On September 2, Alnylam Pharmaceuticals rose 5.22% in regular trading, trading at $259.3/share, with turnover of $193 million. The rally was driven by a combination of favorable analyst commentary and competitive headwinds facing rival therapies.

Oppenheimer recently published a research note stating that Alnylam's latest clinical data strengthen the case for success of its next-generation drug Nucresiran and the TRITON-CM clinical trial, supporting near-term upside for the stock. Concurrently, competitor Eplontersen's combination therapy data disappointed the market, which investors interpreted as reinforcing Alnylam's differentiated pipeline advantage in the transthyretin amyloidosis space.

The positive sentiment comes after a challenging period for the stock. In late July, Alnylam reported Q2 adjusted EPS of $1.84 that beat estimates, but lowered its full-year net product revenue guidance to a range of $4.70 billion to $5.10 billion from $4.90 billion to $5.30 billion, citing normalizing second-line Amvuttra demand. Shares had fallen over 22% on that guidance cut. RBC Capital Markets subsequently called the weakness overdone, maintaining an Outperform rating while trimming its price target to $350.

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