Ionis Pharmaceuticals Inc Stock Research

Market Summary

USD35.00+0.81

Market Closed

2.37%

IONS Alerts

1 major insider sales recently.
Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)
Losses in recent quarter

IONS Stock Price

IONS RSI Chart

IONS Valuation

Market Cap

5.0B

Price/Earnings (Trailing)

-18.43

Price/Sales (Trailing)

8.46

EV/EBITDA

-19.94

Price/Free Cashflow

-17.14

IONS Price/Sales (Trailing)

IONS Profitability

EBT Margin

-43.92%

Return on Equity

-47.08%

Return on Assets

-10.64%

Free Cashflow Yield

-5.83%

IONS Fundamentals

IONS Revenue

Revenue (TTM)

587.4M

Revenue Y/Y

-65.48%

Revenue Q/Q

-4.93%

IONS Earnings

Earnings (TTM)

-269.7M

Earnings Y/Y

-123.34%

Earnings Q/Q

-11.57%

Price Action

52 Week Range

31.4648.82

(Low)(High)

Last 7 days

-4.0%

Last 30 days

-13.8%

Last 90 days

-10.5%

Trailing 12 Months

4.6%

IONS Financial Health

Current Ratio

7.07

IONS Investor Care

Shares Dilution (1Y)

0.60%

Diluted EPS (TTM)

-1.9

Peers (Alternatives to Ionis Pharmaceuticals)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
BGNE	304.8B	1.4B	-3.73%	61.04%	-152.12	215.28	20.37%	-37.45%
ABBV	275.0B	58.1B	0.21%	1.63%	23.24	4.74	3.30%	2.55%
REGN	80.1B	12.2B	-0.48%	14.17%	18.47	6.58	-24.26%	-46.28%
VRTX	77.3B	8.9B	-1.64%	19.14%	23.26	8.65	17.91%	41.84%
ALNY	23.5B	1.0B	-16.46%	21.47%	-20.78	22.66	22.88%	-32.64%
SRPT	13.2B	933.0M	21.02%	90.98%	-18.71	14.11	32.93%	-67.99%
UTHR	10.1B	1.9B	-15.04%	21.63%	13.93	5.23	14.88%	52.86%
MID-CAP
MDGL	4.5B	504.0K	-6.48%	165.34%	-15.07	2.5K	-66.53%	-22.12%
RARE	2.8B	363.3M	-7.03%	-36.05%	-3.99	7.77	3.39%	-55.81%
BPMC	2.7B	204.0M	2.71%	-22.88%	-4.84	13.22	13.30%	13.44%
MRTX	2.5B	12.4M	-10.70%	-44.17%	-3.35	199.44	-	-27.34%
SMALL-CAP
CPRX	1.6B	191.8M	-7.72%	90.19%	24.49	8.55	43.59%	60.82%
MGNX	429.6M	93.0M	-0.16%	-22.78%	-2.25	4.62	-19.83%	-30.37%
CRBP	24.0M	-	-31.83%	665.59%	-0.57	19.11	-77.61%	7.22%
CYTK	3.5M	94.6M	-15.04%	9.81%	-0.01	0.04	34.30%	-80.65%

