Ionis Pharma (IONS) Stock Forecast & Price Target

Ionis Pharmaceuticals has raised its financial guidance for 2025, projecting total revenue between $875 million and $900 million, up from the previous estimate of $825 million to $850 million. This adjustment reflects strong product performance, particularly the impressive uptake of Tryngolza, which generated $32 million in revenue during the third quarter of 2025, exceeding consensus expectations. The company's diversified pipeline, including ongoing regulatory advancements and positive clinical trial results, underscores its potential for continued growth across multiple therapeutic areas, enhancing its overall financial outlook.

Ionis Pharmaceuticals has recorded significant losses and is not expected to achieve profitability for several years, raising concerns about its financial sustainability. As of the end of Q3 2025, the company's cash and equivalents decreased to $2.24 billion, indicating a dwindling financial buffer. Furthermore, there are multiple risks, including potential erosion of Spinraza's market share, slower-than-anticipated uptake of new therapies, and delays in securing regulatory approvals for key late-stage candidates, all of which could adversely affect the company's financial performance and outlook.