Ionis Pharmaceuticals, Inc.
For three decades, we have invented medicines that bring better futures to people with serious diseases. As a pioneer in RNA-targeted medicines with a deep understanding of disease biology and an industry-leading drug discovery technology, we are driven to deliver innovative, life-changing advances for patients.
$43.08
-$1.04 (-2.37%)
EOD Oct 16, 2026
The business is unprofitable at the operating level (-40.45% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 33.8% YoY with margins expanding 26.9pp.
Negative free cash flow of -$320M. The business is consuming cash, not generating it.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$874M
▲ +33.8% YoY
Net Income (TTM)
-$565M
▲ +16.0% YoY
Op. Margin
-68.00%
▲ +26.9pp YoY
ROIC
-38.69%
▲ +6.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$561M
▲ +41.4% YoY
Op. Cash Flow (TTM)
-$496M
▲ +46.4% YoY
Net Debt
-$1.79B
Net Cash Position
Cash & Equiv.
$2.05B
5Y CAGR: +5.3%
Continue Research
SourceComputed from the 10-Q filed 23 Jul 2026, covering the period ending 30 Jun 2026, as reported to the SEC. Data last refreshed 12 Oct 2026. How this is calculated.
Price from market data, last close as of 16 Oct 2026. Fiscal year ends Dec. Sector medians are approximate S&P 500 benchmarks and update periodically.
Is Ionis Pharmaceuticals (IONS) overvalued?
Ionis Pharmaceuticals (IONS)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Ionis Pharmaceuticals scores 39/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
Is Ionis Pharmaceuticals a high-quality business?+
Ionis Pharmaceuticals scores 39 out of 100 on Intrinsiqq's quality score, a weighted blend of 6 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a -68.0% operating margin and a -38.7% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Is Ionis Pharmaceuticals a good stock to buy right now?+
That depends on valuation and quality together, not either alone. you should weigh IONS's valuation and scores 39/100 on quality (lower-quality). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.
Related stocks: Pharmaceutical Preparations
Spot a number that looks wrong?
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.