi Biologics (Cayman) Inc 2269 HK$47.62 HK$53.55 +12% vs IONS
Samsung Biologics Co 207940 1,516,000 KRW 1,667,600 KRW +10% vs IONS
Vertex Pharmaceuticals Incorporated VRTX $547.09 $596.75 +9% vs IONS
argenx SE ARGX $927.21 $908.40 −2% vs IONS
CSL Limited CSL A$202.04 A$183.04 −9% vs IONS
Celltrion, Inc 068270 211,000 KRW 74,945 KRW −64% vs IONS
Royalty Pharma plc RPRX $67.30 $19.01 −72% vs IONS

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Frequently asked questions

What is the quality score of IONS?
Ionis Pharmaceuticals Inc has a Quality Score of 30/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Ionis Pharmaceuticals Inc (IONS)?
Ionis Pharmaceuticals Inc reported trailing-twelve-month revenue of about $874M (latest available figure, as of Nov 6, 2026).
What is the PEG ratio of IONS?
The PEG ratio of Ionis Pharmaceuticals Inc is 25.70 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Ionis Pharmaceuticals Inc (IONS)?
Balance-sheet figures for Ionis Pharmaceuticals Inc (as of Nov 6, 2026): return on equity −105.5%, debt of 2.76 per unit of equity. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
Which stocks are comparable to Ionis Pharmaceuticals Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
What is the share price of Ionis Pharmaceuticals Inc (IONS)?
The closing price on Nov 6, 2026 was $39.42. We carry closing prices from our data provider, not a live tick.

Key figures of Ionis Pharmaceuticals Inc

How large is the market capitalisation of Ionis Pharmaceuticals Inc (IONS)?
The market capitalisation of Ionis Pharmaceuticals Inc is $6.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ionis Pharmaceuticals Inc (IONS)?
The price-to-sales ratio of Ionis Pharmaceuticals Inc is 7.63 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ionis Pharmaceuticals Inc (IONS)?
Earnings per share at Ionis Pharmaceuticals Inc are $−3.48. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ionis Pharmaceuticals Inc (IONS)?
The net margin of Ionis Pharmaceuticals Inc is −64.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ionis Pharmaceuticals Inc (IONS)?
The return on equity (ROE) of Ionis Pharmaceuticals Inc is −106% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ionis Pharmaceuticals Inc (IONS)?
On an EBIT basis the return on assets of Ionis Pharmaceuticals Inc is −11.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ionis Pharmaceuticals Inc (IONS)?
The operating margin of Ionis Pharmaceuticals Inc is −38.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ionis Pharmaceuticals Inc (IONS)?
Revenue at Ionis Pharmaceuticals Inc is growing −40.7% versus a year earlier (3y avg +17.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Ionis Pharmaceuticals Inc (IONS)?
Earnings per share at Ionis Pharmaceuticals Inc are growing −43.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ionis Pharmaceuticals Inc (IONS) generate?
The free cash flow of Ionis Pharmaceuticals Inc is −$320M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ionis Pharmaceuticals Inc (IONS) carry?
The net debt of Ionis Pharmaceuticals Inc is $2.2B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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