Alnylam Pharmaceuticals (ALNY) shares soared 11.8% in the last trading session to close at $283.34. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1% gain over the past four weeks.

The sudden rise in the stock price can be attributed to the FDA approval of Alnylam's regulatory filing seeking the label expansion of its lead drug, Amvuttra (vutrisiran), for treating the cardiomyopathy of wild-type or hereditary transthyretin-mediated amyloidosis (ATTR-CM) in adults to reduce cardiovascular mortality, cardiovascular hospitalizations and urgent heart failure visits. The FDA’s latest nod makes Amvuttra the first and only therapeutic approved in the United States for both ATTR-CM and polyneuropathy associated with transthyretin-mediated amyloidosis in adults, marking a significant milestone achievement. Regulatory applications seeking the approval of Amvuttra for the ATTR-CM indication are also currently under review by authorities in the EU, Brazil and Japan. Alnylam is also on track to submit further regulatory applications for the drug to treat the same indication in 2025. Subject to the approval of the regulatory applications in these additional geographies, Alnylam believes that vutrisiran has the potential to become the new standard of care for the treatment of ATTR-CM. This will expand the eligible patient population for the drug, driving substantial growth for the company in the future.

This RNA interference drug developer is expected to post quarterly loss of $0.48 per share in its upcoming report, which represents a year-over-year change of -200%. Revenues are expected to be $592.34 million, up 19.8% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Alnylam, the consensus EPS estimate for the quarter has been revised 2.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ALNY going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Alnylam is part of the Zacks Medical - Biomedical and Genetics industry. Dianthus Therapeutics, Inc. (DNTH), another stock in the same industry, closed the last trading session 4.7% lower at $19.49. DNTH has returned -13.8% in the past month.

For Dianthus Therapeutics, Inc. , the consensus EPS estimate for the upcoming report has changed +5.3% over the past month to -$0.86. This represents a change of -59.3% from what the company reported a year ago. Dianthus Therapeutics, Inc. currently has a Zacks Rank of #3 (Hold).

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