Get Familiar With This Pharma Stock Before Their REVOLUTIONARY New Drug Hits The Market

A promising heart medication may also be great news for investors. Alnylam Pharmaceuticals (NASDAQ: ALNY) saw its stock surge 34.5% on Monday following positive results from a study of their experimental heart disease treatment, Vutrisiran. The study focused on patients with ATTR amyloidosis with cardiomyopathy, a condition where abnormal protein buildup damages the heart. These results showed a 36% reduction in death across all patients and could position this drug as a first-line treatment. The market result? ALNY shares broke out of a half-year consolidation with their prior buy point of $199.38. BridgeBio (BBIO) is a competitor also working on a treatment for this condition—its shares sank 15.9% to $23.

Who Is Alnylam?

Based in Cambridge, Massachusetts, Alnylam Pharmaceuticals is a biopharmaceutical firm that discovers and develops drugs based on RNA interference (RNAi) therapeutics. After discovering that a particular gene contributes to or causes a disease, this cellular mechanism uses the DNA sequence of a gene to turn it off. This procedure helps those who have limited treatment options. Alnylam’s corporate strategy, which is patient-centric, is to open new horizons with RNAi innovation. These gene-silencing treatments are designed for both rare diseases and common ones. Their business development team drives this vision through new partnerships and licensing deals. The company’s annual revenue for 2023 was $1.828B. This was a 76.23% increase from the prior year.   

Why Their Drug Could Be A Gamechanger

FDA approval can take as long as 10 months; however, priority drugs can be approved within six months. Analysts view the results positively, with some maintaining outperform ratings on Alnylam stock. The success of vutrisiran could challenge Pfizer's Vyndamax, which currently generates around $4.5 billion in annual sales. Myles Minter of William Blair calls the study results a “best-case scenario.” Mani Foroohar at Leerink Partners points out that the treatment was found to be both effective and safe. Based on 26 analysts, ALNY has a Strong Buy rating and an average 12-month target price of $251.74. The stock may be on track to beat that. As of Wednesday, it was trading at $247.34.

Neither Julie Stoller nor Stocks.News have positions in this company.