Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on Alnylam Pharma (ALNY) today and set a price target of $135. The company’s shares closed yesterday at $77.91, close to its 52-week low of $63.57.
Young commented:
“. We reiterate our Overweight rating and 12-month $135 PT. After speaking to management ahead of Alnylam’s upcoming R&D day on 12/6, we discuss potential pipeline updates and expectations and why we still like the name as a top pick into 2019. Although we have high conviction in the commercial opportunity for Onpattro, we have always said the initial launch would be gradual as ALNY builds out the hATTR amyloidosis market. As the Street digests these launch dynamics post-3Q18, we believe there is renewed focus on the next leg of growth. We expect details on the next wave of development programs.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 3.9% and a 46.0% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and Intercept Pharma.
Alnylam Pharma has an analyst consensus of Strong Buy, with a price target consensus of $135.92, representing a 74.5% upside. In a report issued on November 15, Stifel Nicolaus also maintained a Buy rating on the stock with a $111 price target.
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The company has a one-year high of $153.99 and a one-year low of $63.57. Currently, Alnylam Pharma has an average volume of 889.4K.
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Alnylam Pharmaceuticals, Inc. is a 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.
