Tuesday, H.C. Wainwright maintained a Buy rating on Alnylam Pharmaceuticals (NASDAQ:ALNY), following the company's pre-announcement of its fourth quarter and full-year 2024 financial results, along with revenue guidance for 2025.
Alnylam Pharmaceuticals, a leader in RNAi therapeutics, reported expected net product revenues of $452 million for the fourth quarter of 2024, surpassing both the firm's estimate of $440 million and the consensus of $435 million. The company's full-year revenues for 2024 are anticipated to reach $1.65 billion, which is also above the firm's forecast of $1.64 billion and the consensus of $1.63 billion.
The TTR franchise primarily fueled Alnylam's revenue growth. Looking ahead, Alnylam has set a net product revenue guidance range for 2025 between $2.05 billion and $2.25 billion, which is in line with H.C. Wainwright's estimate of $2.23 billion and above the consensus of $2.14 billion. The TTR franchise is expected to contribute between $1.60 billion and $1.73 billion, while the Ultra Rare franchise is projected to bring in between $450 million and $525 million.
Alnylam's guidance for 2025 includes the anticipated FDA approval of AMVUTTRA (vutrisiran) for patients with ATTR cardiomyopathy (ATTR-CM) by the March 23, 2025, Prescription Drug User Fee Act (PDUFA) target action date. AMVUTTRA, a once-quarterly subcutaneously-administered RNAi therapeutic, is a key component of the company's strategy.
The firm gave a $400.00 price target and highlighted that achieving the projected revenue guidance would set Alnylam on a path to non-GAAP profitability in 2025. This financial milestone is eagerly anticipated by the company's management.
In light of the potential approval and launch of AMVUTTRA in ATTR-CM, and upcoming pipeline updates, H.C. Wainwright reiterated its positive stance on Alnylam Pharmaceuticals shares, underscoring the company's promising financial trajectory and innovative product pipeline.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.