Eric Swayze, Executive Vice President of Research at Ionis Pharmaceuticals Inc. (NASDAQ:), a $5 billion market cap biotechnology company, recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. On January 16, Swayze sold a total of 7,176 shares of Ionis common stock, generating approximately $235,678. The shares were sold at prices ranging from $32.7 to $32.843 per share, notably as the stock trades near its 52-week low. InvestingPro analysis shows the stock has declined nearly 38% over the past year.
Additionally, on January 15, Swayze acquired 19,111 shares through the vesting of restricted stock units, although these transactions did not involve any cash outlay. The transactions reflect routine activity related to stock-based compensation and tax obligations. Following these transactions, Swayze holds 45,670 shares directly and 184 shares indirectly through his son. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 8.91, while analyst price targets range from $37 to $78. Get access to more exclusive insider trading patterns and comprehensive analysis with InvestingPro’s detailed research reports, available for 1,400+ US stocks.
In other recent news, Ionis Pharmaceuticals marked a significant milestone with the FDA approval of its drug, TRYNGOLZA, for the treatment of Familial Chylomicronemia Syndrome (FCS). This approval, as confirmed by Needham and Piper Sandler, is a key development in the pharmaceutical industry. The drug, priced at an annual Wholesale Acquisition Cost of $595,000, demonstrated a reduction in triglycerides by 30.0% at the six-month mark in the BALANCE Phase 3 study.
The recent developments include Ionis’s third-quarter financial results for 2024, which focused on non-GAAP financials, indicating confidence in their operational management and long-term prospects. Piper Sandler’s analysis projects $37 million in U.S. FCS revenue for the fiscal year 2025 from the sales of TRYNGOLZA. However, InvestingPro analysts anticipate a sales decline in the current year.
The company’s immediate strategy is to transition patients from Open-Label Extension (OLE) and Expanded Access Program (EAP) to the commercial drug during the first half of 2025, with expectations for a gradual increase in uptake thereafter. Analysts from Needham anticipate a potential price reduction if the drug also receives approval for Severe…
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