Bennett C. Frank, Executive Vice President and Chief Scientific Officer at Ionis Pharmaceuticals Inc. (NASDAQ:), recently reported a significant stock transaction. According to the latest SEC filing, Frank sold 6,752 shares of Ionis common stock on January 16, 2025. The shares were sold at an average price of $32.896, amounting to a total transaction value of $222,113. The transaction comes as Ionis shares trade near their 52-week low of $31.40, with the stock down approximately 38% over the past year. The company, currently valued at nearly $5 billion, has faced challenging market conditions.
In addition to the sale, the filing also disclosed that Frank acquired 18,011 shares of common stock on January 15, 2025, through the vesting of Restricted Stock Units. These shares were acquired at no cost, as part of his compensation package. According to InvestingPro, which offers comprehensive analysis and 8 additional key insights about Ionis, the company currently operates with moderate debt levels while maintaining strong liquidity.
Following these transactions, Frank holds a total of 90,866 shares of Ionis Pharmaceuticals. The stock transactions were carried out as part of routine financial management and compliance with the company’s equity incentive plans.
In other recent news, Ionis Pharmaceuticals has seen significant developments with the FDA’s approval of its drug, TRYNGOLZA, for the treatment of Familial Chylomicronemia Syndrome (FCS). Piper Sandler maintained its Overweight rating for Ionis, aligning with the company’s positive outlook. The drug, priced at $595,000 per year, is expected to generate $37 million in U.S. FCS revenue for the fiscal year 2025, according to Piper Sandler’s projections.
On the other hand, Needham maintained its Buy rating for Ionis, with a price target of $60.00. The approval of TRYNGOLZA is a significant milestone for the company and is expected to reduce triglycerides by 30.0% at the six-month mark. Needham projects TRYNGOLZA’s revenue in 2025 to be $27 million, slightly under the current consensus estimate of $28 million.
Furthermore, Ionis reported its third-quarter financial results for 2024, emphasizing the importance of non-GAAP financial results. The company believes these figures more accurately reflect its business operations and long-term prospects. These recent developments highlight Ionis Pharmaceuticals’ progress and potential in the pharmaceutical industry.
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