Alnylam Pharmaceuticals (ANLY) Bullish Stance Reiterated at Needham & Company Post Q1
- Top 10 News for 03/23 - 03/27: Kraft/Heinz Mega Food Merger, SanDisk Warns, Biotech Bubblicious
- Intel (INTC) in Talks to Buy Altera Corp (ALTR) - WSJ
- Dow Chemical (DOW) to Separate Chlor-Alkali Unit, Merge it with Olin (OLN)
- UPDATE: BlackBerry (BBRY) Posts Q4 adj.-EPS of 4c
- Unusual 11 Mid-Day Movers 03/27: Higher GBSN, OLN, OXM; Lower OHRP, MOLG, APDN (more...)
Needham & Company analyst Alan Carr reiterated a Buy rating and $94 price target on Alnylam Pharmaceuticals (NASDAQ: ALNY) following Q1 results.
Carr comments, "Alnylam mgmt hosted a conference call yesterday to provide a quarterly update. The company has made a series of presentations tied to multiple programs over the last month, including patisiran (TTR), ALN-PCSsc (hypercholesterolemia), and ALN-AAT (alpha-1-antitrypsin deficiency). Data from the ALN-AT3 hemophilia and ALN-CC5 programs are expected soon. Broadly, these data construct a competitive profile for RNAi in several rare diseases. Later this year, we expect to have initial insight into patisiran impact on FAP clincal symptoms (Phase 2 OLE trial interim analysis). We believe the stock is undervalued given recent pullback, and we reiterate our BUY."
The firm lowered FY 2014 EPS from ($4.93) to ($5.35) and FY 2015 EPS from ($1.84) to ($1.96).
Shares of Alnylam Pharmaceuticals closed at $50.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Canaccord Genuity Upgrades Kraft Foods Group (KRFT) to Buy
- Restoration Hardware (RH) PT, Estimates Cut at Piper Jaffray Post Q4
- GameStop (GME) PT, Estimates Cut at Piper Jaffray Following Mixed Q4
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!