Analyst Michael Ulz from Morgan Stanley maintained a Hold rating on Alnylam Pharma and keeping the price target at $495.00.
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Michael Ulz’s rating is based on a combination of factors that suggest a cautious outlook for Alnylam Pharma’s stock. The monthly sales data for Amvuttra in the U.S. showed an 11% decrease in October compared to September, which aligns with historical trends where sales typically dip in the first month of a quarter. This decline follows a significant 24% increase in the previous month, indicating some volatility in monthly sales figures.
Despite the monthly sales decline, the overall trend for Amvuttra remains positive, with a 12% increase in monthly prescriptions as captured by Symphony data. Additionally, Alnylam’s guidance for fourth-quarter revenue suggests a robust sequential growth of 17-24%. These mixed signals, with strong long-term growth potential but short-term fluctuations, likely contributed to Ulz’s decision to maintain a Hold rating, reflecting a balanced view of the company’s prospects.