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On Friday, RBC Capital Markets reiterated an Outperform rating on Alnylam Pharmaceuticals (NASDAQ:ALNY) with a steady price target of $330.00. The firm’s confidence in the biotechnology company was bolstered following a series of engagements that provided deeper insights into Alnylam’s market performance and future prospects. The stock, currently trading at $297.09, has demonstrated remarkable strength with a 95.23% return over the past year. According to InvestingPro data, seven analysts have recently revised their earnings expectations upward for the upcoming period.
During a visit to Alnylam’s headquarters, which included discussions with the company’s Chief Commercial Officer and Senior Vice President of Clinical Research, RBC Capital analysts gained a more optimistic outlook for the company’s quarterly performance. Although Alnylam did not confirm third-party data suggesting a significant uptick in revenue, they acknowledged the data might indicate a positive trend. The company also reported that the initial uptake of their product Amvuttra has surpassed expectations. More than half of the top 170 institutions managing the majority of TTR volume have already included Amvuttra in their formularies.
Alnylam’s executives highlighted that they are not encountering step-edits, particularly for Medicare patients who constitute approximately 80% of their patient base. Furthermore, there is an indication of combination use of their product, a detail corroborated by independent doctors.
The insights were complemented by a Key Opinion Leader (KOL) dinner, where a leading expert in transthyretin-mediated cardiomyopathy (TTR-CM) shared his clinical experience. Having prescribed the treatment to a handful of patients, the KOL observed minimal resistance from payers and anticipates Alnylam’s strong performance in both second-line and first-line treatment settings. Specifically, the company is expected to dominate in cases where patients progress on a stabilizer and to perform well among patients with mixed phenotype or more severe disease.
The KOL’s long-term view suggests that in his practice, over the next five years, Alnylam could command a 60% share in the market, with Pfizer (NYSE:PFE) and BridgeBio Pharma (NASDAQ:BBIO) accounting for 30% and 10%, respectively. This optimistic outlook aligns with the company’s strong financial health score of 2.8 (rated as GOOD) on InvestingPro, supported by robust revenue growth of 17.21% in the last twelve months.
RBC Capital’s report also touched on the valuation debates surrounding Alnylam but posited that the company stands out in a challenging biotech market. With a market capitalization of $38.42 billion and trading near its 52-week high of $304.39, InvestingPro analysis suggests the stock is currently slightly overvalued. Nevertheless, Alnylam’s promising outlook is supported by its significant market opportunity, anticipated profitability within the current year, and a robust platform that has seen the approval of seven drugs in as many years. For deeper insights into Alnylam’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Alnylam Pharmaceuticals has been the focus of several significant developments. The company reported approval of a Certificate of Amendment to its Restated Certificate of Incorporation, enabling officer exculpation, following its 2025 Annual Meeting of Stockholders. During the meeting, stockholders re-elected four Class III directors and ratified PricewaterhouseCoopers LLP as the independent auditors for the fiscal year ending December 31, 2025. Additionally, Alnylam’s stockholders approved the Second Amended and Restated 2018 Stock Incentive Plan and endorsed the compensation of the company’s named executive officers.
In terms of financial outlook, JPMorgan has maintained an Overweight rating on Alnylam with a price target of $330, reflecting confidence in the company’s product Amvuttra and its potential strong performance in the second quarter. Stifel also maintained a Buy rating with a price target of $345, expressing optimism about Amvuttra’s competitive positioning and its potential as a first-line therapy for cardiomyopathy. Alnylam will present new data from its transthyretin amyloidosis programs at the Heart Failure 2025 Congress, including findings from the HELIOS-B Phase 3 study on vutrisiran, which has already gained approvals in the U.S. and Brazil.
These recent developments illustrate Alnylam’s ongoing efforts in expanding its portfolio and aligning with stockholder interests. The company’s presentation at the Heart Failure 2025 Congress will also include insights into the TRITON-CM Phase 3 study of nucresiran, a next-generation TTR silencer. These activities highlight Alnylam’s strategic moves in the RNA interference therapeutics field.
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