Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on Alnylam Pharma (NASDAQ: ALNY) yesterday and set a price target of $135. The company’s shares closed on Friday at $86.75, close to its 52-week low of $84.48.
Young observed:
“. We reiterate our Overweight rating and $135 12-month price target on ALNY. FDA approval of Tegsedi, to be marketed by Akcea (AKCA, Not Covered), introduces another (expected) competitor to the market, but we still expect Alnylam’s ONPATTRO to be able to take significant share in the polyneuropathy hATTR market. TEGSEDI is priced at parity with ONPATTRO at $450k/year, and we assume that both companies will offer a similar level of net discounts. We think that investors will likely assign a larger market share to ONPATTRO than we do. TEGSEDI was approved in Canada last week.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 7.2% and a 49.7% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and Intercept Pharma.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alnylam Pharma with a $146.77 average price target, a 69.2% upside from current levels. In a report issued on September 27, Chardan Capital also reiterated a Buy rating on the stock with a $180 price target.
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Based on Alnylam Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $164 million. In comparison, last year the company had a GAAP net loss of $123 million.
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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.
