Analyst Tazeen Ahmad of Bank of America Securities reiterated a Buy rating on Alnylam Pharma (ALNY – Research Report), boosting the price target to $336.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors including Alnylam Pharma’s strong performance in the first quarter, particularly driven by Amvuttra’s success in the ATTR-CM market. The company reported revenues that exceeded expectations for Amvuttra, and management has highlighted the strong momentum in the ATTR-CM segment, which is expected to be a significant growth driver in the latter half of the year.
Additionally, Alnylam’s strategic focus on optimizing access through payor and health system engagement is showing positive results, with Amvuttra already on the formulary at over 50% of target health systems. The company’s pipeline also presents promising long-term growth opportunities, such as the upcoming phase 3 trial for nucresiran in ATTR-CM, which is anticipated to launch in 2030. These factors, along with the company’s reiterated revenue guidance and positive initial launch metrics, support the Buy rating and the new price objective of $336.
Ahmad covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Incyte, and Sarepta Therapeutics. According to TipRanks, Ahmad has an average return of -4.6% and a 43.21% success rate on recommended stocks.
In another report released today, Chardan Capital also maintained a Buy rating on the stock with a $325.00 price target.