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On Wednesday, Piper Sandler expressed continued confidence in Alnylam Pharmaceuticals (NASDAQ:ALNY), maintaining an Overweight stock rating and a price target of $304.00. With a current market capitalization of $31.74 billion and trading at $245.20, InvestingPro analysis suggests the stock is slightly overvalued based on its proprietary Fair Value model. The firm’s analyst cited the anticipated approval of AMVUTTRA for the treatment of ATTR-CM by the upcoming PDUFA date on March 23, 2025. This approval is expected to significantly boost Alnylam’s sales to an estimated $2.75 billion by 2026. The company has already demonstrated strong revenue growth, with a 22.97% increase in the last twelve months and an impressive gross profit margin of 85.62%. For deeper insights into Alnylam’s financial health and growth potential, InvestingPro offers extensive analysis and 10 additional key investment tips.
Alnylam Pharmaceuticals is poised for rapid growth and is projected to achieve non-GAAP operating profit within the year, despite investments in its extensive RNAi pipeline. The analyst’s optimism is further supported by the company’s upcoming clinical developments. Alnylam plans to launch Phase III TRITON trials for its bi-annual nucresiran in patients with ATTR-CM in the first half of 2025 and in ATTR-PN in the second half of the year.
The company is also awaiting a PDUFA decision for Sanofi (NASDAQ:SNY)’s fitusiran, a treatment for hemophilia, expected by March 28, 2025. Additionally, Alnylam is set to report Phase II KARDIA-3 data on zilebesiran, developed in partnership with Roche, in the second half of 2025. This will be followed by the initiation of a pivotal Phase III CVOT trial, which could trigger a $300 million milestone payment.
Alnylam’s robust pipeline includes plans to file four or more Investigational New Drug (IND) applications or Clinical Trial Applications (CTAs) throughout the year. By the end of 2025, the company aims to have over 25 clinical programs in progress. Piper Sandler’s reiteration of the Overweight rating and $304 price target underscores the firm’s expectation of Alnylam’s continued progress and success in the biopharmaceutical field. According to InvestingPro data, analyst targets for the stock range from $195 to $500, with the company maintaining a healthy current ratio of 2.78, indicating strong liquidity to support its ambitious growth plans. Get access to the comprehensive Pro Research Report for detailed analysis of Alnylam’s market position and growth trajectory.
In other recent news, Alnylam Pharmaceuticals reported a notable achievement in its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.06, contrary to a projected loss of $0.58. The company’s revenue also exceeded forecasts, reaching $593.16 million against the anticipated $580.61 million. Alnylam achieved its first full-year non-GAAP operating profit of $95 million, marking a significant milestone for the company. Analysts at H.C. Wainwright raised their price target for Alnylam to $500, maintaining a Buy rating, citing the potential of Alnylam’s AMVUTTRA and its successor, nucresiran. Canaccord Genuity also maintained a Buy rating, adjusting its price target slightly to $385, following the company’s fourth-quarter 2024 report. Alnylam is preparing for the commercial launch of AMVUTTRA for ATTR cardiomyopathy, with a Prescription Drug User Fee Act (PDUFA) date set for March 23, 2025. Additionally, Alnylam is advancing its central nervous system-targeted pipeline, including mivelsiran for Alzheimer’s disease and partnered ALN-HTT02 for Huntington’s disease. The company plans to initiate a Phase 3 study for nucresiran in the first half of 2025.
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