IONS
Ionis Pharmaceuticals, Inc.
IONS has lower modeled downside risk, despite its lower overall score.
OSCR
Oscar Health, Inc.
OSCR has the edge over IONS overall, supported by stronger fundamentals and stronger modeled upside.
IONS Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Weak | |
| Strong |
IONS's balance sheet is currently strong, but its revenue, profitability and cash flow are under pressure.
OSCR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Strong |
OSCR's revenue, profitability, cash flow and balance sheet are all currently healthy.
IONS PE Valuation
IONS has no meaningful PE right now: it lost money over the past year.
OSCR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $31.94 | — |
| Current | 13x | $31.94 | — |
| Cheap | 21x | $52.73 | +65% |
| Fair | 35x | $87.23 | +173% |
| Expensive | 130x | $322 | +907% |
Historical ranges are pointers, not guarantees.
OSCR's PE is 13x, but its earnings don't support one, so it isn't a reliable read right now.
IONS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect IONS's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
OSCR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for OSCR, with profitability improving.
IONS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.32 | -$1.63 |
| Q2 2026 | -$3.46 | -$1.62 |
| Q1 2026 | -$2.07 | +$0.92 |
| Q4 2025 | -$2.44 | +$0.60 |
| Q3 2025 | -$1.69 | +$0.75 |
| Q2 2025 | -$1.84 | +$0.68 |
| Q1 2025 | -$2.99 | -$0.32 |
| Q4 2024 | -$3.04 | -$0.48 |
IONS is still losing money, but less than at its worst: $3.32 per share over the past year, against $4.23 at its worst in late 2021.
OSCR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.61 | +5.6% |
| Q3 2026 | $2.47 | +$3.47 |
| Q2 2026 | $1.45 | +$2.14 |
| Q1 2026 | -$0.54 | -235% |
| Q4 2025 | -$1.69 | -1790% |
| Q3 2025 | -$1.00 | -$0.92 |
| Q2 2025 | -$0.69 | -$0.54 |
| Q1 2025 | $0.40 | +$0.82 |
| Q4 2024 | $0.10 | +$1.32 |
OSCR has the edge over IONS on earnings quality, reporting a profit while its opponent remains loss making.
IONS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $242.7M | +55% |
| Q2 2026 | $267.9M | -41% |
| Q1 2026 | $246.1M | +87% |
| Q4 2025 | $203.3M | -10% |
| Q3 2025 | $156.7M | +17% |
| Q2 2025 | $452M | +101% |
| Q1 2025 | $131.6M | +10% |
| Q4 2024 | $226.6M | -30% |
IONS's revenue is recovering but still below its 2019 peak: $243M last quarter, up 55% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -54% | +48 points |
| Q2 2026 | -38% | -69 points |
| Q1 2026 | -48% | +64 points |
| Q4 2025 | -105% | -57 points |
| Q3 2025 | -102% | +8.9 points |
| Q2 2025 | 31% | +60 points |
| Q1 2025 | -112% | +14 points |
| Q4 2024 | -49% | -47 points |
IONS's operating margin was −54% last quarter, up 48 points from the same quarter a year ago.
OSCR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.1B | +72% |
| Q2 2026 | $4.9B | +70% |
| Q1 2026 | $4.6B | +53% |
| Q4 2025 | $2.8B | +17% |
| Q3 2025 | $3B | +23% |
| Q2 2025 | $2.9B | +29% |
| Q1 2025 | $3B | +42% |
| Q4 2024 | $2.4B | +67% |
OSCR has the edge over IONS on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.5% | +7.8 points |
| Q2 2026 | 8% | +16 points |
| Q1 2026 | 15% | +5.4 points |
| Q4 2025 | -12% | -5.7 points |
| Q3 2025 | -4.3% | -2.3 points |
| Q2 2025 | -8.1% | -11 points |
| Q1 2025 | 9.8% | +1.1 points |
| Q4 2024 | -6.2% | +4 points |
OSCR has the edge over IONS on profitability, with a higher operating margin.
IONS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$192.1M | -$55.4M |
| Q2 2026 | $549.5M | +295% |
| Q1 2026 | -$814.6M | -$651.2M |
| Q4 2025 | -$159M | -$17.4M |
| Q3 2025 | -$136.7M | -$12.7M |
| Q2 2025 | $139M | +$265.1M |
| Q1 2025 | -$163.4M | -$8.9M |
| Q4 2024 | -$141.6M | -520% |
IONS has burned cash in most quarters: −$616M over the past year, against −$303M the year before.
