5 High Growth Healthcare Stocks to Buy

1. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Number of Hedge Fund Holders: 55

Massachusetts-based Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is involved in the discovery, development and commercialization of RNA interference therapeutics. In October, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) posted its Q3 results, according to which its revenues jumped about 41% in the quarter on a year-over-year basis to reach $264.31 million. However, the figure missed analyst estimates. In January, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) announced that its preliminary full year global net product revenues for its drugs Onpattro, Amvuttra, Givlaari and Oxlumo came in at $894 million. This shows a growth of about 35% on a YoY basis.

As of the end of the third quarter of 2022, 55 hedge funds in Insider Monkey’s database had stakes in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY). The total value of these stakes was over $1.1 billion.

Here is what Baron Funds specifically said about Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in its Q3 2022 investor letter:

“We initiated a position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), a commercial stage biopharmaceutical company which pioneered a new class of innovative medicines based on RNA interference (RNAi). This class of medicines acts by silencing the messenger RNA that encodes for the proteins that can cause disease, thereby preventing these disease-causing proteins from being made. Alnylam’s validated platform has demonstrated a higher probability of success in drug development versus the industry overall with five medicines approved in less than four years. During the quarter, the company reported positive results from its Apollo-B Phase 3 study of Patisiran in patients with ATTR Amyloidosis with Cardiomyopathy, a rare, progressively debilitating, and fatal disease caused by misfolded TTR proteins which accumulate as amyloid deposits in the heart, nerves, and GI tract. Alnylam also has multiple other late-stage medicines in the pipeline including a new blood pressure drug in Phase 2 studies that can potentially be delivered as a twice-yearly shot. Alnylam has an extensive intellectual property estate with fundamental RNAi technology, delivery, and productspecific protection, and is in a position to achieve sustainable profitability within the next few years.”

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