In a report released yesterday, Madhu Kumar from B.Riley FBR reiterated a Buy rating on Alnylam Pharma (NASDAQ: ALNY), with a price target of $200. The company’s shares opened today at $98.97.
Kumar commented:
“This morning, 5/23, Pfizer (PFE) announced that trasnthyretin (TTR) stabilizer drug tafamidis has received FDA Breakthrough Therapy Designation (BTD) for the treatment of TTR cardiomyopathy (TTR-CM). In contrast to the consensus, we do not consider this a material overhang for Alnylam’s TTR RNAi franchise, as all the existing clinical data suggest superiority for RNAi over tafamidis. We thus reiterate our ALNY Buy rating, $200 price target, and Alnylam’s status as our Alpha Generator pick and one of our Out-the-Gate 2018 picks.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 39.8% and a 60.0% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Clementia Pharmaceuticals Inc, and Deciphera Pharmaceuticals Inc.
Alnylam Pharma has an analyst consensus of Strong Buy, with a price target consensus of $160.14.
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The company has a one-year high of $153.99 and a one-year low of $62.96. Currently, Alnylam Pharma has an average volume of 1.07M.
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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.
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