William Blair analyst Myles Minter has maintained their bullish stance on ALNY stock, giving a Buy rating yesterday.
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Myles Minter has given his Buy rating due to a combination of factors including Alnylam Pharma’s strong financial performance and promising future prospects. The company’s first-quarter revenues exceeded both the firm’s and market expectations, indicating robust demand for its products. Additionally, the TTR franchise sales surpassed estimates, showcasing the company’s successful market penetration and product adoption.
Minter also highlights the company’s efficient cost management, as both R&D and SG&A expenses were significantly lower than anticipated. Furthermore, the upcoming Phase III TRITON-CM study and potential approvals in Japan and the EU are seen as catalysts for future growth. These elements collectively contribute to a positive outlook for Alnylam Pharma, justifying the Buy rating.
Minter covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Alnylam Pharma, and Arcturus Therapeutics. According to TipRanks, Minter has an average return of 2.5% and a 42.69% success rate on recommended stocks.
In another report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $300.00 price target.