Ionis Pharmaceuticals Inc (IONS)
NASDAQHealth CareBiotechnologySnapshot 2026-10-29
$43.52-1.96%
Close 2026-10-30 · 1-day change
NASDAQHealth CareBiotechnologySnapshot 2026-10-29
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.
The reason to own it still holds.
View ThesisRevenue is contracting — down about 7% over the past year.
View GrowthMiddle-of-the-pack quality for its industry.
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 ValuationThis stock is volatile — it swings about 2% on a typical day and fell roughly 51% in its worst 12-month stretch.
View RiskIONS depends on commercializing its therapies and advancing partnered and rare-disease programs, with revenue growth supporting that case. Q2 FY2026 revenue grew 56% year over year, and reported GAAP losses beat consensus. Shares trade at 8.4× sales versus a 9.6× peer median, and 10.2× their historical multiple. The price reflects less growth than our forecast, despite that peer discount. TRYNGOLZA launch concerns and a 26% next-quarter miss probability threaten the growth case. Peer multiples imply a price about 41% above where it trades; our read remains intact. This read is provisional.
Trailing returns as of 2026-10-30. IONS is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 26 analysts currently covering IONS (as of Oct 2026).
Based on 13 Wall Street analysts offering 12-month price targets for IONS in the last 4 months.
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| 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 2026-10-29. 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.
Advances: Leverage strategic partnership with GSK for bepirovirsen development
Positive data supports bepirovirsen development with GSK.
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 2026-10-30. EPS is implied from price ÷ P/E. Not investment advice.
Current $43.52
The last 12 months of price, then the range of analyst 12-month targets from today’s $43.52.
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
Concerns about TRYNGOLZA launch impact revenue growth.
Advances: Launch zilganersen for Alexander disease in 2026
Successful trial supports launch of zilganersen in 2026.
Threatens: Launch and commercialize FDA-approved TRYNGOLZA for sHTG
Negative trial results impact TRYNGOLZA commercialization plans.
Trial failure impacts future product launches.
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.