Ionis Pharmaceuticals is the leading developer of antisense technology to discover and develop novel drugs. Its broad clinical and preclinical pipeline targets a wide variety of diseases, with an emphasis on cardiovascular, metabolic, neurological, and rare diseases. Ionis and Biogen brought Spinraza to market in 2016 as a treatment for spinal muscular atrophy, and Biogen launched ALS drug Qalsody in 2023. Ionis brought two additional drugs to market via its cardiovascular-focused subsidiary Akcea, including ATTR amyloidosis drug Tegsedi (2018) and cardiology drug Waylivra (Europe, 2019). Ionis and AstraZeneca launched polyneuropathy drug Wainua in 2024. Ionis marked its first two independent launches in 2025 for Tryngolza (for FCS) and Dawnzera (for HAE).
The chart shows the growth of an initial investment of $10,000 in Ionis Pharmaceuticals, Inc. Common Stock, comparing it to the performance of the S&P 500 index. All prices have been adjusted for splits and dividends.
Returns By Period
Ionis Pharmaceuticals, Inc. Common Stock (IONS) has returned -6.37% so far this year and 180.74% over the past 12 months. Looking at the last ten years, IONS has achieved an annualized return of 6.17%, underperforming the Benchmark (SPY), which averaged 12.23% per year.
IONS
1M-4.31%
6M8.16%
YTD-6.37%
1Y180.74%
5Y12.22%
10Y6.17%
Benchmark (SPY)
1M-3.85%
6M-2.35%
YTD-4.36%
1Y34.06%
5Y9.80%
10Y12.23%
Monthly Returns
The table below presents the monthly returns of Ionis Pharmaceuticals, Inc. Common Stock (IONS) with color gradation from worst to best to easily spot seasonal factors.
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2026
3.49%
-1.68%
-5.27%
-1.20%
2025
-9.71%
6.24%
-9.28%
1.79%
7.85%
16.76%
6.78%
-0.04%
33.13%
13.70%
10.65%
-3.56%
2024
-0.04%
-12.57%
-4.01%
-4.73%
-9.01%
24.86%
3.53%
-4.41%
-15.66%
-4.02%
-7.44%
-2.83%
2023
5.06%
-9.43%
-0.45%
-0.62%
15.93%
-0.70%
0.70%
-3.15%
12.00%
-2.12%
11.03%
2.58%
2022
3.48%
9.16%
13.27%
-0.14%
-0.25%
0.90%
0.83%
13.39%
4.29%
-0.87%
-8.34%
-7.11%
2021
5.63%
-14.10%
-15.90%
-5.27%
-13.37%
6.97%
-7.17%
6.80%
-16.21%
-4.73%
-16.67%
12.58%
2020
-4.22%
-13.49%
-7.29%
21.88%
2.80%
5.57%
-2.23%
-5.63%
-13.15%
-1.55%
6.36%
11.85%
2019
9.17%
22.19%
13.57%
-9.24%
-11.79%
-2.65%
0.78%
-4.52%
-4.86%
-7.10%
14.42%
-5.61%
2018
4.87%
0.65%
-16.74%
-2.20%
8.82%
-11.40%
6.28%
5.69%
13.59%
-4.60%
17.31%
-8.14%
2017
-7.33%
9.63%
-18.82%
18.61%
-5.16%
8.30%
2.72%
1.34%
-4.88%
12.35%
-3.19%
-8.86%
2016
1.34%
-44.47%
3.19%
25.23%
-20.21%
23.28%
-29.04%
66.70%
10.41%
Performance Indicators
The charts below present risk-adjusted performance metrics for Ionis Pharmaceuticals, Inc. Common Stock (IONS) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
Sharpe ratio
Sortino ratio
Omega ratio
Calmar ratio
Martin ratio
sharpe ratio
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of IONS compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
Volatility Chart
The current Ionis Pharmaceuticals, Inc. Common Stock volatility is 2.17%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses. Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
Income Statement
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period. It shows how much money the company earned (revenues) and how much it spent (expenses), leading to the net income or profit. This statement is crucial for understanding a company's financial performance and profitability.
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Liabilities And Equity (USD)
3.52B
3.00B
2.99B
2.53B
2.61B
2.39B
3.23B
2.67B
1.32B
912.47M
956.11M
Equity Attributable To Parent (USD)
489.09M
600.00M
386.69M
572.89M
771.74M
843.35M
1.47B
1.05B
330.87M
99.57M
200.79M
Equity Attributable To Noncontrolling Interest (USD)
Ionis Pharmaceuticals announced a significant price reduction for its triglyceride-lowering drug Tryngolza (olezarsen) from $595,000 to $40,000 annually, effective April 1. The repricing positions the therapy competitively ahead of an expected FDA decision on label expansion into severe hypertriglyceridemia (sHTG) by June 30. Analysts view the move positively as it aligns with payer contracting cycles and could drive substantial revenue upside, with peak sales projections potentially exceeding $2 billion.
