Ionis Pharmaceuticals (NASDAQ:IONS) Announces Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Ionis Pharmaceuticals (NASDAQ:IONS) released its earnings results on Wednesday. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.18), FiscalAI reports. The firm had revenue of $203.00 million for the quarter, compared to the consensus estimate of $156.07 million. Ionis Pharmaceuticals had a negative return on equity of 66.25% and a negative net margin of 40.36%.The company’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.66) EPS.

Here are the key takeaways from Ionis Pharmaceuticals’ conference call:

• Ionis reported strong commercial momentum with TRYNGOLZA generating $108M in 2025 (Q4 $50M) and DAWNZERA showing early adoption and a free-trial program with 100% conversion to paid therapy.
• Olezarsen delivered pivotal Phase 3 results (up to 72% placebo‑adjusted TG reductions and an 85% reduction in adjudicated acute pancreatitis), has an sNDA submitted with breakthrough designation, and the company says it is launch-ready pending regulatory acceptance.
• Financially, Ionis grew revenue 34% to $944M in 2025 (commercial $436M), provided 2026 revenue guidance of $800–$825M on a like‑for‑like basis, expects year‑end cash/investments of ~ $1.6B, and remains on track for cash‑flow breakeven by 2028.
• The partnered pipeline is catalyst‑rich: GSK’s Bepirovirsen reported positive Phase 3 HBV results and Novartis’s Pelacarsen (HORIZON) and other partner Phase 3 readouts are expected mid‑year and into H2 2026, which could drive future royalties and milestones.
• Guidance conservatively assumes a standard FDA review for Olezarsen (not priority), expects TRYNGOLZA revenues to decline ahead of the broader sHTG launch, and notes ongoing payer/pricing and competitive dynamics that could pressure near‑term revenue and access.

Ionis Pharmaceuticals Stock Down 0.4%

Ionis Pharmaceuticals stock opened at $80.60 on Friday. Ionis Pharmaceuticals has a 52 week low of $23.95 and a 52 week high of $86.74. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of -33.03 and a beta of 0.29. The company’s 50-day moving average price is $81.30 and its two-hundred day moving average price is $71.63. The company has a current ratio of 2.79, a quick ratio of 2.78 and a debt-to-equity ratio of 0.96.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP C Frank Bennett sold 85,089 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $82.93, for a total value of $7,056,430.77. Following the completion of the sale, the executive vice president directly owned 80,293 shares in the company, valued at $6,658,698.49. This represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett P. Monia sold 62,970 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $82.72, for a total value of $5,208,878.40. Following the completion of the sale, the chief executive officer directly owned 283,927 shares in the company, valued at $23,486,441.44. This represents a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 464,579 shares of company stock valued at $37,630,193. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP boosted its holdings in Ionis Pharmaceuticals by 7,219.3% during the third quarter. Marshall Wace LLP now owns 958,829 shares of the company’s stock worth $62,727,000 after buying an additional 945,729 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $41,223,000. Vestal Point Capital LP boosted its stake in shares of Ionis Pharmaceuticals by 115.0% during the 3rd quarter. Vestal Point Capital LP now owns 1,075,000 shares of the company’s stock worth $70,326,000 after acquiring an additional 575,000 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Ionis Pharmaceuticals by 598.2% in the 4th quarter. First Trust Advisors LP now owns 525,239 shares of the company’s stock worth $41,552,000 after acquiring an additional 450,015 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Ionis Pharmaceuticals by 45.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,154,166 shares of the company’s stock worth $75,506,000 after acquiring an additional 363,094 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IONS. Wells Fargo & Company raised their price objective on Ionis Pharmaceuticals from $82.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Raymond James Financial restated a “strong-buy” rating and issued a $89.00 price target (up from $85.00) on shares of Ionis Pharmaceuticals in a research report on Thursday, October 30th. Piper Sandler increased their price objective on shares of Ionis Pharmaceuticals from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. HC Wainwright lifted their target price on Ionis Pharmaceuticals from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.15.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.