Alnylam Pharmaceuticals (ANLY) Bullish Stance Reiterated at Needham & Company Post Q1
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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.
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