← Insmed overview

Insmed vs Alnylam Pharmaceuticals: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Insmed Inc (INSM)

Q3 2026
▲4

Insmed's Brinsupri Launch Accelerates, Peak-Sales Target Raised to $14B

  • Q2 loss narrows sharply, Brinsupri guidance raised Insmed's Q2 net loss shrank to $13.2 million from $321.7 million a year earlier, and product revenue nearly quadrupled to $425.5 million. Brinsupri sales hit $309.2 million, up 49% from the prior quarter, and management raised 2026 Brinsupri guidance to $1.25–$1.40 billion. The stock jumped 33% on the news.

    This is the period's biggest price-moving event and shows the core business is performing far better than expected.

  • Peak-sales estimate raised to over $14 billion Management now sees peak sales for its three lead programs exceeding $14 billion, a 75% increase. More than $7 billion is tied to already-launched Brinsupri, but over $6 billion depends on TPIP, which is still in Phase III trials for only two of four target indications. Insmed ended June with $1.2 billion in cash, enough to reach profitability in 2027 without raising capital.

    This gives investors a long-term growth target and shows the company can fund itself, but also flags the pipeline risk.

  • Positive 12-month TPIP data supports Phase 3 launch Insmed reported positive 12-month data for TPIP in pulmonary arterial hypertension, with sustained improvements in exercise capacity and no new safety signals. This supports launching the PALM-PAH Phase 3 trial. TPIP is a key part of the $6 billion-plus peak-sales opportunity that still needs late-stage success.

    It de-risks a major pipeline asset that underpins a large chunk of the raised peak-sales estimate.

  • EMBARC to run 3,000-patient brensocatib study The European bronchiectasis research group EMBARC will collaborate with Insmed on a 3,000-patient study of brensocatib (Brinsupri) across six countries. The study aims to show whether early treatment can change the disease course, which could expand use and strengthen the case for the drug beyond current approvals.

    It signals strong clinical interest and potential for broader use, supporting long-term demand for the main growth driver.

July 2026
▲4

Insmed's Brinsupri Launch Accelerates, Peak-Sales Target Raised to $14B

  • Q2 loss narrows sharply, Brinsupri guidance raised Insmed's Q2 net loss shrank to $13.2 million from $321.7 million a year earlier, and product revenue nearly quadrupled to $425.5 million. Brinsupri sales hit $309.2 million, up 49% from the prior quarter, and management raised 2026 Brinsupri guidance to $1.25–$1.40 billion. The stock jumped 33% on the news.

    This is the period's biggest price-moving event and shows the core business is performing far better than expected.

  • Peak-sales estimate raised to over $14 billion Management now sees peak sales for its three lead programs exceeding $14 billion, a 75% increase. More than $7 billion is tied to already-launched Brinsupri, but over $6 billion depends on TPIP, which is still in Phase III trials for only two of four target indications. Insmed ended June with $1.2 billion in cash, enough to reach profitability in 2027 without raising capital.

    This gives investors a long-term growth target and shows the company can fund itself, but also flags the pipeline risk.

  • Positive 12-month TPIP data supports Phase 3 launch Insmed reported positive 12-month data for TPIP in pulmonary arterial hypertension, with sustained improvements in exercise capacity and no new safety signals. This supports launching the PALM-PAH Phase 3 trial. TPIP is a key part of the $6 billion-plus peak-sales opportunity that still needs late-stage success.

    It de-risks a major pipeline asset that underpins a large chunk of the raised peak-sales estimate.

  • EMBARC to run 3,000-patient brensocatib study The European bronchiectasis research group EMBARC will collaborate with Insmed on a 3,000-patient study of brensocatib (Brinsupri) across six countries. The study aims to show whether early treatment can change the disease course, which could expand use and strengthen the case for the drug beyond current approvals.

    It signals strong clinical interest and potential for broader use, supporting long-term demand for the main growth driver.

