Is IONIS PHARMACEUTICALS INC financially healthy?

IONIS PHARMACEUTICALS INC scores 4 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the distress zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of IONIS PHARMACEUTICALS INC?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are FMR LLC (adding), Capital World Investors (adding), BlackRock, Inc. (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

IONIS PHARMACEUTICALS INC (IONS)

Nasdaq · Common Stock · Pharmaceutical Preparations

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

4 / 8

FAILReturn on assets positiveROA -10.8%
FAILOperating cash flow positiveOCF -269M
PASSReturn on assets improving-15.1% → -10.8%
PASSCash flow exceeds earningsOCF -269M vs NI -381M
PASSLong-term debt ratio falling40.0% → 37.7% of assets
FAILCurrent ratio improving8.47 → 3.83
FAILNo share dilution150M → 160M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.23× → 0.27×

Altman Z-score

1.11distress

Bankruptcy-risk screen combining working capital, retained earnings, operating income, market value against liabilities, and asset turnover. Above 2.99 is the safe zone; below 1.81 is distress.

Cash conversion: 70.4%
Share count change: 7.0%

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$729.3M	−$451.3M	$772,000	—	139,612,000
FY2021	$810.5M	−$28.6M	$18.8M	—	141,021,000
FY2022	$587.4M	−$269.7M	−$290.1M	—	141,848,000
FY2023	$787.6M	−$366.3M	−$331.3M	—	143,190,000
FY2024	$705.1M	−$453.9M	−$546.2M	—	149,514,000

Ownership flow

16 institutions tracked — 10 added, 5 reduced, 1 opened a new position.

Institutional holders of IONIS PHARMACEUTICALS INC and their share-count change
Manager	Kind	Shares	Change	Value
WELLINGTON MANAGEMENT GROUP LLP	Active fund	7,651,415	+1,259,599	$606.7M
Capital World Investors	Active fund	21,669,226	+482,857	$1.7B
CITADEL ADVISORS LLC	Hedge fund	855,284	−450,850	$67.8M
GEODE CAPITAL MANAGEMENT, LLC	Index	3,584,024	−400,308

Identity

CIK: 0000874015
LEI: 549300SI4ZGLG0BLUZ92
FIGI: BBG000JH6683
SIC: 2834 · Pharmaceutical Preparations
Incorporated: CA
Headquarters: CARLSBAD, CA

Ownership

Institutional: 110.5%
Institutions: 719
Insiders: 0.6%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other pharmaceutical preparations companies

IONIS PHARMACEUTICALS INC files under SIC 2834 — all 50 pharmaceutical preparations companies compared on assets and F-score.

PFIZER INCPFE JOHNSON & JOHNSONJNJ Merck & Co., Inc.MRK AbbVie Inc.ABBV ELI LILLY & CoLLY BRISTOL MYERS SQUIBB COBMY

Questions about IONIS PHARMACEUTICALS INC

Is IONIS PHARMACEUTICALS INC financially healthy?: IONIS PHARMACEUTICALS INC scores 4 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the distress zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of IONIS PHARMACEUTICALS INC?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are FMR LLC (adding), Capital World Investors (adding), BlackRock, Inc. (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.