CARLSBAD, Calif. — Brett Monia, Chief Executive Officer of Ionis Pharmaceuticals Inc. (NASDAQ:IONS), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Monia sold 33,445 shares of Ionis common stock on January 16, 2025, at an average price of $32.634 per share, generating proceeds of approximately $1.09 million. The transaction comes as Ionis shares trade near their 52-week low of $31.40, with the stock down about 38% over the past year. According to InvestingPro data, analysts maintain a bullish outlook with price targets ranging from $37 to $78.
The transaction was part of an automatic sale to cover tax withholding obligations related to the vesting of restricted stock units. Following this sale, Monia's direct ownership of Ionis stock totals 207,396 shares.
In addition to the sale, Monia acquired 73,448 shares of common stock on January 15, 2025, through the vesting of restricted stock units, although this transaction did not involve any cash exchange. This acquisition was part of a larger transaction involving performance restricted stock units and restricted stock units granted under the company's equity incentive plan.
In other recent news, Ionis Pharmaceuticals has maintained its positive ratings from Piper Sandler and Needham following the FDA's approval of its drug, TRYNGOLZA, for the treatment of Familial Chylomicronemia Syndrome (FCS). The newly approved drug, which is Ionis Pharmaceuticals' first solo commercial drug launch, is priced at $595,000 per year, aligning with the anticipated cost for treatments targeting ultra-rare diseases. The company's immediate strategy is to transition patients to the commercial drug in the first half of 2025. Piper Sandler projects $37 million in U.S. FCS revenue for the fiscal year 2025, while Needham's revenue forecast for TRYNGOLZA in the same year stands at $27 million. These are recent developments in the company's journey, as it also reported its third-quarter financial results for 2024, emphasizing non-GAAP financials. Ionis Pharmaceuticals is poised for a new phase of commercial drug distribution, with analyst firms such as Needham and TD Cowen expressing confidence in the company's market position and the potential of TRYNGOLZA.
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