Jefferies Sees No Read-Through to The Medicines Company (MDCO) PCSK9 from Alnylam Setback
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Jefferies analyst Biren Amin reiterated his Buy rating and $43 price target on The Medicines Company (NASDAQ: MDCO) saying Alnylam Pharmaceuticals (NASDAQ: ALNY) set back has no read-through to the company's PCSK9 Program.
Amin commented, "ALNY announced that revusiran was stopped due to lack of a treatment benefit w/ an imbalance of deaths favoring the revusiran arm over placebo. The imbalance was not tx-related. As a result of ALNY's update, MDCO provided a safety update on ALN-PCSsc in which it reported no imbalances to date on peripheral neuropathy, liver toxicity, renal toxicity, and mortality from its 501-patient ORION-1 study. Data from this trial are expected at AHA on Nov 15."
MDCO last traded down 10.4% in pre-open trade to $34.50.
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