Analyst Tazeen Ahmad of Bank of America Securities reiterated a Buy rating on Alnylam Pharma, boosting the price target to $359.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors that highlight Alnylam Pharma’s promising growth prospects. The company’s recent performance, particularly the strong revenue figures for Amvuttra, Onpattro, Givlaari, and Oxlumo, demonstrates a positive trend. The anticipated launch metrics for ATTR-CM are expected to further bolster the company’s revenue, with management confident in achieving or surpassing their FY25 TTR franchise guidance.
Additionally, a survey of cardiologists indicates a significant market share potential for Amvuttra, suggesting a faster uptake than initially estimated. The early signs of reimbursement approval for combination therapy with tafamidis also present a favorable outlook. These factors, combined with the potential for upward revisions to future guidance, underpin the Buy rating and the new price objective of $359.
According to TipRanks, Ahmad is an analyst with an average return of -3.3% and a 48.16% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Incyte, ACADIA Pharmaceuticals, and Ultragenyx Pharmaceutical.
In another report released on July 8, Jefferies also maintained a Buy rating on the stock with a $384.00 price target.