OSCR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.2B | -$238.2M |
| Q2 2026 | $2.1B | +316% |
| Q1 2026 | $2.6B | +200% |
| Q4 2025 | $662.8M | +95% |
| Q3 2025 | -$973.7M | -$466M |
| Q2 2025 | $499.8M | +2.1% |
| Q1 2025 | $869.5M | +38% |
| Q4 2024 | $340M | +17% |
OSCR has the edge over IONS on cash generation, producing positive trailing cash flow while its opponent burns cash.
IONS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +786K shares |
| 1 year | +4% | +6.4M shares |
| 3 years | +16% | +22.9M shares |
| 5 years | +18% | +25.1M shares |
| Available history | +8.4% | +12.9M shares |
IONS has the edge over OSCR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | $52,000 |
| Q1 2020 | $90.6M |
OSCR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.9% | +13M shares |
| 1 year | +34% | +87.2M shares |
| 3 years | +55% | +123M shares |
| 5 years | +66% | +138M shares |
| Available history | +71% | +143M shares |
OSCR has 346M diluted shares, up 34% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
IONS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2022 | -8.8x | Net Cash |
| Q2 2022 | -56.9x | Net Cash |
| Q1 2022 | -24.7x | Net Cash |
| Q3 2020 | -5.0x | Net Cash |
| Q2 2020 | -3.2x | Net Cash |
| Q1 2020 | -2.5x | Net Cash |
| Q4 2019 | -1.8x | Net Cash |
IONS has more cash than debt.
OSCR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -4.2x | Net Cash |
| Q2 2026 | -5.5x | Net Cash |
| Q1 2026 | -110.0x | Net Cash |
| Q1 2025 | -9.7x | Net Cash |
| Q4 2024 | -13.7x | Net Cash |
| Q3 2024 | -10.1x | Net Cash |
| Q2 2024 | -24.0x | Net Cash |
| Q1 2024 | -217.7x | Net Cash |
OSCR has more cash than debt.
IONS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 21.4 | Oversold |
| Stochastic | 3.6 | Oversold |
IONS's weekly RSI is 21 (oversold) and its Stochastic is 4 (oversold).
OSCR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.7 | Neutral |
| Stochastic | 44.9 | Neutral |
OSCR's weekly RSI is 59 (neutral) and its Stochastic is 45 (neutral).
IONS PE vs Healthcare Sector
| Metric | IONS | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
IONS has no meaningful PE right now: it lost money over the past year.
OSCR PE vs Healthcare Sector
| Metric | OSCR | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 26x | 50% below |
| PE % | 3 | 35 | 32 pts below |
OSCR is trading at 13x earnings, a 50% discount to the Healthcare sector's median of 26x, though its earnings don't support one.
IONS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $41.2 | 34% below |
| 20 week MA | $51.2 | 47% below |
| 50 week MA | $66.9 | 59% below |
| 100 week MA | $55.6 | 51% below |
| 200 week MA | $49.0 | 44% below |
IONS is in a downtrend: it's below all five of its weekly moving averages, and 44% below its 200-week average.
OSCR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.2 | 2.3% above |
| 20 week MA | $31.1 | 2.8% above |
| 50 week MA | $22.9 | 39% above |
| 100 week MA | $19.3 | 65% above |
| 200 week MA | $15.5 | 106% above |
OSCR has the edge over IONS on trend strength, trading above more of its moving averages.
IONS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $60.8 | $59.7 | -1.8% |
| 2021 | $59.7 | $32.7 | -45% |
| 2022 | $32.7 | $38.2 | +17% |
| 2023 | $38.2 | $50.6 | +33% |
| 2024 | $50.6 | $35.9 | -29% |
| 2025 | $35.9 | $79.9 | +123% |
| 2026 YTD | $79.9 | $27.3 | -66% |
IONS's yearly returns have swung widely, from +123% in 2025 to −45% in 2021. It's down 66% so far in 2026.
OSCR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $31.0 | $8.02 | -74% |
| 2022 | $8.02 | $2.21 | -72% |
| 2023 | $2.21 | $9.15 | +314% |
| 2024 | $9.15 | $13.8 | +51% |
| 2025 | $13.8 | $14.9 | +8% |
| 2026 YTD | $14.9 | $31.9 | +114% |
OSCR has the edge over IONS on returns for 2026, with the stronger performance.