Bennett C. Frank, executive vice president and chief scientific officer of Ionis Pharmaceuticals Inc. (NASDAQ 🙂, recently reported a major stock transaction. According to the latest SEC filing, Frank sold 6,752 shares of Ionis common stock on January 16, 2025. Shares were sold at an average price of $32,896, equivalent to a total transaction value of $222,113. Ionis shares are trading near their 52-week low of $31.40, down about 38% over the past year. The company, currently valued at nearly $5 billion, has struggled with market conditions. challenging.
In addition to the sale, the filing also revealed that Frank acquired 18,011 shares of common stock on January 15, 2025, through the purchase of Restricted Stock Units. These shares were acquired at no cost, as part of his compensation package. According to InvestingPro, which offers in-depth analysis and eight additional key insights into Ionis, the company currently operates with moderate debt levels while maintaining strong liquidity.
Following these transactions, Frank owns 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 progress with the FDA approval of its drug, TRYNGOLZA, for the treatment of familial chylomicronemia syndrome (FCS). Piper Sandler maintained its Overweight rating on Ionis, aligning with the company’s positive outlook. The drug, priced at $595,000 a year, is expected to generate $37 million in U.S. FCS revenue by fiscal 2025, according to Piper Sandler projections.
On the other hand, Needham maintained its Buy rating on Ionis, with a price target of $60.00. The approval of TRYNGOLZA is a major milestone for the company and is expected to reduce triglycerides by 30.0% at six months. Needham projects TRYNGOLZA’s revenue in 2025 to be $27 million, slightly below the current consensus estimate of $28 million.
Additionally, 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 the progress and potential of Ionis Pharmaceuticals in the pharmaceutical industry.
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