Ionis Pharmaceuticals Inc (IONS)
NASDAQHealth CareBiotechnologySnapshot 2026-09-14
$51.44-5.11%
Close 2026-09-14 · 1-day change
NASDAQHealth CareBiotechnologySnapshot 2026-09-14
Research Workspace
Put IONS beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Biotechnology is in steady. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
Primary pillar under pressure — TRYNGOLZA peak net sales exceed $2 billion: TRYNGOLZA peak sales target >$2B; Pelacarsen Phase 3 trial failure undermines commercialization.
View ThesisRevenue is contracting — down about 7% over the past year.
View GrowthRanks in the weakest quality tier of its industry — roughly the bottom 42%, softest on free-cash-flow margins.
View QualityManagement screens strong on earnings delivery, margins, market reaction to earnings.
View ManagementExpectations look reasonable — what the market is pricing in sits in line with or below what analysts forecast.
View ValuationModerate volatility — typically moves about 2% a day.
View RiskIonis Pharmaceuticals' growth depends on the successful launch of its drugs, particularly TRYNGOLZA. Recent results showed Q2 2026 revenue of $268 million, exceeding expectations. Ionis trades at 10× price-to-sales, below the peer median of 12×. This suggests the price reflects less growth than forecasted. The primary risk is the failure of pelacarsen, which missed its primary endpoint in a late-stage trial. Peer multiples imply a price about 32% above where it trades. The thesis is on watch due to pressure on a primary pillar.
Trailing returns as of 2026-09-14. IONS is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 24 analysts currently covering IONS (as of Sep 2026).
Based on 11 Wall Street analysts offering 12-month price targets for IONS in the last 4 months.
Continue this research
Compare IONS with peers and holdings, graph the same reported metric, keep your questions beside the evidence, and return when the facts change.
Free account required to save the handoff. No credit card.
| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| IONS Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 3 valuation methods, at three horizons. As of 2026-09-14. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Biotechnology — fair value, gap to price, and forward P/E.
Compare the value case
Put IONS next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Trial failure impacts future product launches.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-09-14. EPS is implied from price ÷ P/E. Not investment advice.
Current $51.44
The last 12 months of price, then the range of analyst 12-month targets from today’s $51.44.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Bottom 25% on quality vs scored peers
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
Threatens: Launch and commercialize FDA-approved TRYNGOLZA for sHTG
Phase 3 trial failure undermines TRYNGOLZA commercialization.
Advances: Launch zilganersen for Alexander disease in 2026
FDA approval supports launch of zilganersen for Alexander disease.
Threatens: Increase DAWNZERA product sales to $110-120M
Phase 3 setback impacts DAWNZERA sales expectations.
Threatens: Increase TRYNGOLZA peak net sales to >$2B
Missed trial endpoint impacts TRYNGOLZA sales potential.
Advances: Leverage strategic partnership with GSK for bepirovirsen development
Advances partnership with GSK for bepirovirsen development.
Threatens: Increase total revenue by 20% year over year
Price target cut indicates potential revenue growth concerns.
Threatens: Increase TRYNGOLZA peak net sales to >$2B
Trial failure impacts TRYNGOLZA sales potential.