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Joseph Baroldi, Executive Vice President and Chief Business Officer at Ionis Pharmaceuticals Inc. (NASDAQ:IONS), executed a series of stock transactions recently, according to a regulatory filing. On April 15, Baroldi acquired 10,837 shares of Ionis common stock through the vesting of restricted stock units, which were acquired at no cost. The transactions come as Ionis, currently valued at $4.51 billion, maintains a Fair overall financial health rating according to InvestingPro analysis.
The following day, April 16, Baroldi sold 3,928 shares at an average price of $28.40 per share. This sale, conducted as part of an automatic sale to cover tax obligations under the company’s equity incentive plan, amounted to a total transaction value of $111,555. The transaction price reflects the stock’s challenging performance, with shares down about 31% over the past year.
After these transactions, Baroldi directly owns 31,926 shares of Ionis Pharmaceuticals, with an additional 3,071 shares held indirectly by his spouse. Notably, analysts maintain a positive outlook on the stock, with price targets ranging from $37 to $78 per share. Get comprehensive analysis and additional insights with InvestingPro’s detailed research report.
In other recent news, Ionis Pharmaceuticals has been the focus of several significant developments. The company announced a licensing agreement with Sobi, granting them exclusive rights to commercialize olezarsen for familial chylomicronemia syndrome (FCS) and severely elevated triglycerides outside the U.S., Canada, and China. This follows the FDA’s approval of olezarsen, branded as TRYNGOLZA™, as the sole treatment for FCS in the U.S. in December 2024. Additionally, Ionis secured a partnership with Ono Pharmaceuticals to develop and commercialize sapablursen for polycythemia vera, enhancing its market position and supporting future product launches. Analyst firms have weighed in on Ionis’ prospects, with H.C. Wainwright initiating coverage with a Buy rating and a $45 price target, citing confidence in upcoming product launches and data readouts. Meanwhile, Redburn-Atlantic gave Ionis a Neutral rating with a $39 target, highlighting the need for further data on Wainua for ATTR-CM treatment. UBS also maintained a Neutral stance with a $45 target after meeting with Ionis management, focusing on the launch of Tryngolza for FCS. Oppenheimer remains optimistic, maintaining an Outperform rating and a $78 target, emphasizing the strategic partnerships and Ionis’s goal to achieve significant sales growth. These developments underscore Ionis Pharmaceuticals’ strategic efforts in expanding its therapeutic reach and strengthening its market position.
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