Needham & Company Reiterates a 'Buy' on Alnylam Pharma (ALNY); Phase 2b Trial Misses, But Shares Still Undervalued

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Needham & Company reiterates a 'Buy' on Alnylam Pharmaceuticals (NASDAQ: ALNY) price target of $16.00.

Analyst, Alan Carr, said, "Alnylam announced mixed results from a Phase 2b Alnylam announced mixed results from a Phase 2b trial of ALN-RSV-01 in lung transplant patients with RSV infection. Although a trend towards reduction in incidence of new or progressive bronchiolitis obliterans syndrome (~50-60% reduction; BOS) is evident compared to placebo, the difference was not statistically significant under the pre-specified primary ITTc analysis (30.3% vs. 13.6%; p=0.058)...The stock is undervalued in our opinion (~$200M EV), regardless of ALN-RSV development plans. We are focused primarily on ALN-TTR development efforts for now."

For an analyst ratings summary and ratings history on Alnylam Pharmaceuticals click here. For more ratings news on Alnylam Pharmaceuticals click here.

Shares of Alnylam Pharmaceuticals closed at $10.13 yesterday, with a 52 week range of $5.88-$13.75.

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