Alnylam Pharma’s Strong Market Position and Amvuttra’s Impressive Sales Growth Drive Buy Recommendation

Analyst Kostas Biliouris of BMO Capital maintained a Buy rating on Alnylam Pharma (ALNY – Research Report), retaining the price target of $300.00.

Kostas Biliouris has given his Buy rating due to a combination of factors influencing Alnylam Pharma’s market position and product performance. One of the key reasons is the significant increase in sales of Amvuttra, a drug recently approved for ATTR-CM, which showed a remarkable 42% week-over-week growth according to IQVIA data. This surge in sales suggests a strong market uptake and positions Amvuttra as a competitive player against existing drugs like Attruby.
Additionally, Biliouris highlights the potential for Amvuttra’s sales to exceed expectations, projecting over $300 million in U.S. sales for the second quarter, which is significantly higher than market consensus. The analyst also notes Alnylam’s robust and diverse RNAi portfolio, which includes multiple FDA/EMA-approved drugs and partnerships with blockbuster potential, further supporting the Buy recommendation.

In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $500.00 price target.