Bennett C. Frank, executive vice president and chief scientific officer at Ionis Pharmaceuticals Inc. (NASDAQ: ), recently reported a significant stock transaction. According to the most recent 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, for a total transaction value of $222,113. The transaction comes as Ionis shares are trading near a 52-week low of $31.40, with shares down approximately 38% over the past year. The company, which is 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 without compensation, as part of his compensation package. According to InvestingProwhich offers comprehensive analysis and 8 additional key insights on Ionis, the company currently operates with moderate levels of debt while maintaining strong liquidity.
After these transactions, Frank holds a total of 90,866 shares of Ionis Pharmaceuticals. The share transactions were carried out as part of routine financial management and compliance with the company’s capital incentive plans.
In other recent news, Ionis Pharmaceuticals has seen significant progress with FDA approval of its drug, TRYNGOLZA, for the treatment of familial chylomicronemia syndrome (FCS). Piper Sandler maintained her overweight rating on Ionis, aligning with the company’s positive outlook. The drug, which costs $595,000 a year, is expected to generate $37 million in FCS revenue for fiscal year 2025, according to Piper Sandler projections.
On the other hand, Needham maintained a buy rating on 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% after six months. Needham forecasts TRYNGOLZA’s 2025 revenue to be $27 million, slightly below the current consensus estimate of $28 million.
Furthermore, Ionis released its third quarter 2024 financial results, highlighting the importance of non-GAAP financial results. The company believes these numbers more accurately reflect its business and long-term prospects. These recent developments highlight the progress and potential of Ionis Pharmaceuticals in the pharmaceutical industry.
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