Alnylam Pharmaceuticals [NASDAQ:ALNY] stock Skyrocketing after the Product Approval

Robert Cieslak

Alnylam Pharmaceuticals [NASDAQ:ALNY] shares are now trading up over 30% since the company announced the Approval of GIVLAARI™ by the U.S. Food and Drug Administration (FDA) on 21st November and next day at R&D Event it also announced the 2020 Product and Pipeline Goals and presented updates.Alnylam PharmaceuticalsStock traded just -1.18% below its 52-week high price while it has been noted 96.75% away from low price over the last 52-weeks. The stock disclosed a move of 32.82% away from 50 day moving average and 45.03% away from 200 day moving average. Moving closer, we can see that shares have been trading 19.21% off 20-day moving average.

Following the recent bullish trend the RSI of the ALNY stock has climbed to 79.38 while normally if RSI of any stock stays above 70 then the stock used to be considered as overbought. Now it has market cap of $13.27 billion and the one-year revenue of the company is 169.10 million.

The leading RNAi therapeutics company announced a new and enhanced framework for value-based agreements (VBAs) designed to help patients with acute hepatic porphyria (AHP) – an ultra-rare orphan disease – gain access to GIVLAARI™ (givosiran) injection for subcutaneous use, a first-of-its-kind RNAi therapeutic for the treatment of AHP. Approved today by the U.S. Food and Drug Administration (FDA), GIVLAARI is indicated for the treatment of adults with AHP.

While at the R&D Day in New York City held on 22nd November the Company discussed its commercial and R&D progress, including its product and pipeline goals for 2020, focusing on the potential for global approval and/or commercialization of four RNAi therapeutic products and the advancement of six late-stage investigational programs.

Alnylam also reported that it has initiated HELIOS-B, a global Phase 3 placebo-controlled mortality and cardiovascular hospitalization trial with investigational vutrisiran in patients with ATTR amyloidosis with cardiomyopathy. In addition, the Company announced initial positive clinical data with ALN-AAT02, ALN-HBV02 (VIR-2218), and ALN-AGT, representing the first human proof of concept for Alnylam’s ESC+ GalNAc conjugate delivery technology – having the potential to enable greater target selectivity and a wider therapeutic index – and expansion of the Alnylam pipeline in highly prevalent chronic disease opportunities. 

In the latest analysts update as of November 20th of this year Oppenheimer has Initiated Alnylam Pharmaceuticals, Inc.stock as Outperform and set the Target Price of the shares $128 which is higher than the current share price of the ALNY stock. When looking at Mean Target Price expected by analysts ahead of 52-week period, the stock has mean recommendation to Buy and it may achieve $124.95 price which is slightly above than the current share price.

Stock of the Biotechnology company noticed change of 1.23% to $118.58 in along volume of 734,716 shares in recent session compared to an average volume of 722,780. The stock observed return of 10.92% in 5 days trading activity. The stock was at 36.71% over one-month performance. ALNY’s shares are at 45.03% for the quarter and driving a 47.10% of return over the course of the past year and is now at 62.64% since this point in 2019. 

The average volatility for the week at 3.78% and for month was at 4.00%. There are 111.89 million shares outstanding and 110.72 million shares are floated in market. Right now the stock beta is 2.47. 

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