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Here's Why You Should Add ALNY Stock to Your Portfolio Right Now
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Alnylam Pharmaceuticals (ALNY - Free Report) focuses on developing novel therapeutics based on RNAi technology. The company’s pipeline of experimental RNAi therapeutics is focused on three strategic therapeutic areas — genetic medicines, cardio-metabolic disease and hepatic infectious disease. Alnylam’s marketed portfolio of drugs comprises Amvuttra (vutrisiran), Givlaari (givosiran), Oxlumo (lumasiran) and Onpattro (patisiran).
Let’s delve deeper to discuss four reasons why adding Alnylam stock to your portfolio may prove beneficial in 2024.
ALNY’s Portfolio of Marketed Drugs Boost Revenues
Amvuttra, the company’s lead drug, is approved in the United States and EU for the treatment of adult patients with polyneuropathy of hereditary transthyretin-mediated (hATTR) amyloidosis. The drug’s sales contribute significantly to ALNY’s top line. Amvuttra generated sales worth $425.4 million in the first half of 2024, up 82% year over year on a reported basis. The encouraging uptake of the drug is driven by new patients starting treatment as well as patients switching from Onpattro. Notably, Onpattro is approved in the United States and EU to treat hATTR amyloidosis in adults.
In 2019, the FDA approved Givlaari for acute hepatic porphyria. In 2020, the FDA approved Oxlumo injection for subcutaneous use for the treatment of primary hyperoxaluria type 1 to lower urinary and plasma oxalate levels in pediatric and adult patients.
Alnylam also markets a fifth drug, Leqvio (inclisiran), in collaboration with Novartis (NVS - Free Report) to treat hypercholesterolemia in the EU. In the United States, it is approved to reduce low-density lipoprotein cholesterol (LDL-C) with two doses per year. Per the agreement, Alnylam has granted Novartis exclusive and worldwide rights to manufacture and commercialize RNAi therapeutics targeting PCSK9 for treating hypercholesterolemia and other human diseases, including Leqvio. Novartis has also received FDA approval to expand Leqvio’s label to include earlier use in patients with elevated LDL-C who have an increased risk of heart disease, as an adjunct to diet and statin therapy.
ALNY’s Pipeline Development Programs Hold Potential
Apart from its marketed portfolio of drugs, Alnylam also has an impressive clinical-stage pipeline.
The company is currently working on expanding Amvuttra’s label. In June 2024, Alnylam reported the success of its phase III HELIOS-B study evaluating Amvuttra for the treatment of patients with ATTR amyloidosis with cardiomyopathy. Based on the results, the company is gearing up to proceed with global regulatory submissions starting later in 2024. If approved, the label expansion will increase the eligible patient population for the drug, which will further boost its sales.
Among other candidates under development in Alnylam’s pipeline, the interesting ones include cemdisiran, mivelsiran and zilebesiran.
Alnylam and its partner, Regeneron (REGN - Free Report) , are developing a cemdisiran and pozelimab combination in late-stage studies for treating myasthenia gravis and paroxysmal nocturnal hemoglobinuria. ALNY is also developing cemdisiran as a monotherapy, which is currently phase III ready for the treatment of IgA nephropathy. Per the modified agreement with Regeneron, signed in June 2024, Alnylam granted exclusive rights to Regeneron to develop cemdisiran as monotherapy for complement-mediated indications.
ALNY is developing another candidate, mivelsiran (formerly ALN-APP), for treating early-onset Alzheimer’s disease and cerebral amyloid angiopathy. ALNY gained full global development and commercialization rights to mivelsiran in all indications, after Regeneron opted out of further co-development and co-commercialization of mivelsiran. REGN will be eligible to receive low double-digit royalties on sales of mivelsiran if approved.