Latest
▲4

Insmed's Brinsupri Launch Accelerates, Peak-Sales Target Raised to $14B

  • Q2 loss narrows sharply, Brinsupri guidance raised Insmed's Q2 net loss shrank to $13.2 million from $321.7 million a year earlier, and product revenue nearly quadrupled to $425.5 million. Brinsupri sales hit $309.2 million, up 49% from the prior quarter, and management raised 2026 Brinsupri guidance to $1.25–$1.40 billion. The stock jumped 33% on the news.

    This is the period's biggest price-moving event and shows the core business is performing far better than expected.

  • Peak-sales estimate raised to over $14 billion Management now sees peak sales for its three lead programs exceeding $14 billion, a 75% increase. More than $7 billion is tied to already-launched Brinsupri, but over $6 billion depends on TPIP, which is still in Phase III trials for only two of four target indications. Insmed ended June with $1.2 billion in cash, enough to reach profitability in 2027 without raising capital.

    This gives investors a long-term growth target and shows the company can fund itself, but also flags the pipeline risk.

  • Positive 12-month TPIP data supports Phase 3 launch Insmed reported positive 12-month data for TPIP in pulmonary arterial hypertension, with sustained improvements in exercise capacity and no new safety signals. This supports launching the PALM-PAH Phase 3 trial. TPIP is a key part of the $6 billion-plus peak-sales opportunity that still needs late-stage success.

    It de-risks a major pipeline asset that underpins a large chunk of the raised peak-sales estimate.

  • EMBARC to run 3,000-patient brensocatib study The European bronchiectasis research group EMBARC will collaborate with Insmed on a 3,000-patient study of brensocatib (Brinsupri) across six countries. The study aims to show whether early treatment can change the disease course, which could expand use and strengthen the case for the drug beyond current approvals.

    It signals strong clinical interest and potential for broader use, supporting long-term demand for the main growth driver.

Alnylam Pharmaceuticals Inc (ALNY)

Q3 2026
▲2▼2

Alnylam's TTR Guidance Cut Triggers 29% Plunge Despite Record Quarter

  • TTR Guidance Cut Sends Shares Down 29% Alnylam lowered its 2026 TTR revenue guidance to $4.2–4.5 billion from $4.4–4.7 billion, citing slower second-line demand for Amvuttra. The stock plunged 29% as investors feared the flagship franchise's growth is decelerating, overshadowing strong Q2 results.

    This is the single biggest new event of the period and the main reason ALNY is moving right now.

  • Amvuttra Tops $1 Billion in a Quarter for First Time Amvuttra exceeded $1 billion in quarterly sales, with total product revenue up 74% and non-GAAP operating income tripling to $318 million. This shows the drug is still growing strongly, but the guidance cut signals the pace will slow.

    It is the key new financial result that contrasts with the guidance cut and explains the mixed market reaction.

  • Rival ATTR-CM Drug Fails, Boosting Alnylam's Competitive Edge AstraZeneca and Ionis's Wainua failed a Phase 3 ATTR-CM trial, removing a potential competitor. Alnylam shares initially rose 18% as its Amvuttra faces less competition in the cardiomyopathy market, though the later guidance cut reversed those gains.

    This is a major new competitive development that initially drove the stock up and remains a positive force.

  • Securities Fraud Investigation Adds Legal Uncertainty Kirby McInerney launched an investigation into potential securities law violations following the guidance cut. While no lawsuit has been filed, the probe adds uncertainty and could pressure the stock as investors weigh legal risks.

    It is a new negative development that could affect investor sentiment and is directly tied to the guidance cut.

July 2026
▲2▼2

Alnylam's TTR Guidance Cut Triggers 29% Plunge Despite Record Quarter

  • TTR Guidance Cut Sends Shares Down 29% Alnylam lowered its 2026 TTR revenue guidance to $4.2–4.5 billion from $4.4–4.7 billion, citing slower second-line demand for Amvuttra. The stock plunged 29% as investors feared the flagship franchise's growth is decelerating, overshadowing strong Q2 results.

