Bennett C. Frank, Executive Vice President and Chief Scientific Officer of 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 of transaction of $222,113. The transaction comes as Ionis shares are trading near their 52-week low of $31.40, with the stock down approximately 38% over the past year. The company, now valued at nearly $5 billion, is facing 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 free of charge, as part of his compensation package. According to InvestingProoffering comprehensive analysis and 8 additional key insights about Ionis, the company currently operates with a moderate level of debt while maintaining strong liquidity.

Following these transactions, Frank will own a total of 90,866 shares of Ionis Pharmaceuticals. Stock transactions are made as part of routine financial management and compliance with the company’s equity incentive plans.

In other recent news, Ionis Pharmaceuticals saw significant improvements in the FDA approval of its drug, TRYNGOLZA, for the treatment of Familial Chylomicronemia Syndrome (FCS). Piper Sandler maintained an Overweight rating for Ionis, consistent with the company’s positive outlook. The drug, priced at $595,000 annually, is expected to generate $37 million in US FCS revenue for fiscal year 2025, according to Piper Sandler’s projections.

Meanwhile, Needham maintained a Buy rating on Ionis, with a target price of $60.00. The approval of TRYNGOLZA is an important milestone for the company and is expected to reduce triglycerides by 30.0% at the six-month mark. Needham projects that TRYNGOLZA’s revenue by 2025 will be $27 million, slightly below the current estimate of $28 million.

Additionally, Ionis reported third quarter financial results for 2024, highlighting the importance of non-GAAP financial results. The company believes these numbers more accurately reflect the business’s operations and long-term prospects. These recent developments highlight the growth and potential of Ionis Pharmaceuticals in the pharmaceutical industry.

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