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Ionis Pharmaceuticals, Inc.
IONS
NASDAQ·Healthcare·Biotechnology·Mkt cap $13.1B
$81.80
▲ +3.30%
View full research view
Our plain-language verdict, the thesis, risk factors, and what is changing about the business.
View research view52-Week Range
$40.03 - $86.74
P/E
Fwd P/E
Beta
Div Yield
Avg Vol
Shares Out
Mkt Cap
Price action
Price chart
Up 81.7% over the trailing year
Total returns
Price performance
Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.
Why we rate it this way
The thesis at a glance
Bull and bear case · plain-English context across the five lenses we evaluate.
Bull Case
4 reasons
- Proprietary antisense oligonucleotide (ASO) platform technology
- Multiple FDA-approved marketed products with high barriers to entry
- Strategic partnerships with major pharmaceutical companies (Biogen, AstraZeneca, Roche, GSK, Novartis)
- Deep pipeline with multiple Phase 3 candidates addressing unmet medical needs
Bear Case
2 risks
- Low volatility (beta 0.4).
- Growth premium of 0.0x vs Biotech & Therapeutics peers. Reasonable for this growth rate.
Growth
Strong growth ahead
Expansion of marketed product uptake and label extensions in existing indications
Value
Growth premium of 0.0x vs Biotech & Therapeutics peers. Reasonable for this growth rate.
Momentum
Strong
+5.9% over 3m
Quality
Excellent
High-growth business (48% revenue growth, 98% gross margin). Pre-profit but investing in growth.
Dividend
None
No dividend
Smart-money signal
Who's buying IONS right now
Insider Form 4s, 13F institutional filings, and Congressional disclosures - at a glance.
Earnings track record
Latest print - beat on both lines
AI-summarized recap of last quarter, plus the surprise on every print.
Next: Jul 29, 2026
APR 29, 2026
Reported EPS of -$0.56 vs -$0.85 consensus (+34.1% surprise). Revenue of $246.0M vs $195.6M expected (+25.8%). Beat on both top and bottom lines.
EPS surprise · last 4Q
1 of 1 beats
Q2 26
+34.1%
Next: Jul 29, 2026
Revenue trend · last 8Q
—
—
—
—
+101%
+17%
-10%
+87%
Q2 24
Q3 24
Q4 24
Q1 25
Q2 25
Q3 25
Q4 25
Q1 26
$225.3M
$133.8M
$226.6M
$131.6M
$452.0M
$156.7M
$203.0M
$246.1M
Margins · last 8Q
Gross
98.8%
Operating
-47.7%
Profit
-37.6%
Wall Street consensus
11 analysts · 82% Buy
Live ratings and price targets aggregated across covering analysts.
Buy
82%
Hold
18%
Sell
0%
Median Price Target
$113.00
▲ +38.1% vs $81.80
Latest: HC Wainwright · Jun 25, 2026
6 analysts covering