IONS
Ionis Pharmaceuticals Inc Health Care Pharmaceutical Preparations Russell 3000
$43.52Close
$7.1BMarket cap
$42.38 – $86.5052-week range
Nov 4, 2026Next report
Highlights
Cautions
- Not in an uptrend 0 of 8 trend conditions
- Lagging the market RS 6 · weaker than 94% of stocks over 12 months
- Far from its high 50% below its 52-week high
- Distribution down-day volume 1.7× up-day volume over 50 sessions
- Earnings shrinking EPS −202% year on year
- Results soon Nov 4, 2026, in 3 days
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
50%
1wk
up 1.4%
price change
1mo
down 2.5%
price change
12-month return
down 41%
market up 11% ·
its own down 50%
F-score
3 / 9
Weak
Altman Z
1.02
Elevated risk
P/E
—
price / earnings
PEG
—
P/E / EPS growth
P/B
14.5×
price / book
Earnings yield
down 4.7%
EBIT / enterprise value
Cheaper than
12%
of the market · expensive
Revenue growth
up 34%
year on year
EPS growth
down 202%
latest quarter
Sales growth
down 41%
latest quarter · -128 pts
ROE
down 71%
return on equity
Free cash margin
down 34%
-$320.0M FCF
D/E
2.72
long-term debt / equity
Net debt / EBITDA
—
Interest cover
Lossoperating loss
Piotroski tests
- not yet profitable on its assets
- operating cash flow is negative
- took on more long-term debt
- short-term liquidity weakened
- issued more shares
- gross margin narrowed
- profitability improving
- profits backed by cash
- assets working harder
Repair signals
- Revenue reaccelerating (-10% then +34%)
Trade setup
ATR%
3.9%
$1.70 a day · 2×ATR $40.12
RS
6 / 99
vs the universe
Trend
0 / 8
trend template
Relative volume
0.4×
vs 50-day average
Up/down volume
0.60
50 sessions
Implied move
—
no option chain · report Nov 4, 2026
Trend template · 0 of 8
Screen verdict
Did not qualify for any screen.
Warning signs
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
- Losing money before interest is even paid The company made an operating loss, so interest is not covered at all - the debt is being serviced from cash reserves, asset sales or new borrowing rather than from the business.
- Shareholders diluted The share count rose 3.4% over the year, from 158m to 163m shares. Each existing share owns a smaller fraction of the company than it did a year ago.
Last reported
Jul 29, 2026
Last shock
Jul 9, 2026-24% in one session7.1× volumeon an SEC filing-32% since
Financials
- Gross 98%
- Net -40%
- Free cash -34%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $729.3M | $810.5M | $587.4M | $787.6M | $705.1M | $943.7M |
| Gross margin | 98% | 99% | 98% | 99% | 98% | 98% |
| Operating income | -$172.1M | -$30.2M | -$410.2M | -$353.7M | -$475.1M | -$381.7M |
| Net income | -$444.3M | -$28.6M | -$269.7M | -$366.3M | -$453.9M | -$381.4M |
| Net margin | -61% | -4% | -46% | -47% | -64% | -40% |
| Earnings per share | -$3.18 | -$0.20 | -$1.90 | -$2.56 | -$3.04 | -$2.38 |
| Free cash flow | $772,000 | $18.8M | -$290.1M | -$331.3M | -$546.2M | -$320.0M |
| Free cash margin | 0% | 2% | -49% | -42% | -77% | -34% |
| Cash | $397.7M | $869.2M | $276.5M | $399.3M | $242.1M | $372.3M |
| Long-term debt | $839.6M | — | $1.2B | $1.2B | $1.2B | $1.3B |
| Shareholders' equity | $743.3M | $771.7M | $572.9M | $386.7M | $588.4M | $489.1M |
| Shares outstanding | 140.37m | 141.21m | 142.06m | 144.34m | 157.91m | 163.30m |
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Jul 29, 2026 | Quarterly ↗ | Jun 30, 2026 | 29d |
| Apr 29, 2026 | Quarterly ↗ | Mar 31, 2026 | 29d |
| Feb 26, 2026 | Annual ↗ | Dec 31, 2025 | 57d |
| Oct 29, 2025 | Quarterly ↗ | Sep 30, 2025 | 29d |
| Jul 30, 2025 | Quarterly ↗ | Dec 31, 2025 | -154d |
| Apr 30, 2025 | Quarterly ↗ | Mar 31, 2025 | 30d |
| Feb 19, 2025 | Annual ↗ | Dec 31, 2024 | 50d |
| Nov 6, 2024 | Quarterly ↗ | Sep 30, 2024 | 37d |
| Aug 1, 2024 | Quarterly ↗ | Jun 30, 2024 | 32d |
| May 7, 2024 | Quarterly ↗ | Mar 31, 2024 | 37d |
| Feb 21, 2024 | Annual ↗ | Dec 31, 2023 | 52d |
| Nov 2, 2023 | Quarterly ↗ | Sep 30, 2023 | 33d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 23, 2026 | Regulation FD · Other events ↗ |
| Oct 21, 2026 | Regulation FD · Other events ↗ |
| Sep 23, 2026 | Regulation FD · Other events ↗ |
| Sep 4, 2026 | Regulation FD · Other events ↗ |
| Sep 4, 2026 | Regulation FD · Other events ↗ |
| Jul 29, 2026 | Results ↗ |
| Jul 10, 2026 | Regulation FD ↗ |
| Jul 9, 2026 | Regulation FD · Other events ↗ |
| Jun 24, 2026 | Regulation FD · Other events ↗ |
| Jun 12, 2026 | Other events ↗ |
| Jun 8, 2026 | Director or officer change · Shareholder vote · Regulation FD ↗ |
| May 28, 2026 | Regulation FD · Other events ↗ |