H.C. Wainwright Reiterates Buy Rating on Alnylam Pharmaceuticals (ALNY)

H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating and $510.00 price target on Alnylam Pharmaceuticals (NASDAQ: ALNY).

The analyst commented: "On March 24, Alnylam hosted an investor webinar titled Establishing TTR Leadership: Progress in First Year Following Launch, marking the one-year anniversary of the U.S. approval of AMVUTTRA in transthyretin amyloidosis with cardiomyopathy (ATTR-CM). The event was hosted by management including CCO Tolga Tanguler, SVP/Head of U.S. Mark Soued, SVP TTR Franchise Commercialization Lead John Kennedy, VP TTR Disease Area Lead Sameer Bansilal, MD, and Chief Corporate Communications Officer and moderator Christine Akinc. While no new financial guidance was provided, it meaningfully strengthened our conviction in Alnylam's three core pillars of our investment thesis: 1) ATTR-CM remains significantly underdiagnosed and is expanding faster than previously appreciated; 2) AMVUTTRA is aiming at establishing itself as a first-line therapy with durable access and increasing physician preference; and 3) upcoming competitive dynamics — including the rise of competing RNA silencers as well as VYNDAQEL's (tafamidis), an oral TTR stabilizer commercialized by Pfizer loss of exclusivity (LOE) by the end of this year — are more likely to expand the category than disrupt it. Overall, the TTR investor webinar reinforces our thesis that AMVUTTRA is transitioning from early launch dynamics to commercial execution at scale, with increasing focus on competition, category reshaping, and prescriber expansion. Importantly, we continue to expect nucresiran, Alnylam's next-generation TTR silencer, to drive lifecycle management and significant longer-term upside. We reiterate our Buy rating and $510 price target on ALNY."

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 $328.70 yesterday.

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