Verdict: Side-by-side breakdown using the Bull Rankings model. IONS scored 19.3, HALO scored 83.1 — HALO leads.
Compare another set
IONS
Ionis Pharmaceuticals, Inc.
Biotechnology · Quality-Growth
19.3
$45.28 · $7.5B
fundamentals as of
Score gap
63.8
HALO leads
HALO
Halozyme Therapeutics, Inc.
Biotechnology · Quality-Growth
83.1
$110.42 · $12.5B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
Fastest growthHALO+41.2%
Highest qualityHALO89 / 100
Largest discount to fair valueHALO-40%
Side by side · every name on one set of axes
The model, pillar by pillar (0–100 each)
IONS
stronger →← stronger
HALO
12
Qualityreturns · margins · balance sheet
89
77
Growthrevenue & earnings expansion
98
8
Valuevaluation vs sector peers
66
HALO is stronger on 3 of 3 pillars.
Fundamentals, head-to-head
IONS
HALO
-$568mF
FCF
$806mC+
+33.8%A
Rev
+41.2%A
4.98D
D/E
—
8.6xC+
P/S
—
27.33D
PEG
1.47B
—
P/E
32.3xC+
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
IONS
HALO
—
Price vs fair valuelower is cheaper
40% below
—
Growth the price impliesyr-1 FCF growth, fading to 4% · lower = less priced in
~2%/yr
—
1-yr DCF upside
+27%
—
5-yr DCF upside
+66%
—
10-yr DCF upside
+146%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
IONS
Why this score
Diluting shareholders
HALO
Why this score
Buying back stock
Durable high returns
The companies
IONSIonis Pharmaceuticals, Inc.
Biotechnology · $45.28 · beta 0.38
Why now
Biotechnology · market cap $7.5b. Down 48% from 52-week high of $86.74 — deep drawdown territory. Revenue growing +34% — in hypergrowth territory. 22 sell-side analysts rate this a Buy with a mean 1-yr target of $83.64 (implying +85% upside).
Moat
Pharma moat is patent runway + pipeline depth — a single approved molecule funds the next generation of bets. Late-stage trials carry binary readouts that swing valuation 30%+.
Risk
D/E 4.98 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Free cash flow is negative (-$568m) — capital raises or debt issuance likely required; dilution / leverage risk. Currently unprofitable (margin -64.7%) — path to GAAP profitability is the core thesis risk.
HALOHalozyme Therapeutics, Inc.
Biotechnology · $110.42 · beta 0.88
Why now
Biotechnology · market cap $12.5b. 6% off the 52-week high of $116.85. Revenue growing +41% — in hypergrowth territory. 8 sell-side analysts rate this a Buy with a mean 1-yr target of $101.75 (implying -8% upside).
Moat
Net margin 25% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. FCF converts 195% of net income — earnings translate cleanly into cash. Pharma moat is patent runway + pipeline depth — a single approved molecule funds the next generation of bets. Late-stage trials carry binary readouts that swing valuation 30%+.
Risk
Trailing P/E 32x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates. Trial-readout binary — late-stage clinical trials carry approve/reject outcomes that swing valuation 30%+; the equity is effectively a portfolio of these binary events, not a steady cash-flow business.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where IONS and HALO diverge
On the headline score the gap is 63.8 points in favor of HALO. The widest single difference is Quality, where HALO leads by 76.6 points.
QualityIONS 12.3 · HALO 88.9HALO +76.6
ValueIONS 7.6 · HALO 65.9HALO +58.3
GrowthIONS 77.2 · HALO 98.0HALO +20.8
Pillars run 0–100. Value is judged against each company's own sector, so a Value score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.
Common questions
Is HALO or IONS the better stock?
HALO scores higher: HALO 83.1, IONS 19.3 out of 100 on the Bull Rankings quality-growth score, which blends business quality, growth and valuation into one number. A higher score means a stronger business at a more reasonable price — it is not a price target or a recommendation.
Where do HALO and IONS differ most?
The widest gap is quality, where HALO leads by 77 points on the 0–100 pillar scale. HALO leads all three pillars, so the gap is broad rather than a single-measure difference.
How are HALO and IONS scored?
Each carries the same 0–100 quality-growth score used everywhere on the site, built from three pillars — quality (profitability and returns on capital), growth (revenue and earnings), and value (what you pay for them) — combined as a geometric mean, so a weak pillar cannot be papered over by a strong one.
How current is this comparison?
The whole universe is re-scored every trading day after the US market close, so the scores and fundamentals here reflect the latest published edition.