Alnylam price target raised to $550 from $403 at UBS

UBS raised the firm’s price target on Alnylam (ALNY) to $550 from $403 and keeps a Buy rating on the shares. Alnylam’s Transthyretin Amyloid Cardiomyopathy opportunity with Amvuttra is larger than appreciated, and strong Q2 results support near-term continued beats and long-term potential, the analyst tells investors in a research note. The firm’s physician checks and management’s early launch commentary point to rapid Amvuttra uptake, robust demand, growing diagnosis rates and an expanding addressable population, and a rapidly increasing prescriber base.