Financials for Ionis Pharmaceuticals

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-32.9%	587,367,000	875,483,000	848,809,000	840,768,000	810,456,000
S&GA Expenses	7.4%	150,295,000	139,945,000	136,622,000	159,275,000	186,347,000
EBITDA	-772.7%	-235,535,000	35,013,000	-1,953,000	20,852,000	-
EBITDA Margin	-1102.7%	-0.40	0.04	0.00	0.02	-
Earnings Before Taxes	-2391.0%	-257,985,000	11,261,000	-25,803,000	-3,476,000	-29,148,000
EBT Margin	-3514.6%	-0.44	0.01	-0.03	0.00	-
Interest Expenses	-5.9%	8,122,000	8,629,000	8,830,000	9,057,000	9,349,000
Net Income	-3784.2%	-269,722,000	7,321,000	-28,153,000	-3,893,000	-28,597,000
Net Income Margin	-5591.6%	-0.46	0.01	-0.03	0.00	-
Free Cahsflow	-351.3%	-290,091,000	115,428,000	86,502,000	40,923,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	4.6%	2,534	2,422	2,456	2,519	2,612
Current Assets	2.3%	2,203	2,152	2,191	2,253	2,345
Cash Equivalents	-12.2%	276	315	522	543	869
Inventory	6.7%	22.00	21.00	20.00	24.00	25.00
Net PPE	-58.9%	74.00	181	177	178	178
Liabilities	7.3%	1,961	1,828	1,831	1,810	1,840
Current Liabilities	9.9%	312	283	268	228	241
Shareholder's Equity	-3.6%	573	594	625	710	772
Retained Earnings	-3.8%	-1,429	-1,377	-1,330	-1,225	-1,159
Additional Paid-In Capital	1.2%	2,060	2,035	2,009	1,983	1,964
Accumulated Depreciation	-	103	-	-	-	-
Shares Outstanding	0.0%	142	142	142	142	141

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-311.8%	-274	130	98.00	54.00	31.00
Share Based Compensation	3.5%	100	97.00	104	109	121
Cashflow From Investing	30.8%	-262	-379	-73.77	-171	195
Cashflow From Financing	17.2%	-55.29	-66.77	-67.14	246	246
Buy Backs	NaN%	0.00	0.00	-	-	-

Risks for IONS

What is the probability of a big loss on IONS?

90%

Probability that Ionis Pharmaceuticals stock will be more than 20% underwater in next one year

65.4%

Probability that Ionis Pharmaceuticals stock will be more than 30% underwater in next one year.

21.1%

Probability that Ionis Pharmaceuticals stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does IONS drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Ionis Pharmaceuticals was unfortunately bought at previous high price.

Drawdowns

Returns for IONS

Cumulative Returns on IONS

-1.1%

7-Year Cumulative Returns

-7.9%

5-Year Cumulative Returns

-10.9%

3-Year Cumulative Returns

What are the long-term rolling returns for IONS?

FIve years rolling returns for Ionis Pharmaceuticals.

Annualized Returns

Which funds bought or sold IONS recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	added	19.15	4,959	329,959	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-0.05	-102,725	596,275	-%
2023-03-10	BAILLIE GIFFORD & CO	added	2.75	-1,760,830	12,607,200	0.01%
2023-03-06	NORTH STAR ASSET MANAGEMENT INC	unchanged	-	-88,306	516,694	0.03%
2023-03-06	Rockefeller Capital Management L.P.	unchanged	-	-17,000	97,000	-%
2023-02-28	Voya Investment Management LLC	added	-	-453,638	2,654,360	-%
2023-02-24	NATIXIS	added	19.09	93,038	6,031,040	0.03%
2023-02-24	SRS Capital Advisors, Inc.	reduced	-59.46	-1,433	567	-%
2023-02-21	MACQUARIE GROUP LTD	unchanged	-	17,000	4,110,000	-%
2023-02-21	MACQUARIE GROUP LTD	added	78.85	19,376,000	56,341,000	0.07%

Latest Funds Activity

Are funds buying IONS calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own IONS

No. of Funds

Ionis Pharmaceuticals News

Schedule 13G FIlings of Ionis Pharmaceuticals

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	bb biotech ag	6.8%	9,635,000	SC 13G/A
Feb 14, 2023	t. rowe price investment management, inc.	8.2%	11,678,259	SC 13G
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	9.54%	13,546,694	SC 13G/A
Feb 01, 2023	blackrock inc.	6.5%	9,182,911	SC 13G/A
Apr 11, 2022	price t rowe associates inc /md/	10.1%	14,350,460	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	8.8%	12,490,280	SC 13G/A
Feb 11, 2022	bb biotech ag	7.2%	10,232,973	SC 13G/A
Feb 10, 2022	vanguard group inc	8.50%	12,007,076	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A

