Ionis Pharmaceuticals, Inc. (IONS)Healthcare | Biotechnology | Carlsbad, United States | NasdaqGS
42.38 USD
-1.29
(-2.954%) ⇩
(Oct. 13, 2026, 4 p.m.
EDT)
After hours: 42.51 +0.13 (0.307%) ⇧ (Oct. 13, 2026, 6:45 p.m. EDT) |
Hot Take ↕ | Oct. 10, 2026, 1:08 a.m. EDT
The investment case for Ionis is currently broken by a perfect storm of clinical failure and deteriorating financials. The company recently suffered a 23% drop following a surprise trial failure, which has compounded into a brutal selling streak, with the stock sliding nearly 40% over nine straight days. Fundamentally, the picture is stark: revenue has contracted by 40.7%, the company is burning cash with negative operating margins of 38%, and it is hemorrhaging free cash flow. Despite a high analyst target price suggesting a potential turnaround, the underlying business metrics—negative revenue growth and a lack of profitability—do not support a 'buy' thesis yet. The balance sheet is fragile with debt significantly outweighing equity, and the recent price action confirms the market is pricing out the risk of further setbacks. With no dividend to provide income, investors are left with a speculative bet on a recovery that has not yet materialized in the data. |
| Model | MAE |
|---|---|
| MSTL ✓ | 0.061824 |
| AutoETS | 0.063256 |
| AutoTheta | 0.080418 |
| AutoARIMA | 0.237122 |
Forecast horizon: 45 days | Selected: MSTL
| Forecast Reliability | |
|---|---|
| Score | 25% |
| H-stat | 12.89 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.007 |
| Excess Kurtosis | 1.10 |
| Attribute | Value |
|---|---|
| Sector | Healthcare |
| Debt to Equity Ratio | 497.802 |
| Revenue per Share | 5.359 |
| Market Cap | 7,042,891,776 |
| Forward P/E | -38.10 |
| Beta | 0.38 |
| Profit Margins | -64.66% |
| Website | https://www.ionis.com |
As of Oct. 10, 2026, 1:08 a.m. EDT: Speculators are aggressively positioning for downside protection, evidenced by massive put volume and open interest relative to calls, particularly in the $50-$60 strike range. While there is some call activity at the $50 level, the overwhelming sentiment is hedging against further declines rather than betting on a rally. Implied volatility remains elevated, reflecting uncertainty.
| Attribute | Value |
|---|---|
| 52 Week Change | -0.3967399 |
| Address1 | 2,855 Gazelle Court |
| All Time High | 86.74 |
| All Time Low | 2.5 |
| Ask | 46.28 |
| Ask Size | 2 |
| Audit Risk | 6 |
| Average Analyst Rating | 1.8 - Buy |
| Average Daily Volume10 Day | 2,902,660 |
| Average Daily Volume3 Month | 3,339,141 |
| Average Volume | 3,339,141 |
| Average Volume10Days | 2,902,660 |
| Beta | 0.382 |
| Bid | 39.94 |
| Bid Size | 2 |
| Board Risk | 3 |
| Book Value | 2.655 |
| City | Carlsbad |
| Compensation As Of Epoch Date | 1,767,139,200 |
| Compensation Risk | 2 |
| Country | United States |
| Crypto Tradeable | 0 |
| Currency | USD |
| Current Price | 42.38 |
| Current Ratio | 7.893 |
| Custom Price Alert Confidence | HIGH |
| Date Short Interest | 1,790,726,400 |
| Day High | 43.575 |
| Day Low | 42.36 |
| Debt To Equity | 497.802 |
| Display Name | Ionis Pharmaceuticals |
| Dividend Yield | 0.0 |
| Earnings Call Timestamp End | 1,785,328,200 |
| Earnings Call Timestamp Start | 1,785,328,200 |
| Earnings Timestamp | 1,785,328,200 |
| Earnings Timestamp End | 1,793,795,400 |
| Earnings Timestamp Start | 1,793,795,400 |
| Ebitda | -579,484,992 |
| Ebitda Margins | -0.66296 |
| Enterprise To Ebitda | -12.303 |
| Enterprise To Revenue | 8.157 |
| Enterprise Value | 7,129,558,528 |
| Eps Current Year | -2.70215 |
| Eps Forward | -1.1123 |
| Eps Trailing Twelve Months | -3.48 |
| Esg Populated | 0 |
| Exchange | NMS |
| Exchange Data Delayed By | 15 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 52.647 |
| Fifty Day Average Change | -10.266998 |
| Fifty Day Average Change Percent | -0.19501583 |
| Fifty Two Week Change Percent | -39.67399 |
| Fifty Two Week High | 86.74 |
| Fifty Two Week High Change | -44.359997 |
| Fifty Two Week High Change Percent | -0.5114134 |