    This is the single biggest new event of the period and the main reason ALNY is moving right now.

  • Amvuttra Tops $1 Billion in a Quarter for First Time Amvuttra exceeded $1 billion in quarterly sales, with total product revenue up 74% and non-GAAP operating income tripling to $318 million. This shows the drug is still growing strongly, but the guidance cut signals the pace will slow.

    It is the key new financial result that contrasts with the guidance cut and explains the mixed market reaction.

  • Rival ATTR-CM Drug Fails, Boosting Alnylam's Competitive Edge AstraZeneca and Ionis's Wainua failed a Phase 3 ATTR-CM trial, removing a potential competitor. Alnylam shares initially rose 18% as its Amvuttra faces less competition in the cardiomyopathy market, though the later guidance cut reversed those gains.

    This is a major new competitive development that initially drove the stock up and remains a positive force.

  • Securities Fraud Investigation Adds Legal Uncertainty Kirby McInerney launched an investigation into potential securities law violations following the guidance cut. While no lawsuit has been filed, the probe adds uncertainty and could pressure the stock as investors weigh legal risks.

    It is a new negative development that could affect investor sentiment and is directly tied to the guidance cut.

Latest
▲2▼2

Alnylam's TTR Guidance Cut Triggers 29% Plunge Despite Record Quarter

  • TTR Guidance Cut Sends Shares Down 29% Alnylam lowered its 2026 TTR revenue guidance to $4.2–4.5 billion from $4.4–4.7 billion, citing slower second-line demand for Amvuttra. The stock plunged 29% as investors feared the flagship franchise's growth is decelerating, overshadowing strong Q2 results.

    This is the single biggest new event of the period and the main reason ALNY is moving right now.

  • Amvuttra Tops $1 Billion in a Quarter for First Time Amvuttra exceeded $1 billion in quarterly sales, with total product revenue up 74% and non-GAAP operating income tripling to $318 million. This shows the drug is still growing strongly, but the guidance cut signals the pace will slow.

    It is the key new financial result that contrasts with the guidance cut and explains the mixed market reaction.

  • Rival ATTR-CM Drug Fails, Boosting Alnylam's Competitive Edge AstraZeneca and Ionis's Wainua failed a Phase 3 ATTR-CM trial, removing a potential competitor. Alnylam shares initially rose 18% as its Amvuttra faces less competition in the cardiomyopathy market, though the later guidance cut reversed those gains.

    This is a major new competitive development that initially drove the stock up and remains a positive force.

  • Securities Fraud Investigation Adds Legal Uncertainty Kirby McInerney launched an investigation into potential securities law violations following the guidance cut. While no lawsuit has been filed, the probe adds uncertainty and could pressure the stock as investors weigh legal risks.

    It is a new negative development that could affect investor sentiment and is directly tied to the guidance cut.

Q2 2026
▲4

Alnylam's RNAi Engine Roars: AI Deals, Regulatory Wins, and a 121% Revenue Surge

  • Amvuttra's 187% sales jump powers 121% total revenue growth Amvuttra sales soared 187% to $889.9 million, driving total Q1 product revenue up 121% to $1.04 billion. This blockbuster growth is the core reason Alnylam's stock can rebound, as it proves the company's flagship drug is winning in the cardiomyopathy market.

    This is the fundamental growth engine behind the stock's potential recovery and analyst optimism.

  • AI partnerships with Inceptive and Komodo aim to speed drug discovery and commercialization Alnylam formed a $2 billion AI collaboration with Inceptive Nucleics to accelerate RNAi drug discovery and expanded its Komodo Health partnership to scale AI analytics. These deals could shorten development timelines and boost pipeline productivity, supporting long-term growth.

    These new AI initiatives signal future pipeline expansion and operational efficiency, key for a biotech's valuation.

  • Cemdisiran accepted for FDA and EMA review in myasthenia gravis Regulators accepted marketing applications for cemdisiran, with FDA priority review and a November decision date. This milestone brings a potential new rare-disease therapy closer to market, diversifying revenue beyond Amvuttra and adding a near-term catalyst.

