Alnylam Pharmaceuticals (ALNY) Target Lifted to $94 at Needham & Company

February 14, 2014 7:29 AM EST Send to a Friend
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Price: $88.76 -0.18%

Rating Summary:
    9 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 28 | New: 24
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Needham & Company analyst Alan Carr, Ph.D reiterated a Buy rating and raised his price target on Alnylam Pharmaceuticals (NASDAQ: ALNY) from $65 to $94 following Q4 results and expected pipeline growth in 2014.

"Management reiterated plans to bring at least 6-7 candidates into clinical development by YE15, including two into Phase 3 by YE14," Carr notes. "Key milestones this year include data from the ALN-TTRsc Phase 2, ALN-AT3 Phase 1, and ALN-TTR02 Phase 2 OLE trials, all in 4Q14. The Jan 2014 Sanofi collaboration provides a large cash infusion, allowing a much larger R&D effort that may accelerate time to commercialization of multiple programs across multiple territories. We reiterate our BUY rating and raise our price target to $94, based on 25x 2020 EPS est., discounted 25% annually."

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 $81.56 yesterday.


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