
Ionis Pharma (IONS) Stock Forecast & Price Target
Ionis Pharma (IONS) Analyst Ratings
Bulls say
Ionis Pharmaceuticals demonstrated significant financial strength with an increase in cash and equivalents, reaching $2.67 billion at the end of 4Q25, up from $2.24 billion in 3Q25, highlighting robust liquidity. The company reported impressive quarter-over-quarter revenue growth of 56% from the FCS launch, attributed to strong demand, while also surpassing revenue expectations for its drugs Wainua and olezarsen, indicating a positive trajectory for its product pipeline. Furthermore, Ionis raised its peak sales estimate for Tryngolza to $4.5 billion by 2036, reflecting optimism about future growth and the potential impact of upcoming clinical data releases in 2026.
Bears say
Ionis Pharmaceuticals is projecting a decline in revenues throughout 2026, primarily due to pricing adjustments for its Tryngolza treatment as it anticipates transitioning from rare disease pricing to a more competitive structure for a broader indication. The company continues to report significant operating losses, with a projected non-GAAP operating loss of $500-550 million, which is worse than market consensus estimates. Additionally, the anticipated revenue range of $800-825 million for 2026 falls short of investor expectations, signaling ongoing financial challenges and uncertainties around market uptake and product approval timelines.
This aggregate rating is based on analysts' research of Ionis Pharma and is not a guaranteed prediction by Public.com or investment advice.
Ionis Pharma (IONS) Analyst Forecast & Price Prediction
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