Alnylam (ALNY) PT Cut to $58 at Jefferies
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Jefferies analyst Gena Wang lowered her price target on Alnylam Pharmaceuticals (NASDAQ: ALNY) to $58.00 (from $86.00) but maintained a Buy rating after the company announced termination of revusiran Ph3 due to mortality imbalance.
Wang commented, "Following recent discontinuation of ALN-AAT, ALNY announced termination of revusiran Ph3 due to mortality imbalance. While longer follow-up would be needed to rule out similar safety concerns for the overall technology platform, the setback might be program/disease specific as suggested by our analysis. However, we see high risk for the ‘TTRsc02 program given seemingly lack of efficacy with revusiran. We lower PT to $58."
Shares of Alnylam Pharmaceuticals closed at $70.30 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesJefferies & Co, Gena Wang
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