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Brian Birchler, Executive Vice President of Corporate and Development Operations at Ionis Pharmaceuticals Inc. (NASDAQ:IONS), a biotechnology company with a market capitalization of $4.5 billion, recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. The stock, which InvestingPro analysis indicates is currently trading near Fair Value, has declined over 30% in the past year. On April 16, Birchler sold 680 shares of Ionis common stock at a price of $28.37 per share, totaling $19,291.
This sale was part of an automatic transaction to cover tax withholding obligations under the company’s 2011 Equity Incentive Plan. Prior to this, on April 15, Birchler acquired 1,875 shares of common stock through the vesting of Restricted Stock Units, which were granted as part of his compensation package. Following these transactions, Birchler holds 56,660 shares of Ionis common stock directly.
In other recent news, Ionis Pharmaceuticals has been in the spotlight with several significant developments. The company has reported a licensing agreement with Sobi for the commercialization of olezarsen, branded as TRYNGOLZA™, outside the U.S., Canada, and China. This follows the FDA’s approval of TRYNGOLZA™ in December 2024 for familial chylomicronemia syndrome (FCS). Ionis is set to receive milestone payments and royalties from this partnership. Furthermore, Ionis is investigating olezarsen for severe hypertriglyceridemia (sHTG) with Phase 3 trial results expected in 2025.
On the analyst front, H.C. Wainwright initiated coverage on Ionis with a Buy rating and a $45 price target, citing confidence in the company’s pipeline and upcoming product launches. Redburn-Atlantic started coverage with a Neutral rating and a $39 target, highlighting the need for more data on Ionis’ drug candidate Wainua for ATTR-CM. UBS maintained a Neutral rating with a $45 target, following a meeting with Ionis management. Additionally, Oppenheimer reaffirmed an Outperform rating and a $78 price target, emphasizing Ionis’ licensing agreement with Ono Pharmaceuticals for sapablursen. These developments underscore Ionis Pharmaceuticals’ strategic efforts in expanding its market reach and advancing its drug pipeline.
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