Last year, the company entered into a strategic collaboration with Roche (RHHBY - Free Report) to co-develop and co-commercialize zilebesiran to treat hypertension. The total value of the zilebesiran deal with Roche is approximately $2.8 billion. ALNY and RHBBY have already reported the results of their KARDIA-1 and KARDIA-2 studies, which reaffirm the effectiveness of zilebesiran and its potential to be a best-in-disease treatment providing transformational benefit in patients with hypertension at high cardiovascular risk. Alnylam and Roche have also initiated a third phase II study (KARDIA 3) to evaluate the efficacy of zilebesiran when added to two or more hypertension medications in people with uncontrolled hypertension who are at high cardiovascular risk.
ALNY Stock Outperforms the Industry, Sector & the S&P 500
Alnylam shares soared 44.2% in the year-to-date period against the industry’s 1.2% decline. ALNY has also outperformed the sector and the S&P 500 during the same period, as seen in the chart below.
Image Source: Zacks Investment Research
Alnylam’s Constantly Rising Estimates
The Zacks Consensus Estimate for ALNY’s 2024 loss per share has narrowed from $1.20 to 63 cents over the past 60 days. During the same time frame, the estimate for ALNY’s 2025 loss per share has narrowed from 34 cents to 26 cents.
Image Source: Zacks Investment Research
How to Play ALNY Stock?
In the past five years, Alnylam has skyrocketed more than 250%, which has immensely boosted shareholder value. The company has significant potential for further growth in the quarters ahead, fueled by the strong uptake of its marketed drugs, Amvuttra, Givlaari and Oxlumo. The company has also been generating significant collaboration revenues from its ongoing agreements with several large-cap pharma companies.
Consistently rising earnings estimates highlight analysts’ optimistic outlook for further growth.
Therefore, despite the high reliance on partnerships for collaboration revenues and significant competition in the RNA-based drugs market, Alnylam’s deep pipeline is expected to provide the company with an edge over its competitors. Potential label expansion of Amvuttra and the successful development of other pipeline candidates are likely to boost the stock. Based on the above discussion, investors should consider investing in this Zacks Rank #1 (Strong Buy) stock. You can see the complete list of today’s Zacks #1 Rank stocks here.
Image: Bigstock
Here's Why You Should Add ALNY Stock to Your Portfolio Right Now
Alnylam Pharmaceuticals (ALNY - Free Report) focuses on developing novel therapeutics based on RNAi technology. The company’s pipeline of experimental RNAi therapeutics is focused on three strategic therapeutic areas — genetic medicines, cardio-metabolic disease and hepatic infectious disease. Alnylam’s marketed portfolio of drugs comprises Amvuttra (vutrisiran), Givlaari (givosiran), Oxlumo (lumasiran) and Onpattro (patisiran).
Let’s delve deeper to discuss four reasons why adding Alnylam stock to your portfolio may prove beneficial in 2024.
ALNY’s Portfolio of Marketed Drugs Boost Revenues
Amvuttra, the company’s lead drug, is approved in the United States and EU for the treatment of adult patients with polyneuropathy of hereditary transthyretin-mediated (hATTR) amyloidosis. The drug’s sales contribute significantly to ALNY’s top line. Amvuttra generated sales worth $425.4 million in the first half of 2024, up 82% year over year on a reported basis. The encouraging uptake of the drug is driven by new patients starting treatment as well as patients switching from Onpattro. Notably, Onpattro is approved in the United States and EU to treat hATTR amyloidosis in adults.
In 2019, the FDA approved Givlaari for acute hepatic porphyria. In 2020, the FDA approved Oxlumo injection for subcutaneous use for the treatment of primary hyperoxaluria type 1 to lower urinary and plasma oxalate levels in pediatric and adult patients.
Alnylam also markets a fifth drug, Leqvio (inclisiran), in collaboration with Novartis (NVS - Free Report) to treat hypercholesterolemia in the EU. In the United States, it is approved to reduce low-density lipoprotein cholesterol (LDL-C) with two doses per year. Per the agreement, Alnylam has granted Novartis exclusive and worldwide rights to manufacture and commercialize RNAi therapeutics targeting PCSK9 for treating hypercholesterolemia and other human diseases, including Leqvio. Novartis has also received FDA approval to expand Leqvio’s label to include earlier use in patients with elevated LDL-C who have an increased risk of heart disease, as an adjunct to diet and statin therapy.
