Nomura/Instinet Reiterates Reduce On Alnylam Pharmaceuticals (ALNY) Ahead Of ENVISION Phase 3 Results

Nomura/Instinet analyst Christopher Marai reiterated a Reduce rating and $62.00 price target on Alnylam Pharmaceuticals (NASDAQ: ALNY) ahead of detailed results from the ENVISION Phase 3 trial of givosiran in patients with acute hepatic porphyria (AHP) at the European Association for the Study of the Liver (EASL) conference. Results will be presented in a call on Saturday, April 13, at 8:00am ET.

The analyst stated "Ahead of this data, we reached out to several physicians to seek more color on the results and expectations". He went on to state "Physicians we spoke with indicated that genetic screening is a problem because penetrance (symptomatic disease in the presence of a genetic mutation) is low (0.5% of patients with the mutation have symptoms, according to our discussions). One doc indicated that he would not prescribe givosiran to asymptomatic patients who have the mutation (first-degree relatives of the patient) because the penetrance of the mutation is low. We believe this breaks the ALNY narrative upside in market opportunity through genetic identification of patients".

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 $88.10 yesterday.

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