IONS Fair Value

Ionis Pharmaceuticals fair value in different scenarios

The table shows the Fair Value estimates for Ionis Pharmaceuticals for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	4.15 -88.14%	5.44 -84.46%	11.00 -68.57%	20.99 -40.03%	25.62 -26.80%
Current Inflation	3.91 -88.83%	5.05 -85.57%	9.94 -71.60%	18.60 -46.86%	22.56 -35.54%
Very High Inflation	3.60 -89.71%	4.55 -87.00%	8.66 -75.26%	15.76 -54.97%	18.95 -45.86%

Historical Ionis Pharmaceuticals Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Ionis Pharmaceuticals

View All Filings

Date Filed	Form Type	Document
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Feb 22, 2023	8-K	Current Report
Feb 22, 2023	10-K	Annual Report
Feb 14, 2023	5	Insider Trading
Feb 14, 2023	SC 13G	Major Ownership Report
Feb 14, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for IONS

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-28	O'NEIL PATRICK R.	acquired	9,185	30.515	301	evp clo & general counsel
2023-02-28	HOUGEN ELIZABETH L	acquired	4,973	30.515	163	evp, finance & cfo
2023-02-28	BENNETT C FRANK	acquired	11,687	30.515	383	evp, chief scientific officer
2023-02-28	Swayze Eric	acquired	17,546	30.515	575	evp research
2023-02-28	Geary Richard S	acquired	17,546	30.515	575	evp, chief development officer
2023-02-06	HOUGEN ELIZABETH L	sold	-84,392	40.5927	-2,079	evp, finance & cfo
2023-02-06	Cadoret-Manier Onaiza	sold	-58,996	40.6595	-1,451	evp, chf gl pdt str & oper ofc
2023-02-06	Geary Richard S	sold	-78,070	40.6615	-1,920	evp, chief development officer
2023-02-06	Schneider Eugene	sold	-57,464	40.6682	-1,413	evp, chf clinical develop ofcr
2023-02-06	BENNETT C FRANK	sold	-73,560	40.5738	-1,813	evp, chief scientific officer

About Ionis Pharmaceuticals

Brett P. Monia

www.ionispharm.com

660

Ionis Pharmaceuticals, Inc. discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy. It is involved in developing neurology products that include Tominersen for Huntington's diseases; Tofersen for amyotrophic lateral sclerosis (ALS); IONIS-MAPTRx for Alzheimer's diseases; IONIS-C9Rx for genetic form of ALS; ION859 for Parkinson's disease; ION464 for multiple system atrophy and Parkinson's disease; ION541 for amyotrophic lateral sclerosis; and IONIS-DNM2-2.5Rx for centronuclear myopathy. The company is also developing products for cardiometabolic disease, such as IONIS-TTR-LRx for transthyretin amyloidosis and IONIS-GHR-LRx for acromegaly; IONIS-APOCIII-LRx for familial chylomicronemia syndrome and TG- driven diseases; IONIS-APOCIII-LRx for treatment resistant hypertension; Pelacarsen for Lp(a)cardiovascular disease risk reduction; Vupanorsen for sHTG/CVDRR; IONIS-FXI-LRx for clotting disorders; ION449 for cardiovascular diseases; and IONIS-GCGRRx for diabetics. In addition, it develops IONIS-ENAC-2.5Rx for cystic fibrosis and chronic obstructive pulmonary disease; IONIS-PKK-LRx for hereditary angioedema; Danvatirsen for cancer; IONIS-TMPRSS6-LRx for beta-thalassemia and iron toxicity; IONIS-HBVRx for hepatitis B virus; IONIS-AR-2.5Rx for prostate cancer; IONIS-FB-LRx for age-related macular degeneration and IgA nephropathy; and ION357 for retinitis pigmentosa. It has a collaboration agreement with AstraZeneca; GlaxoSmithKline plc; Janssen Biotech, Inc.; Bayer AG; Novartis AG; Pfizer, Inc.; Biogen Inc.; Flamingo Therapeutics, Inc.; and Roche. Ionis Pharmaceuticals, Inc. was founded in 1989 and is based in Carlsbad, California.

