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On Tuesday, H.C. Wainwright reaffirmed its positive stance on Alnylam Pharmaceuticals (NASDAQ:ALNY) stock, with a Buy rating and a price target of $500.00. The stock, currently trading at $273.55, has demonstrated remarkable strength with an 80.9% return over the past year. According to InvestingPro data, analysts maintain a bullish consensus with price targets ranging from $212 to $500, and 6 analysts have recently revised their earnings estimates upward. The research firm’s analyst highlighted the robust performance of Alnylam’s lead product, AMVUTTRA (vutrisiran), for the treatment of hereditary ATTR with polyneuropathy (hATTR-PN) as a key factor for the reaffirmation. The first quarter earnings report, released on May 1, 2025, showed a 45% year-over-year increase in U.S. TTR revenues, reaching $359 million. This growth signifies that approximately 70% of new patient starts in hATTR-PN for the quarter chose AMVUTTRA.
Additionally, the analyst noted the expanding formulary access for AMVUTTRA in ATTR with cardiomyopathy (ATTR-CM), which is expected to contribute to a strong launch trajectory in the second half of 2025. Feedback from physicians and payers has been positive, and the product’s differentiated profile – including Phase 3 HELIOS-B outcomes, quarterly dosing, and broad patient applicability – is resonating well in the market. This market success is reflected in the company’s impressive 17.21% revenue growth over the last twelve months, with InvestingPro analysis indicating strong financial health metrics and a robust gross profit margin of 86%.
In the report, Alnylam also reaffirmed its 2025 financial guidance, projecting product revenues between $2.05 billion and $2.25 billion. This guidance aligns closely with H.C. Wainwright’s own estimate of $2.17 billion and the consensus of $2.16 billion. The company expressed confidence in achieving sustainable non-GAAP operating profitability within the year, which is a significant milestone in its P5x25 strategic plan that was first unveiled in January 2021.
Looking forward, Alnylam is preparing to initiate several clinical programs in 2025. These include the Phase 3 TRITON-CM trial for the next-generation siRNA nucresiran in ATTR amyloidosis, a cardiovascular outcomes trial (CVOT) for zilebesiran in hypertension, and the ECLIPSE Phase 3 program for elebsiran in chronic hepatitis D virus infection (CHD). Progress in central nervous system (CNS) and bleeding disorder assets is also anticipated. Based on InvestingPro’s comprehensive analysis, which includes over 30 financial metrics and detailed research reports available for subscribers, Alnylam’s current market price suggests the stock is slightly overvalued relative to its Fair Value estimate.
In light of these developments, H.C. Wainwright reiterated its confidence in Alnylam’s potential to deliver significant clinical, commercial, and financial catalysts over the next year, supporting their Buy rating and $500 price target on the company’s stock.
In other recent news, Alnylam Pharmaceuticals reported its Q1 2025 earnings, exceeding expectations with an earnings per share (EPS) of -0.01, compared to the forecasted -0.93. The company’s revenue also surpassed projections, reaching $594.19 million against an anticipated $588.75 million. This strong performance was driven by a 28% year-over-year growth in total product revenues, particularly from the TTR franchise, which saw a 36% increase. Despite the positive financial results, Alnylam’s stock experienced a decline of 3.89% in pre-market trading. Additionally, the company’s rare disease franchise showed an 8% growth, although collaboration revenue decreased by 16%. Analysts from Barclays (LON:BARC) and Bank of America have been actively engaging with Alnylam, seeking clarity on revenue contributions and prescriber trends. The company remains optimistic about future growth, projecting a 36% year-over-year increase in TTR franchise revenues and planning to initiate the TRITON Centimeters Phase III study in the first half of 2025. Alnylam also anticipates potential approvals for ATTR cardiomyopathy treatments in Japan and the EU later this year.
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