Canaccord raised the firm’s price target on Alnylam (ALNY) to $390 from $385 and keeps a Buy rating on the shares. The firm noted they announced FDA approval of Amvuttra for the treatment of ATTR-CM. The label is a best-case with the indication statement saying Amvuttra “reduce(s) cardiovascular mortality, cardiovascular hospitalizations, and urgent heart failure visits.” Canaccord thinks its uptake assumptions were conservative to begin with, and thinks they are even more conservative now after moderating its uptake assumptions.
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