RARE
Ultragenyx Pharmaceutical Inc.
Biotechnology
Market Cap$2.55B
5Y Perf.-62.1%
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Stock Comparison
RARE vs IONS
Revenue, margins, valuation, and 5-year total return — side by side.
IONS
Ionis Pharmaceuticals, Inc.
Biotechnology
Market Cap$12.70B
5Y Perf.+36.7%
RARE vs IONS — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | RARE | IONS |
|---|---|---|
| Industry | Biotechnology | Biotechnology |
| Market Cap | $2.55B | $12.70B |
| Revenue (TTM) | $669M | $1.06B |
| Net Income (TTM) | $-609M | $-327M |
| Gross Margin | 83.6% | 98.3% |
| Operating Margin | -83.9% | -33.3% |
| Total Debt | $1.28B | $2.61B |
| Cash & Equiv. | $434M | $372M |
RARE vs IONS — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
RARE
IONS
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Ultragenyx Pharmace… (RARE) | 100 | 37.9 | -62.1% |
| Ionis Pharmaceutica… (IONS) | 100 | 136.7 | +36.7% |
Price return only. Dividends and distributions are not included.
Quick Verdict: RARE vs IONS
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: IONS leads in 5 of 6 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. As sector peers, any of these can serve as alternatives in the same allocation.
RARE
Ultragenyx Pharmaceutical Inc.
The Growth Angle
In this particular matchup, RARE is outpaced on most metrics by others in the set.
Best for: healthcare exposure
IONS
Ionis Pharmaceuticals, Inc.
The Income Pick
IONS carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- beta 0.55
- Rev growth 33.9%, EPS growth 21.7%, 3Y rev CAGR 17.1%
- 126.0% 10Y total return vs RARE's -58.9%
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | IONS | 33.9% revenue growth vs RARE's 20.1% |
| Quality / Margins | IONS | -30.9% margin vs RARE's -91.0% |
| Stability / Safety | IONS | Beta 0.55 vs RARE's 1.42 |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | IONS | +141.2% vs RARE's -26.0% |
| Efficiency (ROA) | IONS | -10.1% ROA vs RARE's -45.8%, ROIC -12.8% vs -89.4% |
RARE vs IONS — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
RARE vs IONS — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLIONSLAGGINGRARE
RAREUltragenyx Pharmaceut…
0leads
IONSIonis Pharmaceuticals…
4leads
6 Total Categories
CATEGORYLEADERvs RAREMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
IONS5/6
Valuation MetricsMultiples, price ratios, and targets
Tied
—
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
IONS5/8
Total Returns1Y, 3Y, 5Y total returns with dividends
IONS5/6
Risk & VolatilityBeta, volatility, and downside exposure
IONS2/2
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
IONS leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
IONS is the larger business by revenue, generating $1.1B annually — 1.6x RARE's $669M. IONS is the more profitable business, keeping -30.9% of every revenue dollar as net income compared to RARE's -91.0%. On growth, IONS holds the edge at +87.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | RAREUltragenyx Pharma… | IONSIonis Pharmaceuti… |
|---|---|---|
| RevenueTrailing 12 months | $669M | $1.1B |
| EBITDAEarnings before interest/tax | -$536M | $4.5B |
| Net IncomeAfter-tax profit | -$609M | -$327M |
| Free Cash FlowCash after capex | -$487M | -$971M |
| Gross MarginGross profit ÷ Revenue | +83.6% | +98.3% |
| Operating MarginEBIT ÷ Revenue | -83.9% | -33.3% |
| Net MarginNet income ÷ Revenue | -91.0% | -30.9% |
| FCF MarginFCF ÷ Revenue | -72.8% | -91.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | -2.4% | +87.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -17.2% | +39.8% |
IONS leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
Evenly matched — RARE and IONS each lead in 1 of 2 comparable metrics.
Valuation Metrics
| Metric | RAREUltragenyx Pharma… | IONSIonis Pharmaceuti… |
|---|---|---|
| Market CapShares × price | $2.5B | $12.7B |
| Enterprise ValueMkt cap + debt − cash | $3.4B | $14.9B |
| Trailing P/EPrice ÷ TTM EPS | -4.45x | -32.29x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | — |
| Price / SalesMarket cap ÷ Revenue | 3.79x | 13.45x |
| Price / BookPrice ÷ Book value/share | — | 25.14x |
| Price / FCFMarket cap ÷ FCF | — | — |
Evenly matched — RARE and IONS each lead in 1 of 2 comparable metrics.
Profitability & Efficiency
IONS leads this category, winning 5 of 8 comparable metrics.
