Ionis PharmaceuticalsLTS:0JDI +2.08%66 PB Ratio is 27.13 as of Jun. 28, 2026, which is 159% above its 10-year median of 10.46. GuruFocus rates LTS:0JDI with a GF Score™ of 66/100 and a GF Value™ of $53.57 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,232 Biotechnology companies, Ionis Pharmaceuticals ranks worse than 94.72% on this metric.
Ionis Pharmaceuticals Inc stock PB Ratio (=27.41) is close to 5-year high of 28.88.
The historical rank and industry rank for Ionis Pharmaceuticals's PB Ratio or its related term are showing as below:
LTS:0JDI'
s PB Ratio Range Over the Past 10 Years
Min: 4.16 Med: 10.46 Max: 66.79
Current: 27.41
During the past 13 years, Ionis Pharmaceuticals's highest PB Ratio was 66.79. The lowest was 4.16. And the median was 10.46.
LTS:0JDI's PB Ratio is ranked worse than 94.72% of 1232
companies
in the Biotechnology industry
Industry Median: 2.8
vs LTS:0JDI: 27.41
During the past 12 months, Ionis Pharmaceuticals's average Book Value Per Share Growth Rate was -1.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -9.40% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -11.80% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 7.20% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Ionis Pharmaceuticals was 526.60% per year. The lowest was -75.70% per year. And the median was -2.50% per year.
Back to Basics: PB Ratio
Ionis Pharmaceuticals (LTS:0JDI) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
* 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Ionis Pharmaceuticals's PB Ratio distribution charts can be found below:
* The bar in red indicates where Ionis Pharmaceuticals's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Ionis Pharmaceuticals (LTS:0JDI) has a PB Ratio of 27.13 as of Jun. 28, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Ionis Pharmaceuticals and its competitors. This is 159% above median its historical median of 10.46. Over the past decade, Ionis Pharmaceuticals' PB Ratio has ranged from 4.16 to 66.79. According to the industry distribution chart, Ionis Pharmaceuticals ranks #1167 out of 1232 companies in the Biotechnology industry, placing it in the top 94.7%.
Is Ionis Pharmaceuticals' PB Ratio too high?
Ionis Pharmaceuticals' current PB Ratio of 27.13 is 159% above median its 10-year median of 10.46. Over the past 10 years, this metric has ranged from a low of 4.16 to a high of 66.79. The Biotechnology industry median PB Ratio is 2.80. Ionis Pharmaceuticals' value of 27.13 is 868.9% above this industry median. Based on the distribution chart, Ionis Pharmaceuticals ranks #1167 out of 1232 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Ionis Pharmaceuticals has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ionis Pharmaceuticals' PB Ratio compare to EXEL and BBIO?
According to the Biotechnology industry distribution chart, Ionis Pharmaceuticals ranks #1167 out of 1232 companies for PB Ratio. This places Ionis Pharmaceuticals in the lower half of its industry. The industry median PB Ratio is 2.80. Ionis Pharmaceuticals' value of 27.13 is 868.9% above this benchmark. Historically, Ionis Pharmaceuticals' own PB Ratio has ranged from 4.16 to 66.79 over the past decade. While the company's 10-year median is 10.46 vs. the industry median of 2.80, Ionis Pharmaceuticals has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Biotechnology company?
The median PB Ratio among Biotechnology companies is 2.80, based on 1,232 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ionis Pharmaceuticals's current PB Ratio of 27.13 is 868.9% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Ionis Pharmaceuticals and its competitors. For the Biotechnology industry, the median PB Ratio is 2.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ionis Pharmaceuticals's current PB Ratio is 27.13, which is 159% above median its own 10-year median of 10.46. 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 (LTS:0JDI) is currently considered Significantly Overvalued. The stock's GF Value™ is $53.57, compared to a current price of $80.36 — trading 50% above its estimated fair value. The current PB Ratio is 27.13, which is 159% above median its 10-year median of 10.46 and 868.9% above the Biotechnology industry median of 2.80. Ionis Pharmaceuticals' overall GF Score™ is 66/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Ionis Pharmaceuticals (LTS:0JDI), the current PB Ratio is 27.13 as of Jun. 28, 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 (LTS:0JDI) Overvalued in 2026?
Based on GuruFocus' analysis, Ionis Pharmaceuticals stock appears to be overvalued.
The current stock price of $80.36 is trading 50% above its estimated GF Value™ of $53.57.
GuruFocus considers Ionis Pharmaceuticals to be Significantly Overvalued.
Key valuation signals for LTS:0JDI:
PB Ratio: 27.13 (159% above median its 10-year median of 10.46)
GF Value™: $53.57 vs. price of $80.36 (50% above fair value)
Industry Position: 868.9% above the Biotechnology median (#1167 of 1232)
No single metric tells the full story. See the LTS:0JDI 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).
66GF Score
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