Is Alnylam Pharmaceuticals, Inc. (ALNY) the Best Performing Biotech Stock in 2024?

Insider Monkey2024-12-23

We recently compiled a list of the 10 Best Performing Biotech Stocks in 2024. In this article, we are going to take a look at where Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) stands against the other...

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(ALNY) the Best Performing Biotech Stock in 2024?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-23 23:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/alnylam-pharmaceuticals-inc-alny-best-150907742.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We recently compiled a list of the 10 Best Performing Biotech Stocks in 2024. In this article, we are going to take a look at where Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) stands against the other...</p>\n\n<a href=\"https://finance.yahoo.com/news/alnylam-pharmaceuticals-inc-alny-best-150907742.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FT_SY_MNQ","symbol_name":"微型NQ100指数","start_time":0,"source_url":"https://finance.yahoo.com/news/alnylam-pharmaceuticals-inc-alny-best-150907742.html","article_id":"2493761282","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/0jgqfdrHQzF4OTQucn.1Aw--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/1994f7078bd8ae513263ce18e1f3af94"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2493761282","pubTimestamp":1734966547,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"We recently compiled a list of the 10 Best Performing Biotech Stocks in 2024.In this article, we are going to take a look at where Alnylam Pharmaceuticals, Inc.  stands against the other biotech stocks.Biotech businesses have been further challenged by volatile market conditions, which have led several of them to reduce programs and lay off huge numbers of employees to save money. Although recent rate cuts may assist in resurrecting scientific initiatives, analysts like Jared Holz point out that it is still challenging to forecast their consequences. Holz also points out that the performance of biotech companies is increasingly matching that of small-cap stocks, indicating a change in market dynamics. Biotech may increase if small-cap stocks trade well, but stagnation could result from momentum loss. Interest rates and biotech success have a relatively recent relationship that emerged after the pandemic when enterprises with a therape","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ALNY":"阿尔尼拉姆制药公司","TQQQ":"纳指三倍做多ETF","USJW.SI":"ALPHAB 3xLongSG261006","BK4585":"ETF&股票定投概念","BK4139":"生物科技","BK4159":"经销商","QID":"纳指两倍做空ETF","SQQQ":"纳指三倍做空ETF",".IXIC":"NASDAQ Composite","BK4588":"碎股","BK4548":"巴美列捷福持仓","PSQ":"纳指反向ETF","TSYW.SI":"TESLA 3xLongSG261006","NVIW.SI":"NVDA 3xLongSG261006","USAW.SI":"AMZN 3xLongSG261006","QLD":"纳指两倍做多ETF","CAGR":"California Grapes International, Inc."},"translate_title":"Alnylam Pharmaceuticals，Inc.(ALNY)是2024年表现最好的生物科技股吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ALNY":1,"CAGR":1,".IXIC":0.9,"USJW.SI":0.6,"USAW.SI":0.6,"TSYW.SI":0.6,"TQQQ":0.6,"SQQQ":0.6,"QLD":0.6,"QID":0.6,"PSQ":0.6,"NVIW.SI":0.6,"NQmain":0.6,"MNQmain":0.6},"content_text":"We recently compiled a list of the 10 Best Performing Biotech Stocks in 2024. In this article, we are going to take a look at where Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) stands against the other biotech stocks.\nThe Booming Biotechnology Sector\nThe biotechnology sector is expanding quickly due to rising demand for novel therapies, advancement in technology, and government assistance. New techniques are being made possible by advancements in fields like gene editing, sequencing, personalized medicine, and artificial intelligence, while the aging population and growing healthcare demands are driving a robust market for new treatments. Venture capital firms made approximately $52 billion in global investments in therapeutic-focused biotech companies between 2019 and 2021. Two-thirds of this sum was given to platform-tech start-up companies.\nThe worldwide biotechnology market was estimated to be valued at $1.38 trillion in 2023 and is projected to reach a valuation of approximately $4.25 trillion by 2033, growing at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2024.\nThe U.S. biotechnology sector, in particular, was estimated to be worth $246.18 billion last year and is projected to reach about $830.31 billion at a compound annual growth rate (CAGR) of 11.6% from 2024 to 2034, according to previous research. The revenue proportion for Asia Pacific was 23.99%, whilst the revenue share for North America was 37.79%. The bioindustry application segment accounted for 24.33% of total revenue in 2023, while the biopharmacy segment held a 41.73% revenue share by application. For 2023, the tissue engineering and regeneration market is expected to account for 19.26% of total revenue.\nDespite its potential, there are many risks associated with investing in biotech companies. With 90% of initiatives failing and drug development lasting more than ten years, the industry has a high failure rate. Businesses frequently face bankruptcy if they miss clinical trial endpoints or don't have enough money before launching a product. As a result of its significant risks and growth potential, biotech is commonly considered a \"high-risk, high-reward\" investment.