Analyst Ritu Baral of TD Cowen maintained a Buy rating on Alnylam Pharma (ALNY – Research Report), retaining the price target of $371.00.
Ritu Baral has given her Buy rating due to a combination of factors that highlight Alnylam Pharma’s strong financial and strategic positioning. The company reported first-quarter product revenues that, while slightly below her estimates, met consensus expectations, indicating a stable financial performance. Additionally, Alnylam’s efforts in expanding its market presence and increasing patient demand are evident, with significant progress in getting its product Vutri included in health system formularies and generating new prescriptions.
Looking ahead, Alnylam is poised for significant growth, with guidance for substantial revenue increases and a pathway to achieving GAAP breakeven by 2025. The company’s strategic collaborations and partnerships, particularly with Roche and Regeneron, are expected to contribute significantly to its revenue through collaboration and royalty streams. Furthermore, Alnylam’s ongoing clinical trials and product launches, such as Amvuttra for new indications, are anticipated to drive further market expansion and revenue growth, supporting the Buy rating.
Baral covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Sarepta Therapeutics, and Amicus. According to TipRanks, Baral has an average return of 2.0% and a 39.44% success rate on recommended stocks.