In a report released today, Alethia Young from Cantor Fitzgerald maintained a Buy rating on Alnylam Pharma (NASDAQ: ALNY), with a price target of $135. The company’s shares closed on Friday at $81.95, close to its 52-week low of $78.85.
Young commented:
“: We continue to rate Alnylam shares overweight with a price target of $135. This morning Alnylam announced they would pursue a rolling submission for givosiran. It will include both the interim and full data expected in early 2019 so the submission will be complete by mid-2019. We are not changing our estimates since we already modeled a 2020 givosiran launch. Givosiran also has breakthrough designation which means they could be approved relatively fast or by end of 2019. We think sometime in early 2020 is a reasonable assumption.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 5.8% and a 47.8% 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 $146.77, a 79.1% upside from current levels. In a report issued on October 4, B.Riley FBR also reiterated a Buy rating on the stock with a $230 price target.
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The company has a one-year high of $153.99 and a one-year low of $78.85. Currently, Alnylam Pharma has an average volume of 929.5K.
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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.
