In a report released today, Michael Ulz from Morgan Stanley maintained a Hold rating on Alnylam Pharma (ALNY – Research Report), with a price target of $284.00.
Michael Ulz has given his Hold rating due to a combination of factors surrounding Alnylam Pharma’s recent developments. The FDA’s approval of Amvuttra for treating ATTR amyloidosis with cardiomyopathy came slightly earlier than anticipated and included a broad label indicating benefits on mortality and hospitalizations. Despite this positive development, the wholesale acquisition cost remains unchanged at approximately $119,000 per quarterly dose, which is a considerable premium compared to competitors.
Furthermore, while management is optimistic about the drug’s market potential and expects significant contributions from TTR-CM sales by the second half of 2025, the anticipated gradual increase in the gross-to-net discount as uptake rises could impact profitability. The company has reiterated its sales guidance, but the full financial impact of these developments remains to be seen. These factors contribute to a cautious outlook, justifying the Hold rating as investors await further clarity on market uptake and pricing dynamics.
In another report released yesterday, Wells Fargo also maintained a Hold rating on the stock with a $287.00 price target.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALNY in relation to earlier this year.