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More Reading from MarketBeat When Insider Selling Is a Good Thing: 2 Stocks to WatchWritten by Thomas Hughes. Publication Date: 3/23/2026. 
Key Points - Waste Management insiders sold roughly $25 million in stock after shares hit an all-time high in early 2026, but institutional accumulation and a growing dividend keep the long-term outlook bullish.
- Ionis Pharmaceuticals faces heavier insider and institutional selling, though analysts see roughly 25% upside driven by the commercial ramp of Olezarsen.
- Both stocks have pulled back from recent highs, potentially creating entry points for investors willing to look past short-term selling pressure.
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Insider selling can be constructive when insiders are taking profits in stocks that still have bullish outlooks. In this piece, one is a cash-generating, dividend-growth company; the other is a commercial-stage biopharma projecting double-digit — even near hyper-growth. Both pulled back from early-2026 highs amid insider sales, creating entry points for new investors. Waste Management Doesn't Waste Time: Growth and Dividends in 2026 Waste Management (NYSE: WM) rose about 25% from its 2025 low to a new all-time high in early 2026. That high prompted insiders—including the CEO, CFO, CAO, COO and several vice presidents—to sell shares. Those sales helped cap gains in Q1 but are otherwise immaterial to the stock's outlook: insiders own only 0.18% of the shares and sales totaled less than $25 million, while other drivers for the stock remain broadly bullish. Mark Your Calendar: April 20 A $7 trillion global race for a critical new resource is underway. Fox News calls it the "new arms race." And Nvidia's CEO says this vital new resource will create more millionaires in the next 5 years than the internet created in the last two decades. On April 20, a major event could ignite a handful of under-the-radar stocks. Click here now for all the details Institutional activity shows accumulation over the trailing 12-month (TTM) period, ramping in 2025 and remaining strong into 2026, with institutions holding roughly 80% of the stock. Notably, this group has been accumulating for three years without distribution quarters, and the earnings and capital-return outlook suggests that trend will continue. Analysts are also bullish, with high conviction: 25 ratings are currently tracked for 2026. The consensus provides support for the stock, a price tailwind, and an incentive for investors, with coverage increasing on a TTM basis. Sentiment is firming, with the Moderate Buy rating approaching Strong Buy and price targets trending higher. Consensus forecasts only about 10% upside as of late March, but analyst trends point to the high end of that range, which would be sufficient to reach a new all-time high.  The dividend is another reason to own WM. The company pays a market-beating ~1.65% yield in early 2026, maintains a sustainable payout ratio near 56% of earnings, and raises the distribution annually. At this pace, Waste Management is on track for potential inclusion in the Dividend Aristocrats Index by the end of the decade — a development that would likely increase buy-and-hold ownership, reduce volatility and support the stock's uptrend. Ionis Pharmaceuticals: A Cautious Outlook for a Potential Blockbuster Ionis Pharmaceuticals (NASDAQ: IONS) is an RNA-focused biopharma with several products on the market and two that matter most. The first is Spinraza, sold through a partnership, whose blockbuster-level sales are in decline. The second is a wholly owned therapy, Olezarsen, expected to reach peak sales above $2 billion. Many analysts view the $2 billion forecast as conservative, and price targets have been rising accordingly. Insider selling at Ionis resembles Waste Management's in that many insiders sold in Q1 2026. The difference is that Ionis insiders also sold heavily in 2025, and institutional investors compounded the sell-off. Institutions own more than 90% of the stock, and their selling has been a meaningful headwind in 2026. Data show institutions selling on a TTM basis — three of four quarters in 2025 and at a rapid pace in Q1 2026 as they took profits. Analysts provide the counterweight. Institutions took profits after the stock rose more than 100% from its 2025 low, but analyst data shows a consensus Moderate Buy from 21 analysts, with coverage increasing, sentiment firming, and price targets trending upward. The consensus forecasts roughly 25% upside by year-end, while the high end of analyst targets adds another ~10% beyond that.  Ionis' growth outlook is the primary reason to own the stock. The company is forecast to sustain a high-20% growth pace well into the next decade, reach profitability by 2028 and improve thereafter. The long-term scenario implies a roughly 7X multiple relative to the 2035 forecast, which could translate to substantial upside — the stock could more than double and still be relatively inexpensive under that framework. If Olezarsen's forecasts are indeed conservative and the rest of the pipeline progresses, the upside potential may be understated; Ionis has several candidates on track for near- and mid-term commercialization. |
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