Alnylam Shares Surge on $730M Volume After FDA Approval Boosts Market Outlook and Analysts Raise Targets

Alnylam Pharmaceuticals (ALNY) rose 1.77% on August 18, 2025, with a trading volume of $730 million, up 129.95% from the previous day. The stock’s recent performance follows a pivotal FDA approval for Amvuttra (vutrisiran) to treat transthyretin-mediated amyloidosis (ATTR-CM) on March 20, 2025, expanding its therapeutic footprint and differentiating it from competitors with a label emphasizing cardiovascular mortality reduction. Analysts have revised price targets upward, with recent upgrades from H.C. Wainwright ($570) and J.P. Morgan ($475), reflecting confidence in the drug’s market potential and the company’s pipeline.

Alnylam’s financials highlight a mixed landscape. While Q2 2025 revenue reached $469 million, driven by $359 million in ATTR-related sales, the company reported a net loss of $0.32 per share. Despite this, gross profit margins remain strong at 83.64%, and liquidity metrics, including a current ratio of 2.8, suggest resilience. The ATTR-CM market, valued at over $6 billion, remains a focal point, with Amvuttra projected to capture a significant share as newly diagnosed patients transition from therapies like Pfizer’s Vyndamax. Analysts estimate Amvuttra sales could reach $6.9 billion by 2035, underpinned by its quarterly dosing regimen and clinical differentiation.

Risks persist, however. The company’s premium pricing strategy for Amvuttra ($480,000 annually) may face reimbursement hurdles, particularly with commercial insurers. Intensifying competition from BridgeBio’s Attruby and Pfizer’s Vyndamax could pressure market share, especially as real-world data on efficacy and safety evolve. Additionally, Alnylam’s debt-to-equity ratio of 4.10 and ongoing R&D investments pose near-term profitability challenges. Despite these headwinds, institutional ownership remains robust, with 93% held by funds, and analysts maintain a “Moderate Buy” consensus, citing long-term growth in rare disease therapeutics.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to now delivered moderate returns. The 1-day return was 0.98%, with a total return of 31.52% over 365 days. This indicates the strategy captured some short-term momentum but also reflected market volatility and potential timing risks.