IONS
IONIS PHARMACEUTICALS INC
Next earnings Jul 28, 2026 · consensus $-1.11 EPS, $194M rev
Last earnings +4.2% on 2026-04-29
$81.18
▲ +3.63%$81.18▲ +115.50%
over 1Y
L $37.67EODHDH $86.50
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+3.6%
1W+7.0%
1M+6.1%
3M+12.5%
YTD+1.9%
1Y+115.5%
Buy
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 33 analysts
Buy
RNA-medicine pioneer inflecting to independent commercial launches: revenue +34%, narrowing losses, deep Phase 3 pipeline at 13x sales.
Total revenue $944M · FY2025
Ionis is at a strategic inflection from a royalty/collaboration model to an independent commercial company. FY2025 revenue grew 33.8% to $944M, with commercial revenue up 49% driven by the first independent product launches — TRYNGOLZA ($107.5M net) and DAWNZERA ($7.8M) — plus growing WAINUA royalties (now $49.1M) on top of the SPINRAZA royalty base ($212.3M). The net loss narrowed 16.0% to $381M and loss from operations improved to -$382M from -$475M, even as R&D spending held at $916M to advance a pipeline management describes as nine Phase 3 programs and seven marketed medicines.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $810M | $587M | $788M | $705M | $944M |
| Gross profit | — | — | — | — | — |
| Operating income | -$30.2M | -$410M | -$354M | -$475M | -$382M |
| Net income | -$28.6M | -$270M | -$366M | -$454M | -$381M |
| Diluted EPS | -$0.20 | -$1.90 | -$2.56 | -$3.04 | -$2.38 |
| Net margin | -3.5% | -45.9% | -46.5% | -64.4% | -40.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$14.8B
EV / EBITDA—
EV / Sales15.7
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-2.8%
FCF yield-2.4%
Quality & risk
ROIC (est.)-13.4%
Free cash flow-$320M
Total debt$1.76B
Net cash-$1.39B
Altman Z-Score2.27 grey
Piotroski F-Score4/8
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+3.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-06-242026-06-26open ↗4Period ending 2026-06-252026-06-26open ↗144Filing2026-06-26open ↗144Filing2026-06-26open ↗144Filing2026-06-26open ↗144Filing2026-06-25open ↗8-KPeriod ending 2026-06-242026-06-24open ↗4Period ending 2026-06-122026-06-16open ↗4Period ending 2026-06-152026-06-16open ↗144Filing2026-06-15open ↗144Filing2026-06-12open ↗8-KPeriod ending 2026-06-122026-06-12open ↗
Frequently asked
- Is IONIS PHARMACEUTICALS INC (IONS) a buy?
- IONS currently carries a Buy rating with 3/5 conviction, derived from its latest SEC filings. RNA-medicine pioneer inflecting to independent commercial launches: revenue +34%, narrowing losses, deep Phase 3 pipeline at 13x sales.
- What is IONIS PHARMACEUTICALS INC's quality score?
- IONS scores 46.09803921568627/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000874015, latest 10-Q filed 2026-04-29) · EODHD · analysis by claude-code · as of 6/21/2026, 8:45:35 PM.
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