Alnylam Pharma (ALNY) Receives a Buy from Needham
Needham analyst Alan Carr maintained a Buy rating on Alnylam Pharma (NASDAQ: ALNY) today and set a price target of $152. The company’s shares opened today at $94.10.
“Alnylam is expected to announce results of an interim analysis of the Phase 3 trial of givosiran in Acute Hepatic Porphyrias (AHP) later this month. The FDA has reportedly indicated that a statistically significant reduction in biomarker urine ALA level w/ the first 30 enrolled patients may be sufficient for accelerated approval. We expect a positive outcome based on strength of data collected from Phase 1/2 testing, in which profound and durable reductions in urine ALA levels were observed. Mgmt has guided for NDA submission by YE18. We assume U.S. commercial launch in 2H19 and WW peak sales $600-700M. Reiterate BUY.”
According to TipRanks.com, Carr is a 4-star analyst with an average return of 4.3% and a 43.9% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Rhythm Pharmaceuticals Inc, and Lexicon Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alnylam Pharma with a $148.25 average price target, implying a 57.5% upside from current levels. In a report issued on September 3, Cowen & Co. also maintained a Buy rating on the stock with a $147 price target.
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The company has a one-year high of $153.99 and a one-year low of $74.50. Currently, Alnylam Pharma has an average volume of 860.7K.
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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.