Benzinga•Vandana Singh
AI Insight
The company's strategic price reduction demonstrates proactive market positioning ahead of a potentially larger FDA-approved indication. Analysts maintain Outperform ratings, citing strong clinical data, competitive pricing alignment, and blockbuster revenue potential exceeding $2 billion in peak sales. The stock was up 3.74% at publication.
The article examines insider selling at Waste Management and Ionis Pharmaceuticals, arguing that profit-taking by insiders at these stocks presents buying opportunities. Waste Management benefits from institutional accumulation, strong dividend growth prospects, and analyst support despite insider sales. Ionis Pharmaceuticals faces heavier selling pressure but analysts project 25% upside driven by commercial growth of its drug Olezarsen and a bullish long-term earnings outlook.
Investing.com•Thomas Hughes
AI Insight
Despite heavy insider and institutional selling, analysts maintain Moderate Buy rating with 25% upside forecast. Key driver is Olezarsen commercial ramp with peak sales projected at $2B. Company forecast to sustain 20% growth through next decade, achieve profitability in 2028, and potentially double in value based on 2035 earnings multiples.
Boone Capital Management liquidated its entire $13.57 million stake in Cogent Biosciences (945,042 shares) in Q4 2026, despite the stock surging 372% over the past year. The fund reallocated capital to earlier-stage biotech opportunities like TYRA, which has gained 40% in 2026, suggesting a strategic shift toward higher-risk, higher-upside clinical-stage investments.
The Motley Fool•Jonathan Ponciano
AI Insight
Listed as a top holding (10.4% of AUM, $33.05M) in the fund's portfolio, representing a significant established position.
The global ALS therapeutics market is valued at USD 812 million in 2024 and is projected to reach USD 1,964 million by 2035, growing at an 11.5% CAGR. Growth is driven by innovations in genetic therapies, gene-silencing technologies, improved diagnostics, and increased disease awareness. Key players include Biogen, Ionis Pharmaceuticals, Amylyx Pharmaceuticals, and others developing disease-modifying treatments.
GlobeNewswire Inc.•Custom Market Insights
AI Insight
Highlighted as a major player developing antisense oligonucleotide therapies, a key growth segment in the expanding ALS market
The global amyloidosis therapeutics market is experiencing strong growth, valued at $2.95 billion in 2024 and expected to reach $6.37 billion by 2033 with a 9.20% CAGR. Growth is driven by accelerating ATTR cardiomyopathy diagnosis through imaging technologies, rapid uptake of disease-modifying therapies in North America, and expanded reimbursement in emerging markets like China and Brazil. Five core compounds dominate the market, with chemotherapy remaining the cost-effective backbone for AL amyloidosis treatment.
GlobeNewswire Inc.•Astute Analytica
AI Insight
Maintaining presence with inotersen serving 5,800 patients, but limited market share compared to leading competitors in the growing amyloidosis therapeutics market.
GSK and Ionis Pharmaceuticals announced positive Phase 3 trial results for bepirovirsen, an investigational antisense oligonucleotide for chronic hepatitis B. The B-Well 1 and B-Well 2 studies, involving over 1,800 patients, met their primary endpoint with statistically significant functional cure rates. If approved, bepirovirsen could become the first finite, six-month therapeutic option for CHB. Regulatory submissions are planned for Q1 2026.
Benzinga•Vandana Singh
AI Insight
Ionis' investigational drug demonstrated strong efficacy data, positioning the company for potential regulatory milestone payments and royalties. The success is part of five expected Phase 3 readouts in 2026, supporting analyst confidence in the pipeline.
Biogen has acquired Alcyone Therapeutics, a clinical-stage biotechnology company, to enhance its CNS therapy delivery solutions through the ThecaFlex DRx™ drug delivery system, which aims to provide an alternative to repeat lumbar punctures for neurologic disorder treatments.
Benzinga•Globe Newswire
AI Insight
Mentioned as the original licensor of SPINRAZA, with no direct impact from this acquisition
Ionis Pharmaceuticals reported positive results from a clinical trial of zilganersen for Alexander disease, showing statistically significant stabilization of gait speed and the first evidence of disease modification in this rare neurological condition.
Benzinga•Vandana Singh
AI Insight
Demonstrated unprecedented positive results in clinical trial, showing first disease-modifying impact for Alexander disease, with plans to submit new drug application in Q1 2026
Antisense oligonucleotide (ASO) therapeutics are emerging as a promising treatment approach for rare genetic and neuromuscular disorders, with over 70 pharmaceutical companies actively developing 90+ pipeline therapeutics targeting specific genetic mechanisms.
GlobeNewswire Inc.•Delveinsight
AI Insight
Partnering with major pharmaceutical companies and advancing multiple ASO therapeutics in various clinical trial stages
The FDA approved Ionis Pharmaceuticals' Dawnzera, the first RNA-targeted medicine for preventing hereditary angioedema (HAE) attacks in patients 12 and older, demonstrating significant attack rate reduction in clinical trials.
Benzinga•Vandana Singh
AI Insight
Received FDA approval for innovative first-of-its-kind RNA-targeted therapy, with strong clinical trial results showing 81-87% attack rate reduction
