Alnylam Pharmaceuticals (NASDAQ:Arnie) was the best-performing large-cap ($30B+) pharmaceutical or biotech company in Q2, Return rate ~58.5% period.
The biotech’s strong results were significantly helped in late June when it reported pivotal trial results for vutrisiran, an ATTR amyloidosis treatment Suffering from cardiomyopathy, Sending stocks soared.
After the data was released, Seeking Alpha analyst Stephen Simpson wrote that the trial results significantly increased the company’s revenue opportunities. He gives Alnylam a fair value of $277 per share. The stock closed at $243 on June 28.
The second-best performing pharmaceutical or biotech company this quarter was Eli Lilly (NYSE: LLY), Up ~19.1%. The Indianapolis-based drugmaker benefited from increased sales of its GLP-1/GIP diabetes and weight loss drugs (Mounjaro and Zepbound, respectively), as well as an FDA advisory review of the Alzheimer’s drug in early June. Endorsement of donanemab.
Third place is AstraZeneca (NASDAQ: AZN), Up ~16%. The U.K.-based drugmaker was boosted in April by strong first-quarter financial results and a successful data readout for the full quarter.
Rounding out the top five is Moderna (NASDAQ: MRNA) and Novo Nordisk (NVO)’s earnings are: ~12.5% and ~11.9%.
Worst performing companies in Q2 dropped by approximately 21.6% It’s Bristol-Myers Squibb (BMY). The pharmaceutical company has been in trouble for some time, down about 35% In the past year. However, in a recently published analysis, Seeking Alpha Investment Group principal Danil Sereda wrote that despite issues related to upcoming patent expirations, Bristol has a strong product pipeline and pipeline, which bodes well for the future growth, but currently undervalued.
The second worst company is Amgen. Loss of about 10.4% during this quarter. Despite the disappointing results, investment group head Leo Nelissen remains bullish on the biotech company, citing its dividend and the strong performance of weight loss candidate MariTide (AMG 133).
GlaxoSmithKline (GSK) was the third worst performer, Down ~9.2% period. The stock was hammered in early June when a Delaware judge allowed more than 75,000 Zantac lawsuits to proceed.
Rounding out the bottom five are Johnson & Johnson (JNJ) and Gilead Sciences (GILD), which lost: ~7.4% and ~5.9% during this quarter.
