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Alnylam Pharmaceuticals (NASDAQ:ALNY) Inc. stock reached an all-time high of $427.0 USD, marking a significant milestone for the $55.8 billion market cap company. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $236 to $550. Over the past year, the stock has shown a remarkable 63.77% increase, reflecting strong investor confidence and positive market sentiment. While technical indicators suggest the stock is currently overbought, analysts expect the company to turn profitable this year. This impressive growth underscores the company’s robust performance and strategic advancements in the biopharmaceutical sector. The achievement of this all-time high highlights Alnylam’s successful trajectory and its potential for continued growth in the competitive landscape of pharmaceuticals. Access 16 additional exclusive insights and comprehensive analysis with InvestingPro.
In other recent news, Alnylam Pharmaceuticals reported impressive second-quarter earnings, surpassing analyst expectations. The company posted adjusted earnings of $0.32 per share, significantly outperforming the consensus estimate of -$0.59. Revenue for the quarter reached $773.7 million, which was well above the projected $643.2 million, with total net product revenues increasing by 64% year-over-year to $672.2 million. This growth was primarily driven by the strong performance of AMVUTTRA in treating ATTR cardiomyopathy. Additionally, Oppenheimer upgraded Alnylam’s stock rating from Perform to Outperform, highlighting stronger-than-expected sales of Amvuttra, which generated approximately $150 million in its first full quarter, far exceeding initial estimates. Wolfe Research also upgraded Alnylam from Underperform to Peerperform, noting improved patient acquisition capabilities. These developments reflect Alnylam’s recent achievements in both financial performance and market perception.
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