    A regulatory acceptance is a concrete step toward a new product approval, directly impacting future revenue.

  • Analysts see 45% upside as Brown Advisory initiates a position Wall Street's average price target is $436, about 45% above the recent close, and Brown Advisory initiated a stake citing an attractive entry point. These votes of confidence suggest the market may be undervaluing Alnylam's growth prospects.

    Institutional buying and analyst targets reflect external validation of the company's value after a steep selloff.

June 2026
▲4

Alnylam's RNAi Engine Roars: AI Deals, Regulatory Wins, and a 121% Revenue Surge

  • Amvuttra's 187% sales jump powers 121% total revenue growth Amvuttra sales soared 187% to $889.9 million, driving total Q1 product revenue up 121% to $1.04 billion. This blockbuster growth is the core reason Alnylam's stock can rebound, as it proves the company's flagship drug is winning in the cardiomyopathy market.

    This is the fundamental growth engine behind the stock's potential recovery and analyst optimism.

  • AI partnerships with Inceptive and Komodo aim to speed drug discovery and commercialization Alnylam formed a $2 billion AI collaboration with Inceptive Nucleics to accelerate RNAi drug discovery and expanded its Komodo Health partnership to scale AI analytics. These deals could shorten development timelines and boost pipeline productivity, supporting long-term growth.

    These new AI initiatives signal future pipeline expansion and operational efficiency, key for a biotech's valuation.

  • Cemdisiran accepted for FDA and EMA review in myasthenia gravis Regulators accepted marketing applications for cemdisiran, with FDA priority review and a November decision date. This milestone brings a potential new rare-disease therapy closer to market, diversifying revenue beyond Amvuttra and adding a near-term catalyst.

    A regulatory acceptance is a concrete step toward a new product approval, directly impacting future revenue.

  • Analysts see 45% upside as Brown Advisory initiates a position Wall Street's average price target is $436, about 45% above the recent close, and Brown Advisory initiated a stake citing an attractive entry point. These votes of confidence suggest the market may be undervaluing Alnylam's growth prospects.

    Institutional buying and analyst targets reflect external validation of the company's value after a steep selloff.

▲4

Alnylam's RNAi Engine Roars: AI Deals, Regulatory Wins, and a 121% Revenue Surge

  • Amvuttra's 187% sales jump powers 121% total revenue growth Amvuttra sales soared 187% to $889.9 million, driving total Q1 product revenue up 121% to $1.04 billion. This blockbuster growth is the core reason Alnylam's stock can rebound, as it proves the company's flagship drug is winning in the cardiomyopathy market.

    This is the fundamental growth engine behind the stock's potential recovery and analyst optimism.

  • AI partnerships with Inceptive and Komodo aim to speed drug discovery and commercialization Alnylam formed a $2 billion AI collaboration with Inceptive Nucleics to accelerate RNAi drug discovery and expanded its Komodo Health partnership to scale AI analytics. These deals could shorten development timelines and boost pipeline productivity, supporting long-term growth.

    These new AI initiatives signal future pipeline expansion and operational efficiency, key for a biotech's valuation.

  • Cemdisiran accepted for FDA and EMA review in myasthenia gravis Regulators accepted marketing applications for cemdisiran, with FDA priority review and a November decision date. This milestone brings a potential new rare-disease therapy closer to market, diversifying revenue beyond Amvuttra and adding a near-term catalyst.

    A regulatory acceptance is a concrete step toward a new product approval, directly impacting future revenue.

  • Analysts see 45% upside as Brown Advisory initiates a position Wall Street's average price target is $436, about 45% above the recent close, and Brown Advisory initiated a stake citing an attractive entry point. These votes of confidence suggest the market may be undervaluing Alnylam's growth prospects.

    Institutional buying and analyst targets reflect external validation of the company's value after a steep selloff.

© 2026 MarketIVWhy