In a report released yesterday, Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on Alnylam Pharma (ALNY – Research Report), with a price target of $302.00.
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Tazeen Ahmad’s rating is based on the anticipated strong performance of Alnylam Pharma in the near term, particularly focusing on the upcoming PDUFA date for Amvuttra in ATTR-CM. The management’s guidance suggests a promising growth trajectory with expected revenues and a notable 36% year-over-year growth in the ATTR franchise, which bolsters the commercial potential post-approval. The differentiated clinical profile of Amvuttra, with its unique mechanism of action and quarterly dosing, is expected to drive significant uptake, thereby enhancing its market value.
Furthermore, Tazeen Ahmad highlights the company’s strategic preparation for the ATTR-CM launch, emphasizing efforts to secure broad access through payor approvals and logistics. The anticipated positive dynamics in patient affordability and the mix of treatment-naïve and switch patients are expected to contribute to meaningful growth in the latter half of the year. Additionally, the upcoming R&D day is set to provide further insights into the pipeline, particularly regarding the development of nucresiran, which could offer better economics and annual dosing potential, thus reinforcing the Buy rating and revised price objective of $302.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $320.00 price target.
ALNY’s price has also changed slightly for the past six months – from $267.630 to $264.890, which is a -1.02% drop .