Maury Raycroft, an analyst from Jefferies, maintained the Buy rating on Alnylam Pharma (ALNY – Research Report). The associated price target was raised to $329.00.
Maury Raycroft has given his Buy rating due to a combination of factors that highlight Alnylam Pharma’s potential in the ATTR-CM market. One of the key reasons is the company’s strong fundamentals and the promising outlook for its drug, Amvuttra, which is expected to expand its label into the ATTR-CM treatment paradigm. The market for ATTR-CM is growing, driven by increased awareness and improved diagnostics, which positions Amvuttra well for capturing a significant share.
Raycroft also notes that despite the dominance of tafamidis in the market, the entry of new competitors like Amvuttra is likely to impact the current growth rates of existing treatments. Alnylam’s strategic focus on first-line treatment-naive patients and potential switches from second-line tafamidis progressors further supports the positive sales projections. The analyst believes that Alnylam could surpass revenue estimates if Amvuttra’s capture rate is higher than expected, making the stock an attractive buy.
In another report released on April 23, TD Cowen also maintained a Buy rating on the stock with a $371.00 price target.