Ionis Pharmaceuticals IONS
United StatesHealthcare · BiotechnologyUSD
83.64 USD (+89.4%)
22 analysts
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Ionis Pharmaceuticals is a biopharmaceutical company that develops medicines based on antisense oligonucleotide technology to treat genetic, neurological, and cardiovascular diseases, generating revenue primarily through collaboration and licensing agreements with other pharmaceutical companies.
Key points
from its scores- ✓Favourable backdrop8.2
- ✕Weak growth0.0
- ✕Little competitive advantage0.7
- ✕Demanding valuation0.8
AI analysis
bottom line, main risk, context and newsThe company combines very negative profitability, collapsed growth, and a valuation that does not compensate for the risk of a deteriorating business.
Ionis Pharmaceuticals shows a sound financial health (net cash and liquidity of 7.89), but its quality and growth are very poor: operating margin of -38.18%, ROE of -105.50%, and a revenue decline of -40.70%. Valuation is extremely low (FCF yield of -4.73%) and momentum is negative (-22.52%), reflecting a business in deterioration with no visible short-term catalysts.
The main risk is the dependence on the success of its drug pipeline: without significant proprietary revenue and with a very negative operating margin, any delay or failure in clinical trials or regulatory approval could compromise its long-term viability.
Context and risks
Ionis Pharmaceuticals operates in the U.S. biotechnology sector, subject to moderate regulatory and governance scrutiny. The company has no significant proprietary product revenue and depends on FDA approval for its drugs in development, adding a specific regulatory risk to its business model.
Is Ionis Pharmaceuticals stock cheap or expensive?
at the analysis dateOn Price / sales, it trades 146% above the Healthcare median.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| Price / book | 16.6 | 4.1 | +305% |
| Price / sales | 8.4 | 3.4 | +146% |
Sector: median of the 217 Healthcare companies analysed. In bold, the multiples used for the comparison.
Valuation score: 0.8 out of 10 (median for Healthcare: 4.7).
Average analyst target: 83.64 USD, +89.4% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 0.7 (sector 5.5), Growth 0.0 (sector 6.6).
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Healthcare medianValuation
- Forward P/E
- −39.7
- EV / EBITDA
- −12.8
- Price / book
- 16.6
- Price / sales
- 8.4
- Market cap
- 7.3B USD
- Enterprise value
- 7.4B USD
Profitability
- ROE
- −105.5%
- ROA
- −12.4%
- ROIC (approx.)
- −12.7%
- Gross margin
- −6.9%
- Operating margin
- −38.2%
- Net margin
- −64.7%
- Free cash flow
- −346.8M USD
- FCF yield
- −4.7%
Solvency
- Total debt
- 2.2B USD
- Net debt
- 86.7M USD
- Cash
- 2.1B USD
- EBITDA
- −579.5M USD
- Net debt / EBITDA
- −0.15
- Debt / equity
- 497.80
- Current ratio
- 7.89
- Quick ratio
- 6.85
Growth
- Revenue growth
- −40.7%
- EPS (TTM)
- −3.48 USD
- EPS (forward)
- −1.11 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 0.38
- Analyst consensus
- Buy (22)
- Target price
- 83.64 USD
- 52-week range
- 42.63 – 86.74
Recent news
All IONS news →Compare it with its sector
All 217 in Healthcare →Frequently asked questions about Ionis Pharmaceuticals
Is Ionis Pharmaceuticals stock cheap or expensive?
On Price / sales, it trades 146% above the Healthcare median. Valuation score: 0.8 out of 10 (median for Healthcare: 4.7). Average analyst target: 83.64 USD, +89.4% versus the price. This is not investment advice.
What score does Ionis Pharmaceuticals get on MeridIAn Screener?
It scores 2.5 out of 10, rank 2,111 of 2,130 (better than 1% of the companies analysed). Its strongest category is Risk & Context (8.2) and its weakest, Growth (0.0). Analysis of 08/10/2026.
How much is Ionis Pharmaceuticals worth on the stock market?
Its market capitalisation is 7.3B USD and its enterprise value, debt included, is 7.4B USD.
How much debt does Ionis Pharmaceuticals have?
Its net debt (debt minus cash) is 86.7M USD.
Does Ionis Pharmaceuticals pay a dividend?
It pays no dividend, or almost none.
How has Ionis Pharmaceuticals stock performed over the last year?
It has fallen 36.9% over the last year, excluding dividends. Over the last 52 weeks it has traded between 42.63 and 86.74 USD. Past performance does not guarantee future results.
What do analysts think of Ionis Pharmaceuticals?
22 analysts cover it; their average recommendation is “Buy” and their average target is 83.64 USD (+89.4% versus the price). It is an estimate, not market data.