ALNY’s Pipeline Development Programs Hold Potential
Apart from its marketed portfolio of drugs, Alnylam also has an impressive clinical-stage pipeline.
The company is currently working on expanding Amvuttra’s label. In June 2024, Alnylam reported the success of its phase III HELIOS-B study evaluating Amvuttra for the treatment of patients with ATTR amyloidosis with cardiomyopathy. Based on the results, the company is gearing up to proceed with global regulatory submissions starting later in 2024. If approved, the label expansion will increase the eligible patient population for the drug, which will further boost its sales.
Among other candidates under development in Alnylam’s pipeline, the interesting ones include cemdisiran, mivelsiran and zilebesiran.
Alnylam and its partner, Regeneron (REGN - Free Report) , are developing a cemdisiran and pozelimab combination in late-stage studies for treating myasthenia gravis and paroxysmal nocturnal hemoglobinuria. ALNY is also developing cemdisiran as a monotherapy, which is currently phase III ready for the treatment of IgA nephropathy. Per the modified agreement with Regeneron, signed in June 2024, Alnylam granted exclusive rights to Regeneron to develop cemdisiran as monotherapy for complement-mediated indications.
ALNY is developing another candidate, mivelsiran (formerly ALN-APP), for treating early-onset Alzheimer’s disease and cerebral amyloid angiopathy. ALNY gained full global development and commercialization rights to mivelsiran in all indications, after Regeneron opted out of further co-development and co-commercialization of mivelsiran. REGN will be eligible to receive low double-digit royalties on sales of mivelsiran if approved.
Last year, the company entered into a strategic collaboration with Roche (RHHBY - Free Report) to co-develop and co-commercialize zilebesiran to treat hypertension. The total value of the zilebesiran deal with Roche is approximately $2.8 billion. ALNY and RHBBY have already reported the results of their KARDIA-1 and KARDIA-2 studies, which reaffirm the effectiveness of zilebesiran and its potential to be a best-in-disease treatment providing transformational benefit in patients with hypertension at high cardiovascular risk. Alnylam and Roche have also initiated a third phase II study (KARDIA 3) to evaluate the efficacy of zilebesiran when added to two or more hypertension medications in people with uncontrolled hypertension who are at high cardiovascular risk.
ALNY Stock Outperforms the Industry, Sector & the S&P 500
Alnylam shares soared 44.2% in the year-to-date period against the industry’s 1.2% decline. ALNY has also outperformed the sector and the S&P 500 during the same period, as seen in the chart below.
Image Source: Zacks Investment Research
Alnylam’s Constantly Rising Estimates
The Zacks Consensus Estimate for ALNY’s 2024 loss per share has narrowed from $1.20 to 63 cents over the past 60 days. During the same time frame, the estimate for ALNY’s 2025 loss per share has narrowed from 34 cents to 26 cents.
Image Source: Zacks Investment Research
How to Play ALNY Stock?
In the past five years, Alnylam has skyrocketed more than 250%, which has immensely boosted shareholder value. The company has significant potential for further growth in the quarters ahead, fueled by the strong uptake of its marketed drugs, Amvuttra, Givlaari and Oxlumo. The company has also been generating significant collaboration revenues from its ongoing agreements with several large-cap pharma companies.
Consistently rising earnings estimates highlight analysts’ optimistic outlook for further growth.
Therefore, despite the high reliance on partnerships for collaboration revenues and significant competition in the RNA-based drugs market, Alnylam’s deep pipeline is expected to provide the company with an edge over its competitors. Potential label expansion of Amvuttra and the successful development of other pipeline candidates are likely to boost the stock. Based on the above discussion, investors should consider investing in this Zacks Rank #1 (Strong Buy) stock. You can see the complete list of today’s Zacks #1 Rank stocks here.
Alnylam Pharmaceuticals, Inc. Price and Consensus
Alnylam Pharmaceuticals, Inc. price-consensus-chart | Alnylam Pharmaceuticals, Inc. Quote