What smart money is saying about Ionis Pharmaceuticals
1 fund in our archive has pitched Ionis Pharmaceuticals, most recently Artisan Partners Non-U.S. Small-Mid Growth Strategy in September 2026.
Founded in 1989 and headquartered in Carlsbad, California, Ionis Pharmaceuticals, Inc. is a biopharmaceutical company specializing in the discovery and development of RNA-targeted therapies within the United States. Its commercial portfolio includes three key medications: SPINRAZA, prescribed for spinal muscular atrophy (SMA) in both children and adults; TEGSEDI, an injectable treatment targeting polyneuropathy associated with hereditary transthyretin-mediated amyloidosis in adult patients; and WAYLIVRA, which addresses familial chylomicronemia syndrome and familial partial lipodystrophy. Ionis also maintains a robust pipeline, with several drug candidates currently in Phase 3 clinical trials. These include Eplontersen, a monthly self-administered subcutaneous injection designed for all forms of TTR amyloidosis; Olezarsen, intended for individuals with severe hypertriglyceridemia (SHTG); Donidalorsen, for patients suffering from hereditary angioedema; ION363, aimed at amyotrophic lateral sclerosis (ALS); Pelacarsen, developed for those with established cardiovascular disease and elevated lipoprotein(a); and Tofersen, which works by inhibiting the production of superoxide dismutase 1. Beyond these late-stage assets, the company is actively researching treatments for metabolic, infectious, renal, and ophthalmic diseases, as well as various types of cancer. The firm engages in significant collaborations, notably a strategic partnership with Biogen Inc. Additionally, it holds licensing and collaboration agreements with AstraZeneca, Bayer AG, GlaxoSmithKline plc, Novartis AG, Roche, Janssen Biotech, Inc., and Flamingo Therapeutics, Inc.
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Fund signal · last 12 months
7 lettersMore funds are selling than buying
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q2 2026 and Q3 2026, 7 fund letters reported a position in Ionis Pharmaceuticals, with 1 buy (opened or added) and 4 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 5 | 0 | 3 | 1 |
| Q2 2026 | 2 | 1 | 1 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 7 positions · 6 moves
- September 2026
“Ionis Pharmaceuticals IONS discovers and develops antisense treatments, which are precision genetic medicines targeting messenger RNA. We exited the position after two partnered late-stage (Phase 3) programs failed this summer, removing important opportunities underpinning our thesis.”
Ionis Pharmaceuticals - September 2026
“Ionis Pharmaceuticals is a biotechnology company specializing in RNA-targeted therapies for patients with significant unmet medical needs. The company is moving toward commercializing more of its own medicines, allowing it to capture greater long-term value from its innovation. We moved the position back to GardenSM last quarter following disappointing Phase 3 results for eplontersen in cardiomyopathy. This quarter, after a second Phase 3 trial disappointment for pelacarsen in Lp(a), we exited the position because these setbacks reduced our confidence in the profit cycle.”
Ionis Pharmaceuticals - September 2026
“Ionis Pharmaceuticals is a biotechnology company specializing in RNA-targeted therapies for patients with significant unmet medical needs. The company is transitioning toward commercializing more of its own medicines, allowing it to capture greater value from its innovation. However, following disappointing clinical results for eplontersen and pelacarsen, we exited our small GardenSM position as several important pipeline catalysts have either been unsuccessful or shifted further out, reducing the potential for near-term upside.”
Ionis Pharmaceuticals - September 2026
“Ionis Pharmaceuticals IONS discovers and develops antisense treatments, which are precision genetic medicines targeting messenger RNA. We exited the position after two partnered late-stage (Phase 3) programs failed this summer, removing important opportunities underpinning our thesis.”
Ionis Pharmaceuticals - September 2026
“SolarEdge Technologies, Ionis Pharmaceuticals and Legend Biotech were among the largest individual detractors.”
Ionis Pharmaceuticals - TrimmedBaron Health Care FundJune 2026
“Top net sales for the quarter Net Amount Sold ($M) AstraZeneca PLC 3.0 Ionis Pharmaceuticals, Inc. 2.3 Apogee Therapeutics, Inc. 2.0 Terns Pharmaceuticals, Inc. 1.8 Stryker Corporation 1.7 We reduced our positions in AstraZeneca PLC and Ionis Pharmaceuticals, Inc. due to valuation.”
Ionis Pharmaceuticals - June 2026
“We continued to build our position in Ionis Pharmaceuticals Inc., a commercial-stage biotechnology company focused on neurology and cardiovascular indications.”
Ionis Pharmaceuticals
Also mentioned · 1
These funds discuss Ionis Pharmaceuticals as a competitor, benchmark or comparable, without disclosing a position in it.
- March 2026
“New to the sector this quarter was Ionis Pharmaceuticals Inc., a commercial-stage biotechnology company focused on neurology and cardiovascular indications.”
Ionis Pharmaceuticals
Fund coverage · 1 thesis
- Artisan Partners Non-U.S. Small-Mid Growth StrategySeptember 2026
Ionis Pharmaceuticals has a pioneering RNA-targeted platform and expanding commercial capabilities with multiple approved and launching medicines.
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