Ionis Pharmaceuticals operates a high-margin, capital-light RNA-targeting platform, with gross margins consistently above 96% and a 99.0% gross margin in 2026Q2.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue is highly episodic, with a 40.7% year-over-year decline in 2026Q2 to $267.9M, while gross margins remain exceptionally high at 99.0%, yet operating losses persist at -$102.3M due to R&D and SG&A costs that have outpaced revenue growth.
Ionis Pharmaceuticals specializes in discovering and developing antisense therapy, as well as RNA interference and CRISPR therapeutics, positioning it as a leader in innovative biotechnology.
The company maintains a dedicated Investor Relations website, providing detailed business information for stockholders, potential investors, and financial analysts, indicating transparency and engagement with the investment community.
Latest stock analysis, price targets, earnings estimates, and headlines for Ionis Pharmaceuticals are readily available, facilitating informed investment decisions and market interest.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Jul 29, 2026 | -$0.69+36.7% vs -$1.09 | $268M+41.7% vs $189M |
Q2 2026 Apr 29, 2026 | -$0.56+34.1% vs -$0.85 | $246M+25.8% vs $196M |
Q1 2026 Feb 25, 2026 | -$1.41-14.0% vs -$1.24 | $203M+30.1% vs $156M |
Q4 2025 Oct 29, 2025 | -$0.61+47.0% vs -$1.15 | $157M+2.1% vs $154M |
Evaluate the expected performance of Ionis Pharmaceuticals (IONS) for the quarter ended September 2026, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
CARLSBAD, Calif.--(BUSINESS WIRE)--Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) announced today that it will host a live webcast on Monday, November 9 at 9:00 a.m. Eastern Time to discuss its third quarter 2026 financial results and highlight progress on key programs. The webcast may be accessed at https://ir.ionis.com/events-and-presentations/upcoming-events. A replay will be available for a limited time at the same address. About Ionis Pharmaceuticals, Inc. For three decades, Ionis has invented.
Ionis Pharmaceuticals (IONS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The portfolio generated a negative absolute return but outpaced the Russell Midcap Growth Index. During the quarter, we initiated new positions in Manhattan Associates, Okta and Clean Harbors. We ended our investment campaign in Monolithic Power Systems, FTAI Aviation and Ionis Pharmaceuticals during the quarter.
Benchmark IONS against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Ionis Pharmaceuticals, Inc. (IONS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $39.42 | $6.55B | -11.55 | 33.87% | -64.64% | -110.84% | — | |
| $155.94 | $20.82B | 7.90 | 65.19% | 54.34% | 159.72% | — | |
| $17.82 | $1.88B | 127.93 | 15.58% | 0.75% | 1.04% | — | |
| $56.03 | $10.83B | -567.68 | 12.87% | -0.52% | -0.31% | — | |
| $15.43 | $1.52B | -3.01 | 20.13% | -71.78% | — | — | |
| $58.16 | $8.19B | -26.06 | 23258.15% | -47.79% | -60.05% | — |
Ionis Pharmaceuticals, Inc. (IONS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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Ionis Pharmaceuticals, Inc. (IONS) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jul 29, 2026·SEC
Jul 10, 2026·SEC
Jul 9, 2026·SEC
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Ionis Pharmaceuticals, Inc. (IONS) stock FAQ — growth, dividends, profitability & financials explained
Ionis Pharmaceuticals, Inc. (IONS) reported $873.8M in revenue over the trailing twelve months. Revenue was $944.0M in fiscal year 2025. That is 4059% more than the $22.7M of fiscal year 1996.
Ionis Pharmaceuticals, Inc. (IONS) revenue fell by 7.4% over the trailing twelve months, compared with the twelve months before.
No. Ionis Pharmaceuticals, Inc. (IONS) reported a net loss of $564.8M over the trailing twelve months.
Ionis Pharmaceuticals, Inc. (IONS) had a return on equity (ROE) of -110.8% over the trailing twelve months. A negative ROE means the company lost money over the period.
Ionis Pharmaceuticals, Inc. (IONS) had negative free cash flow of $558.9M over the trailing twelve months.