IONS Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Revenue	$ 587,367	$ 810,456	$ 729,264
Expenses:
Cost of sales	14,116	10,842	11,947
Research, development and patent	833,147	643,453	535,077
Selling, general and administrative	150,295	186,347	354,322
Total operating expenses	997,558	840,642	901,346
Loss from operations	(410,191)	(30,186)	(172,082)
Other income (expense):
Investment income	25,331	10,044	30,562
Interest expense	(8,122)	(9,349)	(9,510)
Gain (loss) on investments	(7,333)	10,103	16,540
Gain on sale of real estate assets	149,604	0	0
Other expenses	(7,274)	(9,760)	(62)
Loss before income tax benefit (expense)	(257,985)	(29,148)	(134,552)
Income tax benefit (expense)	(11,737)	551	(345,191)
Net loss	(269,722)	(28,597)	(479,743)
Net loss attributable to noncontrolling interest in Akcea Therapeutics, Inc.	0	0	35,480
Net loss attributable to Ionis Pharmaceuticals, Inc. common stockholders	$ (269,722)	$ (28,597)	$ (444,263)
Basic net loss per share (in dollars per share)	$ (1.9)	$ (0.2)	$ (3.18)
Shares used in computing basic net loss per share (in shares)	141,848	141,021	139,612
Diluted net loss per share (in dollars per share)	$ (1.9)	$ (0.2)	$ (3.18)
Shares used in computing diluted net loss per share (in shares)	141,848	141,021	139,612
Commercial Revenue [Member]
Revenue:
Revenue	$ 303,358	$ 342,395	$ 364,699
SPINRAZA Royalties [Member]
Revenue:
Revenue	242,314	267,776	286,583
TEGSEDI and WAYLIVRA Revenue, Net [Member]
Revenue:
Revenue	30,051	55,500	69,999
Licensing and Other Royalty Revenue [Member]
Revenue:
Revenue	30,993	19,119	8,117
Research and Development Revenue [Member]
Revenue:
Revenue	284,009	468,061	364,565
Collaborative Agreement Revenue [Member]
Revenue:
Revenue	207,222	468,061	364,565
Eplontersen Joint Development Revenue [Member]
Revenue:
Revenue	$ 76,787	$ 0	$ 0

IONS Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 276,472	$ 869,191
Short-term investments	1,710,397	1,245,782
Contracts receivable	25,538	61,896
Inventories	22,033	24,806
Other current assets	168,254	143,374
Total current assets	2,202,694	2,345,049
Property, plant and equipment, net	74,294	178,069
Right-of-use assets	181,544	17,974
Deposits and other assets	75,344	70,598
Total assets	2,533,876	2,611,690
Current liabilities:
Accounts payable	17,921	11,904
Accrued compensation	49,178	38,810
Accrued liabilities	140,101	88,560
Income taxes payable	6,249	36
Current portion of deferred contract revenue	90,577	97,714
Other current liabilities	7,535	3,526
Total current liabilities	311,561	240,550
Long-term deferred contract revenue	287,768	351,879
Long-term lease liabilities	178,941	19,432
Long-term mortgage debt	8,847	59,713
Long-term obligations	7,126	6,946
Total liabilities	1,960,989	1,839,953
Stockholders' equity:
Common stock, $0.001 par value; 300,000,000 shares authorized, 142,057,736 and 141,210,015 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively	142	141
Additional paid-in capital	2,059,850	1,964,167
Accumulated other comprehensive loss	(57,480)	(32,668)
Accumulated deficit	(1,429,625)	(1,159,903)
Total stockholders' equity	572,887	771,737
Total liabilities and stockholders' equity	2,533,876	2,611,690
0 Percent Convertible Senior Notes [Member]
Current liabilities:
Convertible senior notes, net	622,242	619,119
0.125 Percent Convertible Senior Notes [Member]
Current liabilities:
Convertible senior notes, net	$ 544,504	$ 542,314