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On Monday, Redburn-Atlantic initiated coverage on Alnylam Pharmaceuticals , assigning a Buy rating to the company’s shares. The research firm set a price target of $353.00 for the biopharmaceutical firm, which represents a 30% potential increase from its current stock price. According to InvestingPro data, this target aligns with the company’s strong momentum, as reflected in its impressive 79.63% return over the past year.
Alnylam Pharmaceuticals, traded on (NASDAQ:ALNY), has been recognized by Redburn-Atlantic for pioneering the field of siRNA therapies. With a market capitalization of $34.75 billion and an impressive gross profit margin of 85.62%, the company has successfully secured approval for five drugs that treat a variety of rare diseases. The recent approval of Amvuttra on March 20 has garnered significant investor attention due to its broader-than-anticipated label and the company’s decision to maintain pricing at the level of the previous approval, which was unexpected by the market. InvestingPro analysis reveals 8 additional key insights about ALNY’s financial health and growth prospects.
The analyst at Redburn-Atlantic, Joshua Smith, expressed optimism about Alnylam’s future, particularly with regard to the launch of Amvuttra for ATTR-CM, a condition associated with the heart. The firm anticipates that the most significant catalyst for Alnylam in 2025 will be the progress of Amvuttra’s launch. Although concrete data is expected to be available with the third quarter earnings, there might be earlier qualitative indicators from the second quarter results.
The coverage launch by Redburn-Atlantic reflects a positive outlook for Alnylam’s stock, as the analyst’s commentary highlights the company’s innovative role in the pharmaceutical industry and its promising drug approvals. The endorsement from the research firm comes at a time when the company is experiencing pivotal developments in its product pipeline and commercial strategy.
In other recent news, Alnylam Pharmaceuticals has received FDA approval for Qfitlia, a treatment for hemophilia A or B, marking a significant milestone as it is the first RNAi therapeutic approved for this condition. The approval allows the drug to be used for routine prophylaxis to reduce bleeding episodes in patients aged 12 and older. In addition to this development, Alnylam’s Amvuttra has also gained FDA approval for treating ATTR amyloidosis with cardiomyopathy, with analysts from RBC Capital and H.C. Wainwright expressing optimism about its market potential. RBC Capital maintains an Outperform rating with a $330 price target, while H.C. Wainwright holds a Buy rating with a $500 target, highlighting the drug’s promising study results and market opportunity.
JPMorgan has upgraded Alnylam’s stock rating from Neutral to Overweight, raising the price target to $328, reflecting confidence in the company’s prospects in the transthyretin amyloidosis market. Meanwhile, Bernstein analysts continue to rate Alnylam as Outperform with a $305 target, despite some skepticism from experts about the superiority of Amvuttra over competing drugs. These recent developments underscore Alnylam’s strong position in the market, with several analysts indicating a positive outlook for the company’s growth and product adoption.
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