IONS Ionis Pharmaceuticals, Inc.

bullish · high conviction track record → $74.87 -0.84 (-1.1%)
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Mkt Cap $12B 52wk $27.57 - $86.74 Earnings 2026-04-29 44d ago
Insider selling: $163,133,938 sold by 19 insiders (30d)
Factor divergence: DIVERGENCE: options_sentiment bullish vs estimate_revisions, analyst_revisions, narrative_gap bearis
Est. revisions: -30.3%
Backed by structured data (insider trades, analyst ratings, or filings)
Factor Model (net -3.0)

Factor Model

net -3.0 5.8 / 10
Est. Revisions
-1.0
Insider Activity
+0.0
Momentum
+0.0
Analyst Rev.
-1.0
Narrative Gap
-0.5

Three drug launches in 2026 kick off triglyceride expansion

Watch: The June 30 PDUFA decision for olezarsen is the near-term catalyst—a binary that could unlock peak sales ramp and validate the $2 billion market thesis. Watch the Q3 2026 earnings call for olezarsen launch uptake and revised revenue guidance; that readout will determine whether this pivot is execution-driven or optimistic.

Ionis Pharmaceuticals is accelerating from a single commercial product into a multi-product company. TRYNGOLZA, already on the market, generated $108 million in first-year revenue with 56% quarter-over-quarter growth—a strong baseline for confidence. The company's flagship olezarsen received FDA priority review acceptance with a June 30, 2026 PDUFA date, positioning launch for late June or early July. Ionis has assembled a 200-rep U.S. sales force and locked in commercial supply. Beyond olezarsen, the company expects approvals for zilganersen (Alexander disease) and bepirovirsen (hepatitis B via GSK partnership), plus multiple late-stage readouts—effectively transforming its pipeline visibility from concept to execution in a single year.

This is a pivot from biotech volatility to near-term revenue inflection. The TRYNGOLZA traction ($108M in year one) proves market demand for triglyceride-lowering therapies exists and scales fast. Olezarsen targets severe hypertriglyceridemia, a subset of the same patient population—essentially letting Ionis double its addressable market with a single indication. The company's raised peak sales guidance to over $2 billion for the combined FCS/sHTG opportunity isn't just optimism; it's grounded in live commercial execution and a 200-rep launch team. Three approvals in one year moves Ionis from single-product risk to portfolio diversification.

