Leerink Partners analyst Mani Foroohar reiterated a Hold rating on Alnylam Pharma on September 1 and set a price target of $347.00.
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Mani Foroohar has given his Hold rating due to a combination of factors related to Alnylam Pharma’s recent clinical trial results and market positioning. The Phase 2 KARDIA-3 trial for zilebesiran in patients with uncontrolled hypertension did not meet the pre-specified criteria for statistical significance, as the higher 600mg dose did not show additional benefits over the 300mg dose. Although the 300mg dose did demonstrate some reduction in systolic blood pressure, the results were not as compelling as competing treatments, which introduces some risk to the company’s long-term platform value.
Additionally, while zilebesiran showed potential in reducing cardiovascular and renal biomarkers, the magnitude of these benefits remains uncertain. The safety profile was generally favorable, but the efficacy results compared to competitors like AstraZeneca’s baxdrostat leave some uncertainties. Despite an increase in the probability of success for zilebesiran and a slight increase in the price target, the overall outlook suggests a cautious approach, justifying the Hold rating.
According to TipRanks, Foroohar is an analyst with an average return of -5.1% and a 43.96% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, RegenXBio, and Moderna.
In another report released on September 2, Morgan Stanley also maintained a Hold rating on the stock with a $405.00 price target.