Alnylam Pharmaceuticals (ANLY) Bullish Stance Reiterated at Needham & Company Post Q1
- Wall Street lower as health, consumer stocks decline
- Unusual 11 Mid-Day Movers 11/30: (HART) (AVXL) (HCLP) Higher; (SPCB) (CCYC) (EFUT) Lower
- SunTrust's Bob Peck Highlights 10 Candidates to Replace Yahoo! (YHOO) CEO Marissa Mayer
- IMF gives China's currency prized reserve asset status
- Piper Jaffray Positive on Fitbit (FIT) Following Strong Weekend and Into Meetings This Week
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: Seaport Global Securities Upgrades Targa Resources Partners, L.P. (NGLS) to Buy
- Evercore ISI Downgrades Starwood Hotels & Resorts (HOT) to Hold
- UPDATE: Fitbit's (FIT) Valuation 'Too Compelling to Ignore', Says Barclays; Analyst Upgrades Stock to Overweight
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!