Profitability & Efficiency
IONS delivers a -58.6% return on equity — every $100 of shareholder capital generates $-59 in annual profit, vs $-6 for RARE. On the Piotroski fundamental quality scale (0–9), RARE scores 4/9 vs IONS's 3/9, reflecting mixed financial health.
| Metric | RAREUltragenyx Pharma… | IONSIonis Pharmaceuti… |
|---|---|---|
| ROE (TTM)Return on equity | -6.1% | -58.6% |
| ROA (TTM)Return on assets | -45.8% | -10.1% |
| ROICReturn on invested capital | -89.4% | -12.8% |
| ROCEReturn on capital employed | -46.4% | -14.1% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 3 |
| Debt / EquityFinancial leverage | — | 5.35x |
| Net DebtTotal debt minus cash | $842M | $2.2B |
| Cash & Equiv.Liquid assets | $434M | $372M |
| Total DebtShort + long-term debt | $1.3B | $2.6B |
| Interest CoverageEBIT ÷ Interest expense | -14.49x | -3.64x |
IONS leads this category, winning 5 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
IONS leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in IONS five years ago would be worth $20,587 today (with dividends reinvested), compared to $2,241 for RARE. Over the past 12 months, IONS leads with a +141.2% total return vs RARE's -26.0%. The 3-year compound annual growth rate (CAGR) favors IONS at 29.8% vs RARE's -18.0% — a key indicator of consistent wealth creation.
| Metric | RAREUltragenyx Pharma… | IONSIonis Pharmaceuti… |
|---|---|---|
| YTD ReturnYear-to-date | +9.9% | -3.5% |
| 1-Year ReturnPast 12 months | -26.0% | +141.2% |
| 3-Year ReturnCumulative with dividends | -44.9% | +118.4% |
| 5-Year ReturnCumulative with dividends | -77.6% | +105.9% |
| 10-Year ReturnCumulative with dividends | -58.9% | +126.0% |
| CAGR (3Y)Annualised 3-year return | -18.0% | +29.8% |
IONS leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
IONS leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
IONS is the less volatile stock with a 0.55 beta — it tends to amplify market swings less than RARE's 1.42 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. IONS currently trades 88.6% from its 52-week high vs RARE's 61.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | RAREUltragenyx Pharma… | IONSIonis Pharmaceuti… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.42x | 0.55x |
| 52-Week HighHighest price in past year | $42.37 | $86.74 |
| 52-Week LowLowest price in past year | $18.29 | $31.66 |
| % of 52W HighCurrent price vs 52-week peak | +61.2% | +88.6% |
| RSI (14)Momentum oscillator 0–100 | 61.0 | 52.5 |
| Avg Volume (50D)Average daily shares traded | 1.8M | 2.1M |
IONS leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates RARE as "Buy" and IONS as "Buy". Consensus price targets imply 98.6% upside for RARE (target: $52) vs 39.6% for IONS (target: $107).
| Metric | RAREUltragenyx Pharma… | IONSIonis Pharmaceuti… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $51.50 | $107.27 |
| # AnalystsCovering analysts | 33 | 32 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 1 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Insufficient data to determine a leader in this category.
Key Takeaway
IONS leads in 4 of 6 categories — strongest in Income & Cash Flow and Profitability & Efficiency. 1 category is tied.
Best OverallIonis Pharmaceuticals, Inc. (IONS)Leads 4 of 6 categories
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RARE vs IONS: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is RARE or IONS a better buy right now?
For growth investors, Ionis Pharmaceuticals, Inc.
(IONS) is the stronger pick with 33. 9% revenue growth year-over-year, versus 20. 1% for Ultragenyx Pharmaceutical Inc. (RARE). Analysts rate Ultragenyx Pharmaceutical Inc. (RARE) a "Buy" — based on 33 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — RARE or IONS?
Over the past 5 years, Ionis Pharmaceuticals, Inc.
(IONS) delivered a total return of +105. 9%, compared to -77. 6% for Ultragenyx Pharmaceutical Inc. (RARE). Over 10 years, the gap is even starker: IONS returned +126. 0% versus RARE's -58. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — RARE or IONS?
By beta (market sensitivity over 5 years), Ionis Pharmaceuticals, Inc.
(IONS) is the lower-risk stock at 0. 55β versus Ultragenyx Pharmaceutical Inc. 's 1. 42β — meaning RARE is approximately 160% more volatile than IONS relative to the S&P 500.
04Which is growing faster — RARE or IONS?
By revenue growth (latest reported year), Ionis Pharmaceuticals, Inc.
(IONS) is pulling ahead at 33. 9% versus 20. 1% for Ultragenyx Pharmaceutical Inc. (RARE). On earnings-per-share growth, the picture is similar: Ionis Pharmaceuticals, Inc. grew EPS 21. 7% year-over-year, compared to 7. 3% for Ultragenyx Pharmaceutical Inc.. Over a 3-year CAGR, RARE leads at 22. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — RARE or IONS?
Ionis Pharmaceuticals, Inc.
(IONS) is the more profitable company, earning -40. 4% net margin versus -85. 4% for Ultragenyx Pharmaceutical Inc. — meaning it keeps -40. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: IONS leads at -40. 5% versus -79. 5% for RARE. At the gross margin level — before operating expenses — IONS leads at 98. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — RARE or IONS?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
07Is RARE or IONS better for a retirement portfolio?
For long-horizon retirement investors, Ionis Pharmaceuticals, Inc.
(IONS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 55), +126. 0% 10Y return). Both have compounded well over 10 years (IONS: +126. 0%, RARE: -58. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between RARE and IONS?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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