Ionis Pharmaceuticals Inc

IONS remains below its 50-day and 200-day SMAs after a post-capitulation rally, showing medium-term bullish potential but recent exhaustion at resistance warrants patience. We will stalk for a pullback into the rising 9- and 20-day EMAs to confirm structural support before engaging. Primary downside risk is a break below the 9-day EMA, which would signal deeper weakness.

• ↑ZANVASTRO FDA approval could drive >$100M peak sales.
• ↑Tringolza Q2 revenue surged 3× to $19M.
• ↓Non-GAAP op losses of $425–475M challenge profitability targets.