Evidence

7d ago Insider sell by HOUGEN ELIZABETH L (IONS): $16,313,676
7d ago Insider sell by MONIA BRETT P (IONS): $12,114,155
7d ago Insider sell by MONIA BRETT P (IONS): $12,294,703
32d ago Why Ionis Pharmaceuticals’ (IONS) 2026 Catalyst Pipeline Supported Leerink’s Higher Target yahoo-finance
46d ago Ionis Pharmaceuticals CEO Teases Late-June Olezarsen Launch After FDA Priority Review Acceptance yahoo-finance
51d ago Ionis Pharmaceuticals CEO Teases Late-June Olezarsen Launch After FDA Priority Review Acceptance yahoo-finance
53d ago Ionis Pharmaceuticals Q4 Earnings Call Highlights yahoo-finance
Fundamentals & Data ▾
Ionis Pharmaceuticals, Inc. Healthcare · Biotechnology
Mkt Cap
$12B
Beta
0.40
52w Range
$27.57 - $86.74
Short Interest
13.9M 11.08%
Days to Cover
6.2 -10%
Technicals downtrend
from 52w Hi
-2.5%
1w return
-0.1%
Insiders
selling 0B / 13S
EPS Estimate
$-0.78 -30.3% 30d 0up / 2dn
Est. Dispersion
69% 6 analysts
Analyst Target
$97 $47 - $120
Options P/C
23.23
Insider Cluster
strong sell 0B / 13S
Fund Convergence
strong D.E. Shaw, Two Sigma, Citadel, Renaissance, Bridgewater
Financials
Revenue
$203M -10% YoY
FCF
$-160M
Gross Margin
96%
Op Margin
-106%
Momentum: accelerating
Top Holders
D.E. Shaw $525M
Two Sigma $241M
Citadel $183M
Renaissance $18M
Bridgewater $5M
Recent Filings & Data
insider trade 156
net selling · $163,133,938 sold
19 insiders · 156 transactions (30d)
Recent transactions
DEVERS SHANNON L · sell · $458,613
KLEIN JOSEPH S III · sell · $1,686,302
KLEIN JOSEPH S III · exercise · $880,707
SCHNEIDER EUGENE · sell · $412,486
HOUGEN ELIZABETH L · sell · $16,313,676
HOUGEN ELIZABETH L · exercise · $8,989,092
MONIA BRETT P · sell · $12,114,155
MONIA BRETT P · exercise · $9,039,364
JENNE KYLE · sell · $2,827,325
JENNE KYLE · exercise · $1,665,128
O'NEIL PATRICK R · sell · $763,662
LOSCALZO JOSEPH · sell · $82,833
LOSCALZO JOSEPH · exercise · $39,278
BAROLDI JOSEPH · sell · $530,987
BAROLDI JOSEPH · exercise · $95,281
DEVERS SHANNON L · sell · $1,596,433
DEVERS SHANNON L · exercise · $723,254
KLEIN JOSEPH S III · sell · $1,696,181
KLEIN JOSEPH S III · exercise · $652,120
BENNETT C FRANK · sell · $6,741,669
BENNETT C FRANK · exercise · $3,497,531
DIAZ ALLENE M. · sell · $4,354,428
DIAZ ALLENE M. · exercise · $1,601,607
SWAYZE ERIC E · sell · $1,278,914
PARSHALL B LYNNE · sell · $413,588
MONIA BRETT P · sell · $2,524,820
BENNETT C FRANK · sell · $7,056,216
SCHNEIDER EUGENE · sell · $515,630
BIRCHLER BRIAN · sell · $513,048
MONIA BRETT P · sell · $5,208,979
BENNETT C FRANK · sell · $488,141
HOUGEN ELIZABETH L · sell · $581,702
O'NEIL PATRICK R · sell · $516,153
SWAYZE ERIC E · sell · $512,446
BAROLDI JOSEPH · sell · $439,364
SCHNEIDER EUGENE · award
BIRCHLER BRIAN · award
MONIA BRETT P · award
BENNETT C FRANK · award
HOUGEN ELIZABETH L · award
O'NEIL PATRICK R · award
SWAYZE ERIC E · award
BAROLDI JOSEPH · award
DEVERS SHANNON L · sell · $323,490
SCHNEIDER EUGENE · sell · $703,138
BIRCHLER BRIAN · sell · $636,933
DEVERS SHANNON L · sell · $634,410
KORDASIEWICZ HOLLY B · sell · $313,308
MONIA BRETT P · sell · $3,294,624
BENNETT C FRANK · sell · $674,622
HOUGEN ELIZABETH L · sell · $971,993
O'NEIL PATRICK R · sell · $697,045
JENNE KYLE · sell · $138,475
SWAYZE ERIC E · sell · $748,383
BAROLDI JOSEPH · sell · $610,276
SCHNEIDER EUGENE · other
BIRCHLER BRIAN · other
DEVERS SHANNON L · other
KORDASIEWICZ HOLLY B · other
MONIA BRETT P · other
