Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Bennett C. Frank, Executive Vice President and Chief Scientific Officer at Ionis Pharmaceuticals Inc. (NASDAQ:), recently reported significant stock performance. 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, for a total sale amount of $ 222,113. The move comes as Ionis shares are trading near a 52-week low of $31.40, and the stock is down nearly 38% over the past year. The company, which is currently valued at approximately $5 billion, is facing difficult market conditions.
In addition to the sale, the filing also revealed that Frank received 18,011 shares of common stock on January 15, 2025, through the issuance of Restricted Stock Units. These shares were acquired free of charge, as part of his compensation package. To follow InvestingProwhich provides a comprehensive review and 8 other key facts about Ionis, the company currently operates with moderate credit ratings while maintaining strong liquidity.
After these transactions, Frank holds a total of 90,866 shares of Ionis Pharmaceuticals. The stock sale was made as part of regular financial management and in accordance with the company’s incentive plans.
In other recent news, Ionis Pharmaceuticals has seen major changes with the FDA approval of its drug, TRYNGOLZA, for the treatment of Familial Chylomicronemia Syndrome (FCS). Piper Sandler maintained her overweight status for Ionis, aligning herself with the company’s positive outlook. The drug, priced at $595,000 a year, is expected to generate $37 million in US FCS revenue for fiscal year 2025, according to Piper Sandler estimates.
Conversely, Needham maintained its Buy rating for Ionis, with a price target of $60.00. The approval of TRYNGOLZA is an important step for the company and is expected to reduce triglycerides by 30.0% at the six-month level. Needham projects TRYNGOLZA’s revenue by 2025 to be $27 billion, slightly below the current $28 million consensus estimate.
In addition, Ionis reported its third quarter 2024 financial results, highlighting the importance of non-GAAP financial results. The company believes these numbers reflect its business performance and long-term prospects. These latest developments highlight the progress and capabilities of Ionis Pharmaceuticals in the pharmaceutical industry.
This article was created with the support of AI and reviewed by the editor. For more details, see our T&C.
