Pharmaceutical Preparations
Ionis Pharmaceuticals, Inc. discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy. It also develops medicines for various indications that are in phase 3 study, including Eplontersen as a monthly self-administered subcutaneous injection to treat all types of ATTR; Olezarsen for patients with FCS and severe hypertriglyceridemia (SHTG); Donidalorsen for patients with hereditary angioedema; ION363 for patients with amyotrophic lateral sclerosis; Tofersen to inhibit the production of superoxide dismutase 1; Pelacarsen for patients with established cardiovascular disease and elevated lipoprotein(a); and Bepirovirsen to inhibit the production of viral proteins associated with hepatitis B virus. In addition, the company develops Cimdelirsen to inhibit the production of growth hormone receptor; IONIS-FB-LRx to inhibit the production of complement factor B and the alternative complement pathway; and ION224 to reduce the production of diacylglycerol acyltransferase 2. It has a strategic collaboration with Biogen for the treatment of neurological disorders; and collaboration and license agreement with Metagenomi, Inc, AstraZeneca, Bayer AG, GlaxoSmithKline plc, Novartis, Roche, Swedish Orphan Biovitrum AB, and PTC Therapeutics. Ionis Pharmaceuticals, Inc. was incorporated in 1989 and is based in Carlsbad, California.
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In the chart Earnings are multiplied by this value.
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
---|---|---|---|---|---|---|---|---|---|---|
Net Margin | -31% | -25% | -3.4% | 36% | 26% | -67% | -3.5% | -46% | -47% | -50% |
ROA | -5.4% | -4.9% | 1.9% | -1.2% | 12% | -5.2% | -1.1% | -10% | -11% | -13% |
ROE | -44% | -87% | -4.1% | 18% | 17% | -58% | -3.7% | -47% | -95% | -130% |
The average Net Margin over the past 5 years is -16.77%.
The trend of Net Margin over the past 5 years is -16.14%.
The average ROA over the past 5 years is -2.77%.
The trend of ROA over the past 5 years is -3.23%.
The average ROE over the past 5 years is -27.94%.
The trend of ROE over the past 5 years is -20.11%.
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
---|---|---|---|---|---|---|---|---|---|---|
Debt FCF | 0.04 | -4.21 | 3.84 | 0.99 | 2.50 | 1087.53 | 0.00 | -4.12 | -4.08 | -0.13 |
Debt Equity | 0.00 | 5.04 | 1.28 | 0.49 | 0.47 | 1.00 | 0.00 | 2.08 | 3.50 | 0.15 |
MIN | ||||||||||
Graham Stability | - | - | - | - | 100% | -300% | -380% | - | - | -380% |
The Debt/FCF trailing twelve month is -0.13.
The trend of Debt/FCF over the past 5 years is -32.36.
Graham’s Stability measure stands at -3.84.
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
---|---|---|---|---|---|
Revenue | 12% | 5.6% | 2.6% | 34% | -6.5% |
Net Income | - | - | - | - | - |
Stockholders Equity | 21% | -20% | -23% | -33% | -27% |
FCF | - | - | - | - | 600% |
The Revenue CAGR over the past 5 years is +5.6%.
The trend of Revenue growth rate over the past 5 years is -6.53%.
The Earnings CAGR over the past 5 years is -.
The trend of Earnings growth rate over the past 5 years is -.
The Equity CAGR over the past 5 years is -20.1%.
The trend of Equity growth rate over the past 5 years is -27.07%.
The FCF CAGR over the past 5 years is -.
The trend of FCF growth rate over the past 5 years is +600.13%.