TD Cowen analyst Ritu Baral maintained a Buy rating on Alnylam Pharma (ALNY – Research Report) yesterday and set a price target of $371.00.
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Ritu Baral has given her Buy rating due to a combination of factors that indicate strong future performance for Alnylam Pharma. The company has met the high end of its fiscal year 2024 product revenue guidance, reaching $1.64 billion, and it provides a promising outlook for fiscal year 2025 with projected revenues between $2.05 billion and $2.25 billion. This positions the company to potentially reach breakeven by the fourth quarter of 2025.
Additional positive factors include expected regulatory approvals, such as the anticipated U.S. approval for vutri with a broad label, which could significantly enhance the company’s market presence. Furthermore, Alnylam is poised for launches in major international markets like Germany and Japan in the second half of 2025. The company is also advancing its pipeline with the upcoming start of the Nucresiran Phase 3 trial, indicating robust growth prospects and innovation in its product offerings.
Baral covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Alnylam Pharma, and Insmed. According to TipRanks, Baral has an average return of 12.4% and a 47.39% success rate on recommended stocks.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $320.00 price target.