Good MorningEquity markets tried to build on the previous week's strength, but the gains were fleeting. The S&P 500 closed with a small daily gain but aligned with recent highs. The move suggests a lack of momentum and increasing resistance to higher prices that may cap gains for the remainder of the summer. The CPI report was good but aligned with the outlook for FOMC rate cuts that are already priced into the market. There is a high risk that it will be a sell-the-news event, and a stock market price correction will soon follow.
The S&P 500 may not fall far. The outlook for earnings growth remains robust, and with interest rates set to drop, strength will bleed into a broader array of sectors. In this scenario, a market correction is a buy-the-dip opportunity leading to another multi-quarter rally for the index. Featured: Amazon coin set to soar 25X – starting July 22nd (True Market Insiders) ![bolt](https://www.marketbeat.com/images/earlybird/flash.png)
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NVIDIA Corp. (NASDAQ: NVDA) continues to be one of the best-performing stocks in 2024. At a split-adjusted price of $129.71, NVDA stock is up 160% in 2024. However, NVIDIA’s coattails appear to be fairly short. The market growth is limited to a relatively narrow range of stocks, mostly in la... Read the Full Story |
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The iShares Russell 2000 ETF (NYSE: IWM) experienced a significant breakout above multi-year resistance last week, sparked by the release of the CPI inflation data on Thursday. This move was one of the most eye-opening events of the week, drawing significant attention to small-cap stocks.
IWM's I... Read the Full Story |
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Ford Motor Company (NYSE: F) is navigating a significant transformation as the automotive sector transitions from gas power and embraces the electric vehicle (EV) future. This shift has led many investors and Ford Motor’s analyst community to wonder if now is the time to buy Ford Motor sto... Read the Full Story |
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International Gaming Technology PLC (NYSE: IGT) provides worldwide electronic gambling, gaming, and lottery products and services. It’s well known for providing most of the slot machines in Las Vegas in the pre-pandemic era. The company has expanded to include digital games through its Pla... Read the Full Story |
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Solid-state battery technology company QuantumScape Co. (NYSE: QS) stock awakened, jumping nearly 46% on news of a new agreement with PowerCo, a subsidiary of Volkswagen AG (OTCMKTS: VWAGY). QuantumScape received much hype and fanfare in 2021 regarding its solid-state lithium-metal battery techn... Read the Full Story |
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Markets | | British luxury fashion house Burberry said Monday it has appointed Joshua Schulman, formerly head of Michael Kors and Coach, as its new chief executive officer as the company warned it expected to record an operating loss in the first half of the year amid slumping retail sales. Burberry said Schulm... Read the Full Story |
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Markets | | UnitedHealth topped second-quarter forecasts but remains cautious about the year as it continues to eat costs from a massive cyberattack and deals with rising medical expenses.The health care giant on Tuesday said it was sticking with an earnings forecast for 2024 it first laid out last fall that in... Read the Full Story |
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Markets | | Macy's is terminating its monthslong buyout talks with two investment firms, citing a substandard offer and the lack of certainty over financing. In announcing the end of negotiations on Monday, Macy’s alleged that Arkhouse Management and Brigade Capital Management did not meet its request for infor... Read the Full Story |
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Markets | | Thailand’s prime minister has said that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy Read the Full Story |
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Markets | | Goldman Sachs is posting a 150% jump in second quarter profits Monday, helped by a resurgence of dealmaking and underwriting that has revived investment banking after the slowdown of the previous couple years.The New York investment bank posted net earnings of $3.04 billion, $8.62 per share, compare... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Alnylam Pharmaceuticals, Inc., a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1. In addition, the company develops patisiran for the treatment of transthyretin amyloidosis, or ATTR amyloidosis, with cardiomyopathy; cemdisiran to treat complement-mediated diseases; Belcesiran for the treatment of alpha-1 liver disease; Elebsiran to treat chronic HBV infection; Zilebesiran to treat hypertension; ALN-APP to treat Alzheimer's disease and cerebral amyloid angiopathy; and ALN-HSD to treat NASH. Further, it offers Fitusiran for the treatment of hemophilia, Inclisiran to treat hypercholesterolemia, lumasiran for the treatment of advanced PH1, and vutrisiran for the treatment of ATTR amyloidosis, which is in phase 3 clinical trial. Alnylam Pharmaceuticals, Inc. has strategic collaborations with Regeneron Pharmaceuticals, Inc. to discover, develop, and commercialize RNAi therapeutics for a range of diseases by addressing therapeutic targets expressed in the eye and CNS; and Roche to develop pharmaceutical products containing zilebesiran. It also has license and collaboration agreements with Novartis AG; Vir Biotechnology, Inc.; Dicerna Pharmaceuticals, Inc.; Ionis Pharmaceuticals, Inc.; and PeptiDream, Inc. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts. | Should I Buy Alnylam Pharmaceuticals Stock? ALNY Pros and Cons Explained
These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Alnylam Pharmaceuticals was last updated on Sunday, August 25, 2024 at 10:56 PM.
Pros-
Alnylam Pharmaceuticals stock price has been on an upward trend, reaching $272.05 on the latest trading day, indicating positive market sentiment.
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The company has a diverse portfolio of marketed products including ONPATTRO, AMVUTTRA, GIVLAARI, and OXLUMO, catering to different medical conditions, which can provide stable revenue streams.
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Alnylam Pharmaceuticals has received favorable ratings from multiple analysts, with an average target price of $269.32, suggesting potential for stock price appreciation.
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The company's market capitalization of $34.41 billion reflects its strong position in the biopharmaceutical industry, indicating stability and growth potential.
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Recent research reports have highlighted Alnylam Pharmaceuticals as a "Moderate Buy" with analysts projecting positive outlooks, making it an attractive investment opportunity.
Cons-
Alnylam Pharmaceuticals stock has a high P/E ratio of -101.51, indicating that the company may be overvalued compared to its earnings, posing a risk for investors.
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The stock's beta of 0.37 suggests lower volatility compared to the market average, potentially limiting short-term trading opportunities for investors seeking higher returns.
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Despite positive analyst ratings, there is a potential downside of 14.35% from the previous close according to Wells Fargo & Company's price objective, signaling a short-term risk for investors.
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Alnylam Pharmaceuticals' 12-month high of $274.93 may indicate a near-term resistance level for the stock, potentially impacting its ability to continue its upward trajectory.
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Investors should consider the competitive landscape in the biopharmaceutical sector and potential regulatory challenges that could affect Alnylam Pharmaceuticals' future growth prospects.
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