IONS
Ionis Pharmaceuticals Inc. Healthcare - Biotechnology Investor Relations →
Ionis Pharmaceuticals Inc. (IONS) closed at $86.50 as of 2026-02-02, trading 94.6% above its 200-week moving average of $44.45. The stock moved further from the line this week, up from 87.0% last week. The 14-week RSI sits at 69, indicating neutral momentum.
Over the past 1764 weeks of data, IONS has crossed below its 200-week moving average 26 times. On average, these episodes lasted 36 weeks. Historically, investors who bought IONS at the start of these episodes saw an average one-year return of +11.5%.
With a market cap of $14.0 billion, IONS is a large-cap stock. Free cash flow yield is currently negative, meaning the company is burning cash. Return on equity stands at -40.0%. The stock trades at 22.6x book value.
Share count has increased 11.8% over three years, indicating dilution.
Over the past 33.2 years, a hypothetical investment of $100 in IONS would have grown to $1214, compared to $2849 for the S&P 500. IONS has returned 7.8% annualized vs 10.6% for the index, underperforming the broader market over this period.
Free cash flow has been declining at a -100% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Growth of $100: IONS vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After IONS Crosses Below the Line?
Across 26 historical episodes, buying IONS when it crossed below its 200-week moving average produced an average return of +17.0% after 12 months (median -1.0%), compared to +9.0% for the S&P 500 over the same periods. 42% of those episodes were profitable after one year. After 24 months, the average return was +36.6% vs +13.0% for the index.
Each line shows $100 invested at the moment IONS crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
IONS has crossed below its 200-week MA 26 times with an average 1-year return of +11.5% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Apr 1992 | May 1995 | 160 | 61.6% | -36.5% | +835.1% |
| Jun 1998 | Jul 1998 | 4 | 5.5% | -24.3% | +585.1% |
| Jul 1998 | Jan 1999 | 23 | 33.8% | -13.5% | +620.8% |
| Jan 1999 | Nov 1999 | 42 | 32.3% | -43.7% | +523.4% |
| Dec 1999 | Feb 2000 | 11 | 62.0% | +61.7% | +1372.3% |
| Apr 2000 | Jun 2000 | 11 | 33.6% | -14.8% | +723.8% |
| Jul 2000 | Jun 2001 | 50 | 31.0% | -7.6% | +571.8% |
| Jul 2001 | Jul 2001 | 1 | 1.6% | -40.3% | +626.9% |
| Jul 2001 | Aug 2001 | 3 | 15.8% | -32.6% | +623.8% |
| Apr 2002 | Feb 2006 | 198 | 74.8% | -61.9% | +612.5% |
| Jul 2006 | Jul 2006 | 3 | 2.4% | +73.6% | +1391.4% |
| Nov 2009 | Jun 2012 | 134 | 46.2% | -13.7% | +670.3% |
| Oct 2012 | Dec 2012 | 11 | 20.6% | +249.5% | +825.1% |
| Feb 2016 | Feb 2016 | 4 | 8.7% | +31.2% | +144.4% |
| May 2016 | Nov 2016 | 27 | 43.5% | +40.3% | +154.3% |
| Mar 2017 | Apr 2017 | 6 | 10.6% | +26.6% | +106.7% |
| May 2017 | May 2017 | 1 | 1.0% | +2.5% | +98.6% |
| Mar 2018 | Aug 2018 | 19 | 14.4% | +84.1% | +96.2% |
| Aug 2018 | Sep 2018 | 3 | 8.8% | +38.3% | +89.3% |
| Oct 2018 | Oct 2018 | 3 | 6.8% | +39.4% | +92.2% |
| Feb 2020 | Apr 2020 | 6 | 14.7% | +3.2% | +70.3% |
| Aug 2020 | Dec 2020 | 19 | 16.2% | -24.8% | +63.9% |
| Feb 2021 | Sep 2023 | 135 | 49.7% | -39.4% | +65.1% |
| Mar 2024 | Mar 2024 | 2 | 1.1% | -22.5% | +103.3% |
| Apr 2024 | Jun 2024 | 10 | 11.6% | -33.2% | +107.2% |
| Sep 2024 | Jun 2025 | 39 | 31.5% | +56.9% | +111.8% |
| Average | 36 | — | +11.5% | — |
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of Friday close, 2026-02-02