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On Monday, H.C. Wainwright maintained a Buy rating on Alnylam Pharmaceuticals (NASDAQ:ALNY) with a price target of $500.00. The company, currently valued at $36.68 billion, has demonstrated strong momentum with an 11.94% gain over the past week and trades near its 52-week high of $304.39. The endorsement comes in the wake of the U.S. Food and Drug Administration’s (FDA) approval of AMVUTTRA (vutrisiran) for the treatment of ATTR amyloidosis with cardiomyopathy (ATTR-CM), which was announced after the markets closed on March 20.
Patrick Trucchio from H.C. Wainwright highlighted the FDA’s approval as a pivotal moment for both patients suffering from ATTR-CM and for the future growth of Alnylam. He noted the drug’s promising survival and hospitalization results from the HELIOS-B Phase 3 study and the company’s well-established commercial presence as factors that could enable AMVUTTRA to quickly become a dominant therapy in cardiomyopathy treatment. The company’s strong commercial execution is reflected in its impressive 22.97% revenue growth and 85.62% gross profit margin over the last twelve months.
Trucchio also emphasized the significance of Alnylam’s commercial strategy, which is just starting to tap into a market opportunity he estimates to be worth over $10 billion. This market potential is expected to propel the company’s growth well into the 2030s and beyond. According to InvestingPro analysis, which offers 12+ additional exclusive insights about Alnylam, the company maintains a healthy financial position with a current ratio of 2.78, indicating strong liquidity to support its growth initiatives.
The analyst pointed to the global expansion of AMVUTTRA for ATTR-CM and the commencement of pivotal Phase 3 trials, TRITON-CM and TRITON-PN, for nucresiran, Alnylam’s next-generation silencer, as upcoming catalysts that investors should watch. These developments are seen as key drivers for the company’s continued success in the field of ATTR amyloidosis treatment. For a comprehensive analysis of Alnylam’s valuation and growth prospects, investors can access the detailed Pro Research Report available exclusively on InvestingPro.
In other recent news, Alnylam Pharmaceuticals has received significant attention following the FDA’s approval of its drug Amvuttra for treating transthyretin amyloid cardiomyopathy (ATTR-CM). The approval, noted for including language on reducing cardiovascular mortality, has prompted several analyst firms to adjust their ratings and price targets for the company. JPMorgan upgraded Alnylam’s stock rating from Neutral to Overweight, raising the price target to $328, citing optimism about the company’s potential in the TTR amyloidosis market. Stifel maintained a Buy rating with a $300 price target, emphasizing the importance of Amvuttra’s label and pricing strategy. Scotiabank (TSX:BNS) increased their price target to $338, highlighting the drug’s favorable label and expected market uptake. Meanwhile, Cantor Fitzgerald held its Neutral rating with a $250 target, noting the label’s unique benefits compared to competitors. Canaccord Genuity raised their price target to $390, maintaining a Buy rating and expressing confidence in the company’s pricing strategy. These developments reflect a broad consensus among analysts on the promising outlook for Alnylam Pharmaceuticals following the recent FDA approval.
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