Alnylam Pharmaceuticals Starts 2023 With In-Line Revenue And A Full Slate Of Clinical Read-Outs

This will be another busy year for Alnylam Pharmaceuticals (NASDAQ:ALNY), as this leading RNAi biotech expects to release clinical updates on five different clinical programs, in addition to anticipated updates from partnered programs and multiple potential IND filings. Though the company has a relatively thin late-stage pipeline, positive early-stage updates from programs with large addressable markets could be enough to maintain a positive level of investor enthusiasm.

Alnylam shares have continued to outperform since my last update, besting the SPDR S&P Biotech ETF (XBI) by about 10%. Some minor adjustments to my model take my fair value above $240, and while that isn’t especially robust return potential given the risks with biotech investing, I would note that clinical and regulatory milestones during the year could meaningfully add to that fair value. Still, I would characterize today’s price more as “good, not great”, even though I am a big believer in the company and its core technologies. 

 

Follow this link to the full article: 

 Alnylam Pharmaceuticals Starts 2023 With In-Line Revenue And A Full Slate Of Clinical Read-Outs

Alnylam Pharmaceuticals Offers Proven, Undervalued RNAi Platform, But Doubts Around ATTR Program Remain

Alnylam Pharmaceuticals (NASDAQ:ALNY) has built a solid base for itself with multiple product approvals in recent years, but there is still work to be done – de-risk the opportunity for Onpattro in TTR amyloidosis with cardiomyopathy (or ATTR-CM), deliver strong HELIOS-B data, and continue to deliver promising new compounds from the company’s ongoing clinical projects.

Since my last update, Alnylam shares are down about 8%, but have kept pace with the SPDR S&P Biotech ETF (XBI), and over the past year, the shares have significantly outperformed that biotech ETF (+28% versus -35%). With a fair value in the $225 - $240 range by my valuation approaches, I still believe this is a biotech worth owning.

 

Read more here: 

Alnylam Pharmaceuticals Offers Proven, Undervalued RNAi Platform, But Doubts Around ATTR Program Remain

APOLLO Hits A Bullseye, And Alnylam Logs Another Major Clinical Win

Alnylam Pharmaceuticals (NASDAQ:ALNY) has already built an enviable record of clinical trial wins, and the company added another to the record books on August 3, with the news of success in the APOLLO-B study of patisiran (marketed as Onpattro).

The APOLLO-B study wasn't a make-or-break trial for Alnylam, but it was nevertheless a highly significant, high-risk/high-reward study for this leader in RNAi biotechnology. This successful outcome, assuming eventual FDA approval in 2023, brings substantially more addressable revenue into play with a market (hereditary ATTR amyloidosis characterized by cardiomyopathy, or hATTR-CM) that is at least 2x and quite possibly 3x or larger than the current hATTR polyneuropathy market that Onpattro serves.

I was already relatively bullish on Alnylam going into this trial read-out, so the impact to my fair value is perhaps less dramatic than for other analysts, but with a fair value of around $230 and multiple clinical read-outs over the next two years that could unlock more value, I believe these are still shares worth owning for investors willing and able to take the elevated risk that goes with biotech investing.

 

Read the full article here: 

APOLLO Hits A Bullseye, And Alnylam Logs Another Major Clinical Win

Alnylam Pharmaceuticals Heading Toward A Key Trial Read-Out

Any day now Alnylam Pharmaceuticals (NASDAQ:ALNY) investors will get a key piece of information – the efficacy of its key drug Onpattro in the treatment of hereditary ATTR amyloidosis (or hATTR) characterized by cardiomyopathy (or hATTR-CM). Success in the APOLLO-B study could more than quadruple sales of this drug, not to mention presage successful outcomes for the HELIOS-B study of follow-on compound Amvuttra (vutrisiran), while failure would represent a significant risk to the share price and future value of the ATTR franchise.

The data that management have presented over the years suggest that Onpattro should hit the mark in APOLLO-B, but there’s a reason that the FDA and clinicians insist on clinical trials and prior signals of efficacy and post-hoc analyses aren’t substitutes for a positive statistically-significant outcome. I believe that Alnylam shares are meaningfully undervalued below $200/share, but investors buying in ahead of the APOLLO-B data must appreciate the risk of a sharp correction if the study results don’t live up to expectations.

 

Continue reading here: 

Alnylam Pharmaceuticals Heading Toward A Key Trial Read-Out

Alnylam Stock: Undervalued, Heading Into A Catalyst-Rich Year

 

It’s been a more challenging market of late for the shares of Alnylam Pharmaceuticals (ALNY), a well-established specialist in RNA interference (or RNAI) technology. Between the unexpected resignation of a long-serving and well-regarded CEO and a rival’s clinical failure (which some investors believe speaks to risks in Alnylam’s pipeline), the shares are down about 28% since my last update, though truthfully that’s not so bad in the context of similar declines in the iShares Nasdaq Biotechnology ETF (IBB) and/or SPDR S&P Biotech ETF (XBI).

I believe Alnylam is coming up to multiple thesis-altering clinical readouts over the next twelve months, and today’s valuation does not seem to give adequate credit to the stock for the potential of these programs. Of course, where stocks (and biotech stocks in particular) are concerned, “potential” only gets so far, and investors need to see several of these read-outs go Alnylam’s way to unlock more value over the next 12 months.

 

Read the full article here: 

Alnylam Stock: Undervalued, Heading Into A Catalyst-Rich Year

Alnylam Executing To Plan, But Catalysts Could Be Harder To Find In The Near Future

 

RNA interference (or RNAi) specialist Alnylam Pharmaceuticals (ALNY) has held up okay in what has been a tougher tape for biotech, with the shares down about 5% since my last update versus a 15% decline for the SPDR S&P Biotech ETF (XBI). Since that last article, Alnylam has posted a couple of good quarters, as well as some positive incremental data on significant clinical programs.

Alnylam is likely going to find itself in a “hurry up and wait” trading pattern for a few quarters, and that can be tough for the share price. Key data on the amyloidosis program won’t be coming until 2022, and early-stage updates on other clinical programs aren’t likely to move the shares all that much one direction or another.

I do believe, though, that these shares are more than 20% undervalued today, and there are numerous early-stage clinical programs that could drive substantially higher value as they mature (assuming clinical success, of course). There are risks here, including clinical trial failure and competitive drug development, but I believe Alnylam still ranks as a high-quality biotech idea.

 

Click the link to continue reading: 

Alnylam Executing To Plan, But Catalysts Could Be Harder To Find In The Near Future