Analyst Mani Foroohar of Leerink Partners maintained a Hold rating on Alnylam Pharma (ALNY – Research Report), with a price target of $136.00.
Geoff Meacham has given his Hold rating due to a combination of factors surrounding Alnylam Pharmaceuticals’ current situation and prospects. The firm’s recent announcement concerning the Phase 3 HELIOS-B study of vutrisiran in ATTR-cardiomyopathy has been seen as a strategic step to mitigate the risk of statistical significance failure. However, there’s an ongoing debate regarding the study’s potential to demonstrate an incremental benefit over existing therapy, especially considering the imminent genericization of tafamidis and the noted payer resistance to combination treatments. Despite the potential for a near-term positive shift in investor sentiment, there are reservations about the study’s low event rate, which suggests a cautious stance from the company and creates uncertainty about the outcome.
Additionally, the updated financial model reflects the latest disclosures and guidance on revenue and operating expenses. The anticipated approval timeline for vutrisiran has been adjusted to late 2025, aligning with the new trial timing, which has led to a downward revision of the price target from $144 to $136. These factors collectively underpin the hold rating, indicating that while there may be some positive elements in the near term, there are significant concerns and uncertainties that temper the outlook for Alnylam Pharmaceuticals, advising a more conservative investment approach until more definitive results are available.
ALNY’s price has also changed moderately for the past six months – from $180.130 to $147.430, which is a -18.15% drop .
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Alnylam Pharma (ALNY) Company Description:
Alnylam Pharmaceuticals, Inc. operates as biopharmaceutical company, which engages in the discovery, development and commercialization of RNAi therapeutics. It is the translation of RNAi as a new class of innovative medicines with a core focus on RNAi therapeutics for the treatment of genetically defined diseases. The company was founded by John Kennedy Clarke, Paul R. Schimmel and Phillip A. Sharp on June 14, 2002 and is headquartered in Cambridge, MA.
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