Ionis Pharmaceuticals EVP Jenne Kyle sells $85,533 in stock

Jenne Kyle, the Executive Vice President and Chief Global Product Strategy Officer of Ionis Pharmaceuticals Inc. (NASDAQ:IONS), recently sold shares of the company as reported in a filing with the Securities and Exchange Commission. On April 16, Kyle sold 3,016 shares of Ionis common stock at a weighted average price of $28.36 per share, totaling approximately $85,533. The transaction comes as the $4.5 billion market cap biotech company trades near its 52-week low of $23.95, with the stock down about 19% year-to-date.

This transaction followed a previous acquisition on April 15, where Kyle acquired 12,226 shares through the vesting of a Restricted Stock Unit (RSU) award. These shares were acquired at no cost as part of the company’s equity incentive plan, which vests RSUs in four equal annual installments. After these transactions, Kyle holds 11,199 shares directly. According to InvestingPro, Ionis maintains a "Fair" overall financial health score, with analysts setting price targets ranging from $37 to $78 per share. The company is scheduled to report earnings in 13 days.

The sale was conducted to cover tax withholding obligations related to the RSU award, as stipulated by Ionis’s 2011 Equity Incentive Plan. InvestingPro analysis reveals several additional insights about Ionis’s financial position and market performance, available in the comprehensive Pro Research Report, which covers over 1,400 US stocks.

In other recent news, Ionis Pharmaceuticals has been active with several noteworthy developments. The company recently announced a licensing agreement with Sobi, granting exclusive rights to commercialize olezarsen, branded as TRYNGOLZA™, outside the U.S., Canada, and China. This follows the FDA’s approval of TRYNGOLZA™ as the sole treatment for familial chylomicronemia syndrome (FCS) in the U.S. Additionally, Ionis is investigating olezarsen for severe hypertriglyceridemia (sHTG) in ongoing Phase 3 trials, with results anticipated in 2025.

Analyst firms have varied in their outlooks on Ionis. H.C. Wainwright initiated coverage with a Buy rating and a $45 price target, citing confidence in upcoming product launches. Meanwhile, Redburn-Atlantic began coverage with a Neutral rating and a $39 price target, noting potential in Ionis’ pipeline but emphasizing the need for further data. UBS also maintains a Neutral stance, keeping a $45 target after discussions with Ionis’ management about their strategic focus on launching TRYNGOLZA™.

Oppenheimer remains optimistic, maintaining an Outperform rating and a $78 price target, highlighting Ionis’ licensing agreement with Ono Pharmaceuticals for sapablursen. This partnership is expected to bolster Ionis’ market position and support multiple product launches. Collectively, these recent developments underscore Ionis Pharmaceuticals’ active engagement in expanding its therapeutic offerings and strategic collaborations.

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