mohd izzuan/iStock via Getty Images Alnylam Pharmaceuticals ( NASDAQ: ALNY ) was the best performing large cap ($30B+) pharma or biotech in Q2, returning ~58.5% in the period. The biotech's strong performance was helped significantly in late June when it reported strong pivotal trial results for vutrisiran, a treatment for ATTR amyloidosis with cardiomyopathy, sending shares skyrocketing .
Following the data release, Seeking Alpha analyst Stephen Simpson wrote that the trial results significantly boost the company's revenue generation opportunities. He gives Alnylam a fair value of $277/share. The stock closed June 28 at $243.
The second-best performing pharma or biotech of the quarter was Eli Lilly ( NYSE: LLY ), gaining ~19.1% . The Indianapolis-based drugmaker benefitted from increasing sales of its GLP-1/GIP diabetes and weight loss medicines containing tirzepatide, respectively, Mounjaro and Zepbound, as well as an endorsement earlier in June from FDA advisors for Alzheimer's drug donanemab .
In third was AstraZeneca ( NASDAQ: AZN ), up ~16% . The U.K.
-based drugmaker was buoyed in April by strong Q1 financial results as well as successful data readouts throughout the quarter. Rounding out the top five were Moderna ( NASDAQ: MRNA ) and Novo Nordisk ( NVO ) with gains of, respectively, ~12.5% and ~11.
9% . The worst performer in Q2 with a ~21.6% decline was Bristol-Myers Squibb ( BMY ).
The pharma has been struggling for some time and is down ~35% over the last year. Howev.
