Ionis Pharmaceuticals’ valuations

Ionis Pharmaceuticals (IONS) develops drugs for life-threatening diseases, and it commercializes the approved products in collaboration with other pharmaceutical companies. Ionis reported revenues of $118.0 million during the second quarter for 5.0% growth in YoY (year-over-year) revenues compared to the second quarter of 2017.

The chart below compares the forward EV[1. enterprise value]-to-revenues multiple for Ionis Pharmaceuticals with its peers.

Ionis Pharmaceuticals’ Valuations on September 28

Forward EV-to-revenues multiple

On September 28, Ionis Pharmaceuticals traded at a forward EV-to-revenues multiple of 8.4x, compared to the industry average of 4.7x. Among its competitors, Incyte (INCY), Regeneron Pharmaceuticals (REGN), and Abbott Laboratories (ABT) had forward EV-to-revenues multiples of 6.8x, 6.0x, and 4.5x, respectively.

Other valuation multiples

Ionis Pharmaceuticals (IONS) traded at a forward PE (price-to-earnings) multiple of ~133.7x on September 28, compared to the industry average of ~14.3x. Incyte (INCY), Regeneron Pharmaceuticals (REGN), and Abbott Laboratories (ABT) traded at forward PE multiples of 36.9x, 18.5x, and 23.1x, respectively.

On September 28, Ionis Pharmaceuticals traded at a forward EV-to-revenues multiple of 190.2x, compared to the industry average of 10.6x. Incyte (INCY), Regeneron Pharmaceuticals (REGN), and Abbott Laboratories (ABT) traded at forward EV-to-EBITDA multiples of 26.6x, ~14.1x, and 17.6x, respectively,

The VanEck Vectors Biotech ETF (BBH) holds 1.5% of its total investments in Ionis Pharmaceuticals (IONS), 3.9% in Incyte (INCY), and 4.9% in Regeneron Pharmaceuticals (REGN).

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