Joseph Baroldi, Executive Vice President and Chief Operating Officer of Ionis Pharmaceuticals Inc. (NASDAQ:), recently announced the sale of approximately $144,861 worth of company stock. Transactions since January 16 included the sale of 4,430 shares at $32.70 each. The sale comes as the $4.97 billion market cap company is trading near its 52-week low of $31.40, after falling more than 33% over the past six months. InvestingPro analysis shows that the stock is currently fairly valued based on comprehensive fundamental analysis.
On January 15, Baroldi also completed stock acquisition transactions through the acquisition of restricted stock units. These acquisitions were made at no cost, in accordance with the terms of the incentive plans of Ionis Pharmaceuticals.
After these transactions, Baroldi directly and indirectly holds a significant number of shares. The sale was made to cover the withholding tax obligations associated with the vesting of restricted stock units, as set forth in the equity incentive plan agreements.
In other recent news, Ionis Pharmaceuticals maintained its positive ratings from Piper Sandler and Needham after the FDA approved olezarsen (TRYNGOLZA) for adults with familial chylomicronemia syndrome (FCS). The drug, Ionis’ first stand-alone commercial launch, is priced at $595,000 a year, which is in line with expected costs for treating ultra-rare diseases. The company plans to transition Open-Label Extension (OLE) and Expanded Access Program (EAP) patients to the commercial drug during the first half of 2025. Piper Sandler forecasts $37 million in US FCS revenue for fiscal year 2025, while Needham forecasts revenue for TRYNGOLZA in the same year is slightly lower at 27 million dollars. Ionis also recently released its third quarter 2024 financial results, with a focus on non-GAAP financial results. These developments highlight Ionis Pharmaceuticals’ progress in the pharmaceutical industry.
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