Why Alnylam Pharmaceuticals Rose 57.9% in 2019
Shares of Alnylam Pharmaceuticals (NASDAQ: ALNY) jumped 57.9% last year, according to data provided by S&P Global Market Intelligence. That far exceeded the 28.8% gain of the S&P 500 in 2019, though all of the pharma stock's gains came in the fourth quarter.
It was quite the finish considering that the stock got off to a rocky start, collapsing in May after first-quarter 2019 operating results were released. At the time, Alnylam Pharmaceuticals also announced plans to increase research and development spending, which made investors nervous. Could the money-losing business justify that decision with only one drug on the market? Those concerns were short-lived, however, as the company exited the year with two approved drug products, and one or two more headed toward approval in 2020.
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Source Fool.com
