Ionis Pharmaceuticals's quarterly market cap
increased
from Sep. 2025 ($10,542 Mil) to Dec. 2025 ($12,919 Mil) but then
declined
from Dec. 2025 ($12,919 Mil) to Mar. 2026 ($12,458 Mil).
Ionis Pharmaceuticals's annual market cap
declined
from Dec. 2023 ($7,302 Mil) to Dec. 2024 ($5,520 Mil) but then
increased
from Dec. 2024 ($5,520 Mil) to Dec. 2025 ($12,919 Mil).
Enterprise Value is the theoretical takeover price. It is more comprehensive than market capitalization (market cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents. Ionis Pharmaceuticals's Enterprise Value for Today is $13,640 Mil.
Ionis Pharmaceuticals (NAS:IONS) Market Cap Explanation
Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the companys debt. The real price you pay is the Enterprise Value.
Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Biotechnology subindustry, Ionis Pharmaceuticals's Market Cap, along with its competitors' market caps and Market Cap data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ionis Pharmaceuticals Market Cap vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Ionis Pharmaceuticals's Market Cap distribution charts can be found below:
* The bar in red indicates where Ionis Pharmaceuticals's Market Cap falls into.
Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.
Ionis Pharmaceuticals's Market Cap for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Ionis Pharmaceuticals (IONS) has a Market Cap of $13,518 Mil as of Jul. 03, 2026. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on Ionis Pharmaceuticals and its competitors. According to the industry distribution chart, Ionis Pharmaceuticals ranks #25 out of 1426 companies in the Biotechnology industry, placing it in the top 1.8%.
Is Ionis Pharmaceuticals' Market Cap too high?
Ionis Pharmaceuticals' current Market Cap is $13,518 Mil. The Biotechnology industry median Market Cap is 119.23. Ionis Pharmaceuticals' value of $13,518 Mil is 11238% above this industry median. Based on the distribution chart, Ionis Pharmaceuticals ranks #25 out of 1426 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Ionis Pharmaceuticals has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ionis Pharmaceuticals' Market Cap compare to EXEL and BBIO?
According to the Biotechnology industry distribution chart, Ionis Pharmaceuticals ranks #25 out of 1426 companies for Market Cap. This places Ionis Pharmaceuticals in the top 2% of its industry — outperforming the majority of peers. The industry median Market Cap is 119.23. Ionis Pharmaceuticals' value of $13,518 Mil is 11238% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Market Cap for a Biotechnology company?
The median Market Cap among Biotechnology companies is 119.23, based on 1,426 companies in the industry. Companies in the top quartile (top 25%) have a Market Cap significantly above this median, while those in the bottom quartile fall well below. However, Market Cap should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ionis Pharmaceuticals's current Market Cap of $13,518 Mil is 11238% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Market Cap mean?
A high Market Cap can signal that a stock is expensive relative to its fundamentals. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on Ionis Pharmaceuticals and its competitors. For the Biotechnology industry, the median Market Cap is 119.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ionis Pharmaceuticals's current Market Cap is $13,518 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ionis Pharmaceuticals stock overvalued right now?
Based on GuruFocus' analysis, Ionis Pharmaceuticals (IONS) is currently considered Significantly Overvalued. The stock's GF Value™ is $53.93, compared to a current price of $81.80 — trading 51.7% above its estimated fair value. The current Market Cap is $13,518 Mil and 11238% above the Biotechnology industry median of 119.23. Ionis Pharmaceuticals' overall GF Score™ is 67/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Market Cap calculated?
Market Cap is calculated from a company's financial statements. For Ionis Pharmaceuticals (IONS), the current Market Cap is $13,518 Mil as of Jul. 03, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ionis Pharmaceuticals (IONS) Overvalued in 2026?
Based on GuruFocus' analysis, Ionis Pharmaceuticals stock appears to be overvalued.
The current stock price of $81.80 is trading 51.7% above its estimated GF Value™ of $53.93.
GuruFocus considers Ionis Pharmaceuticals to be Significantly Overvalued.
Key valuation signals for IONS:
Market Cap: $13,518 Mil
GF Value™: $53.93 vs. price of $81.80 (51.7% above fair value)
Industry Position: 11238% above the Biotechnology median (#25 of 1426)
No single metric tells the full story. See the IONS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ionis Pharmaceuticals is the leading developer of antisense technology to discover and develop novel drugs. Its broad clinical and preclinical pipeline targets a wide variety of diseases, with an emphasis on cardiovascular, metabolic, neurological, and rare diseases. Ionis and Biogen brought Spinraza to market in 2016 as a treatment for spinal muscular atrophy, and Biogen launched ALS drug Qalsody in 2023. Ionis brought two additional drugs to market via its cardiovascular-focused subsidiary Akcea, including ATTR amyloidosis drug Tegsedi (2018) and cardiology drug Waylivra (Europe, 2019). Ionis and AstraZeneca launched polyneuropathy drug Wainua in 2024. Ionis marked its first two independent launches in 2025 for Tryngolza (for FCS) and Dawnzera (for HAE).
67GF Score
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