Alnylam Pharma (ALNY – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on the stock and has a $325.00 price target.
Tazeen Ahmad has given his Buy rating due to a combination of factors surrounding the recent approval of Amvuttra for the treatment of cardiomyopathy associated with transthyretin-mediated amyloidosis. The approval aligns with expectations and is supported by strong clinical data from the HELIOS-B study. Ahmad is optimistic about the drug’s potential to become the new standard of care due to its differentiated mechanism, convenient dosing, and robust clinical performance.
Furthermore, the management’s strategy to secure broad access and formulary positioning is expected to drive growth, particularly in the second half of the year. The label’s flexibility for use as monotherapy or in combination without restrictions is also seen as a positive factor for market penetration. Despite the list price remaining the same, anticipated rebates and value-based agreements are expected to impact the net price, which has been factored into the financial models. These elements contribute to the revised price objective of $325, reinforcing the Buy recommendation.
In another report released today, Barclays also maintained a Buy rating on the stock with a $329.00 price target.
ALNY’s price has also changed slightly for the past six months – from $273.880 to $253.545, which is a -7.42% drop .