\nChallenges and Opportunities Shaping the Future of Biotechnology\nBiotech businesses have been further challenged by volatile market conditions, which have led several of them to reduce programs and lay off huge numbers of employees to save money. Although recent rate cuts may assist in resurrecting scientific initiatives, analysts like Jared Holz point out that it is still challenging to forecast their consequences. Holz also points out that the performance of biotech companies is increasingly matching that of small-cap stocks, indicating a change in market dynamics. Biotech may increase if small-cap stocks trade well, but stagnation could result from momentum loss. Interest rates and biotech success have a relatively recent relationship that emerged after the pandemic when enterprises with a therapeutic focus received a lot of investment.\nBiotech companies are addressing significant unmet medical needs by developing novel therapies that are transforming healthcare. A major advancement is the creation of the National Bioeconomy Board as part of Biden's Investing in America plan. It aims to optimize the economic potential of biotechnology in the US.\nAdditionally, the National Security Commission on Emerging Biotechnology is developing policy recommendations to speed up the approval process for biotechnology products. Reducing barriers to entrance will enable more scholars to apply biotechnology to agriculture, which will help American farmers and improve food security. These projects are expected to create new markets.\nOur Methodology \nWe selected biotech companies with the best year-to-date (YTD) performance and a market cap of at least $10 billion. This ensured our focus on larger, established firms. The companies were then ranked by their YTD performance as of December 21st to highlight the top performers.\nWhy are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\n A researcher studying genetic medicines under a microscope in a biopharmaceutical laboratory. \nAlnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)\nTotal YTD Return: 25.91% \nAlnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is a biopharmaceutical company that utilizes RNA interference (RNAi) technology to develop therapies for rare genetic diseases. Its commercial products include ONPATTRO (patisiran) for hATTR amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, OXLUMO (lumasiran) for primary hyperoxaluria type 1, Leqvio (inclisiran) for hypercholesterolemia (licensed to Novartis), and AMVUTTRA (vutrisiran) for ATTR amyloidosis. The company sells its products to patients, healthcare providers, and pharmacies, and collaborates with pharmaceutical companies like Novartis for distribution and development.\nAlnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) revealed impressive financial results for the third quarter of 2024. The company's total product revenue reached $420 million, a 34% increase from the previous year. The TTR franchise brought in $309 million, a 34% increase in revenue, while the rare disease franchise brought in $111 million which indicated a similar growth rate. Growing patient demand, especially within the TTR franchise, was the main driver of the company's revenue growth.\nGlobally, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is treating about 5,000 patients with ONPATTRO or AMVUTTRA for hATTR polyneuropathy. However, according to the business, between 25,000 and 30,000 people worldwide are afflicted with this illness which suggests that there is room for substantial expansion. In addition, the company is getting ready for a possible launch in ATTR cardiomyopathy, subject to regulatory approval. The company's addressable market may rise considerably as a result of this development, which could spur further growth.\nWith several significant advancements, the corporation is moving forward with its pipeline. In both the US and the EU, it has finished submitting regulatory applications for vutrisiran in ATTR cardiomyopathy. Additionally, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) revealed encouraging findings from a Phase 1 study of mivelsiran for early-onset Alzheimer's disease and started a Phase 1 investigation for ALN-HTT02, which targets Huntington's disease. The company wants to greatly increase its clinical pipeline by filing nine own INDs and maybe 15 new INDs by the end of 2025, including partnered initiatives.\nThe stock has a consensus rating of Moderate Buy from street analysts, with an average 12-month price target of $313.81. The price target range, which is from $205.00 to $400.00, indicates a possible 28.14% increase from the stock's current price of $244.89.\nOverall ALNY ranks 8th on our list of the best performing biotech stocks in 2024. While we acknowledge the potential of ALNY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than ALNY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.   \nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock   \nDisclosure: None. This article is originally published at Insider Monkey.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2493761282"}