YANG MICHAEL J. · other
BENNETT C FRANK · other
HOUGEN ELIZABETH L · other
O'NEIL PATRICK R · other
JENNE KYLE · other
SWAYZE ERIC E · other
BAROLDI JOSEPH · other
DEVERS SHANNON L · sell · $3,760,577
DEVERS SHANNON L · exercise · $2,265,415
SWAYZE ERIC E · sell · $1,856,325
SWAYZE ERIC E · exercise · $1,428,662
WENDER JOSEPH H. · sell · $2,262,848
DEVERS SHANNON L · sell · $1,357,442
DEVERS SHANNON L · exercise · $902,099
KLEIN JOSEPH S III · sell · $960,000
KLEIN JOSEPH S III · other
HERMAN JOAN E · sell · $3,173,830
HERMAN JOAN E · exercise · $2,525,400
WENDER JOSEPH H. · exercise · $390,720
BIRCHLER BRIAN · sell · $609,379
GEARY RICHARD S · sell · $2,621,816
GEARY RICHARD S · exercise · $2,045,308
GEARY RICHARD S · sell · $6,829,431
GEARY RICHARD S · exercise · $4,172,678
LOSCALZO JOSEPH · sell · $1,201,669
LOSCALZO JOSEPH · exercise · $835,520
WENDER JOSEPH H. · sell · $2,072,578
DEVERS SHANNON L · sell · $530,638
SWAYZE ERIC E · sell · $3,902
BIRCHLER BRIAN · sell · $1,723,987
BIRCHLER BRIAN · exercise · $1,285,103
DEVERS SHANNON L · exercise · $291,060
SWAYZE ERIC E · other
PARSHALL B LYNNE · sell · $358,722
MONIA BRETT P · sell · $30,268
O'NEIL PATRICK R · sell · $937,338
O'NEIL PATRICK R · exercise · $539,274
SWAYZE ERIC E · sell · $472,718
BAROLDI JOSEPH · sell · $112,725
O'NEIL PATRICK R · sell · $4,377,054
O'NEIL PATRICK R · exercise · $3,813,257
SWAYZE ERIC E · sell · $1,793,744
SWAYZE ERIC E · exercise · $1,457,920
BAROLDI JOSEPH · sell · $1,020,210
BAROLDI JOSEPH · exercise · $477,000
WENDER JOSEPH H. · sell · $1,100,385
GEARY RICHARD S · exercise · $3,113,283
HOUGEN ELIZABETH L · sell · $3,249,734
HOUGEN ELIZABETH L · exercise · $2,677,746
GEARY RICHARD S · sell · $3,777,668
O'NEIL PATRICK R · sell · $1,634,921
O'NEIL PATRICK R · exercise · $1,436,534
O'NEIL PATRICK R · sell · $109,787
O'NEIL PATRICK R · exercise · $96,526
O'NEIL PATRICK R · sell · $1,355,661
O'NEIL PATRICK R · exercise · $1,274,580
BAROLDI JOSEPH · sell · $742,838
BAROLDI JOSEPH · exercise · $380,010
BENNETT C FRANK · sell · $357,581
BAROLDI JOSEPH · sell · $15,500
BAROLDI JOSEPH · exercise · $7,950
SCHNEIDER EUGENE · sell · $1,195,421
SCHNEIDER EUGENE · exercise · $1,057,011
DEVERS SHANNON L · sell · $192,943
DEVERS SHANNON L · exercise · $114,207
MONIA BRETT P · sell · $12,294,703
MONIA BRETT P · exercise · $9,032,039
KLEIN JOSEPH S III · exercise · $1,312,720
KLEIN JOSEPH S III · sell · $1,680,000
KLEIN JOSEPH S III · exercise · $1,350,080
BENNETT C FRANK · sell · $3,094,060
BENNETT C FRANK · exercise · $2,516,436
LOSCALZO JOSEPH · sell · $962,371
LOSCALZO JOSEPH · exercise · $390,720
O'NEIL PATRICK R · sell · $5,396,843
O'NEIL PATRICK R · exercise · $4,054,726
BAROLDI JOSEPH · sell · $1,946,220
BAROLDI JOSEPH · exercise · $1,043,040
WENDER JOSEPH H. · sell · $1,612,155
GEARY RICHARD S · sell · $503,671
SWAYZE ERIC E · sell · $552,862
PARSHALL B LYNNE · sell · $1,018,298
DIAZ ALLENE M. · sell · $60,687
BENNETT C FRANK · sell · $439,776
BENNETT C FRANK · exercise · $326,000
PARSHALL B LYNNE · sell · $209,646
GEARY RICHARD S · sell · $428,593
SCHNEIDER EUGENE · sell · $408,701
MONIA BRETT P · sell · $109,440
BAROLDI JOSEPH · sell · $418,953
BIRCHLER BRIAN · sell · $73,016
JENNE KYLE · sell · $368,488
BAROLDI JOSEPH · other
BIRCHLER BRIAN · other
JENNE KYLE · other
PARSHALL B LYNNE · sell · $381,367
7 signals · latest 7d ago

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