PGIM, an investment management company, released its “PGIM Jennison Health Sciences Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equities in the second quarter of 2025 experienced significant volatility, as the steep sell-off that initiated at the beginning of the quarter ultimately led to a strong recovery. The S&P 1500 Health Care Index declined 6.9% in the second quarter, underperforming the S&P 500’s 10.9% return. Health care providers & services, life sciences tools & services, biotechnology, and pharmaceuticals underperformed the Index in the quarter. While healthcare technology and medtech gained in the quarter. In June, the S&P 1500 Health Care Index (the Index) gained 1.9%, lagging the S&P 500, which advanced 5.1%. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its second-quarter 2025 investor letter, PGIM Jennison Health Sciences Fund highlighted stocks such as Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY). Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) discovers and commercializes therapeutics based on ribonucleic acid interference. The one-month return of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was 1.34%, and its shares gained 66.94% of their value over the last 52 weeks. On September 24, 2025, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) stock closed at $458.37 per share, with a market capitalization of $60.083 billion.
PGIM Jennison Health Sciences Fund stated the following regarding Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in its second quarter 2025 investor letter:
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is a commercial-stage biotech company focused on Ribonucleic acid (RNA)-based therapies, specifically RNAi, a powerful platform technology that has potential in a wide range of conditions. Their main franchise is in Transthyretin Amyloidosis (ATTR) cardiomyopathy (CM) and polyneuropathy (PN), related conditions driven by a misfolded protein. The first drug approved in this setting was Pfizer’s (PFE’s) oral tafamidis (brand names Vyndaquel/Vyndamax). More recently, BridgeBio (BBIO) has had a similar molecule to PFE’s approved (acoramidis, commercialized as Attruby). However, ALNY’s Amvuttra represents the first novel approach in several years, as it is a silencer that reduces production of misfolded protein almost completely, as opposed to the PFE / BBIO pills that stabilize the protein in a more functional form, making it less likely to cause harm in the body. Amvuttra is a quarterly subcutaneous injection, so it combines a novel and highly efficacious mechanism with extremely convenient dosing. Amvuttra was approved in late April for ATTR CM, the far more common form of the disease, and early feedback suggests an extremely strong launch, driving the May stock performance. We fully expect this strength to continue for quarters and years to come, as ATTR-CM, like many rare diseases, is significantly underdiagnosed. We see diagnosis rates for these rare diseases improve, and the market size expand when a second or third drug enters the market, which is what we are seeing with ATTR-CM now, and we think Amvuttra’s differentiated product profile will make ALNY a disproportionate beneficiary of said market acceleration. ALNY also has a deep pipeline of programs across cardiovascular disease, neurology, liver disease, and other areas and could be a true multi-franchise company by the end of the decade, a potentiality we still do not see reflected in the stock.”
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) at the end of the second quarter, which was 59 in the previous quarter. While we acknowledge the risk and potential of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) and shared ClearBridge All Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