| Fifty Two Week Low | 42.36 |
| Fifty Two Week Low Change | 0.020000458 |
| Fifty Two Week Low Change Percent | 0.00047215432 |
| Fifty Two Week Range | 42.36 - 86.74 |
| Financial Currency | USD |
| First Trade Date Milliseconds | 674,487,000,000 |
| Float Shares | 164,823,272 |
| Forward Eps | -1.1123 |
| Forward P E | -38.10123 |
| Free Cashflow | -346,764,640 |
| Full Exchange Name | NasdaqGS |
| Full Time Employees | 1,480 |
| Fullday Change | -1.1599998 |
| Fullday Change Percent | -2.6562855 |
| Fullday Price | 42.38 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Governance Epoch Date | 1,790,812,800 |
| Gross Margins | -0.06933 |
| Gross Profits | -60,603,000 |
| Has Pre Post Market Data | 1 |
| Held Percent Insiders | 0.0060900003 |
| Held Percent Institutions | 1.1034 |
| Implied Shares Outstanding | 166,184,322 |
| Industry | Biotechnology |
| Industry Disp | Biotechnology |
| Industry Key | biotechnology |
| Ir Website | http://ir.isispharm.com/phoenix.zhtml?c=222170&p=irol-irhome |
| Is Earnings Date Estimate | 0 |
| Language | en-US |
| Last Fiscal Year End | 1,767,139,200 |
| Long Business Summary | Ionis Pharmaceuticals, Inc., a commercial-stage biotechnology company, provides RNA-targeted medicines in the United States. 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. |
| Long Name | Ionis Pharmaceuticals, Inc. |
| Market | us_market |
| Market Cap | 7,042,891,776 |
| Market State | PREPRE |
| Max Age | 86,400 |
| Message Board Id | finmb_30300 |
| Most Recent Quarter | 1,782,777,600 |
| Net Income To Common | -565,174,016 |
| Next Fiscal Year End | 1,798,675,200 |
| Non Diluted Market Cap | 7,300,477,265 |
| Number Of Analyst Opinions | 22 |
| Open | 43.55 |
| Operating Cashflow | -496,433,984 |
| Operating Margins | -0.38176 |
| Overall Risk | 3 |
| Payout Ratio | 0.0 |
| Peg Ratio | 27.33 |
| Phone | 760 931 9200 |
| Post Market Change | 0.12999725 |
| Post Market Change Percent | 0.30674198 |
| Post Market Price | 42.51 |
| Post Market Time | 1,791,931,517 |
| Previous Close | 43.67 |
| Price Eps Current Year | -15.683807 |
| Price Hint | 2 |
| Price To Book | 15.962336 |
| Price To Sales Trailing12 Months | 8.057371 |
| Profit Margins | -0.64658 |
| Quick Ratio | 6.847 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | EQUITY |
| Recommendation Key | buy |
| Recommendation Mean | 1.79167 |
| Region | US |
| Regular Market Change | -1.29 |
| Regular Market Change Percent | -2.95397 |
| Regular Market Day High | 43.575 |
| Regular Market Day Low | 42.36 |
| Regular Market Day Range | 42.36 - 43.575 |
| Regular Market Open | 43.55 |
| Regular Market Previous Close | 43.67 |
| Regular Market Price | 42.38 |
| Regular Market Time | 1,791,921,601 |
| Regular Market Volume | 2,977,440 |
| Return On Assets | -0.12425 |
| Return On Equity | -1.05496 |
| Revenue Growth | -0.407 |
| Revenue Per Share | 5.359 |
| Sand P52 Week Change | 0.17502642 |
| Sector | Healthcare |
| Sector Disp | Healthcare |
| Sector Key | healthcare |
| Share Holder Rights Risk | 5 |
| Shares Outstanding | 166,184,322 |
| Shares Percent Shares Out | 0.1354 |
| Shares Short | 22,508,744 |
| Shares Short Previous Month Date | 1,788,134,400 |
| Shares Short Prior Month | 20,924,638 |
| Short Name | Ionis Pharmaceuticals, Inc. |
| Short Percent Of Float | 0.17940001 |
| Short Ratio | 5.07 |
| Source Interval | 15 |
| State | CA |
| Symbol | IONS |
| Target High Price | 105.0 |
| Target Low Price | 54.0 |
| Target Mean Price | 83.63636 |
| Target Median Price | 85.0 |
| Total Cash | 2,102,353,024 |
| Total Cash Per Share | 12.651 |
| Total Debt | 2,189,019,904 |
| Total Revenue | 874,092,992 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing Eps | -3.48 |
| Trailing Peg Ratio | None |
| Triggerable | 1 |
| Two Hundred Day Average | 69.3361 |
| Two Hundred Day Average Change | -26.956097 |
| Two Hundred Day Average Change Percent | -0.38877437 |
| Type Disp | Equity |
| Volume | 2,977,440 |
| Website | https://www.ionis.com |
| Zip | 92,010 |