BofA raised the firm’s price target on Alnylam (ALNY) to $520 from $453 and keeps a Buy rating on the shares. The recent $575M convertible senior note offering and strong initial trends in the ATTR-CM launch reinforce the firm’s confidence in the commercial opportunity, the analyst tells investors in a research note. BofA views the launch of Amvuttra in ATTR-CM as a pivotal point for the company providing a significant source of long-term revenues to support expansion of the siRNA platform into several additional indications.
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