Cautious Outlook on Alnylam Pharma: Hold Rating Amid Incremental EU Approval and Promising US Sales Projections

Analyst Michael Ulz of Morgan Stanley maintained a Hold rating on Alnylam Pharma (ALNY – Research Report), retaining the price target of $287.00.

Michael Ulz has given his Hold rating due to a combination of factors surrounding Alnylam Pharma’s recent developments and market expectations. The approval of Amvuttra in the EU for treating transthyretin amyloidosis with cardiomyopathy (TTR-CM) is a positive step, but the market impact is expected to be incremental, with the primary focus remaining on the US market where the initial launch trends are favorable.
Looking ahead, the key driver for Alnylam’s stock value is anticipated to be the US sales of Amvuttra, projected to contribute significantly to the company’s revenue by 2025. Despite the promising outlook, the Hold rating reflects a cautious stance, considering the need for further data on customer utilization and market penetration, which Alnylam plans to share in upcoming quarterly calls.

ALNY’s price has also changed moderately for the past six months – from $255.890 to $304.000, which is a 18.80% increase.