Needham & Company Maintains a 'Buy' on Alnylam Pharmaceuticals (ALNY); Favorable View Based on Low Valuation

Needham & Company maintains a 'Buy' on Alnylam Pharmaceuticals (NASDAQ: ALNY).

Needham analyst says, "We have a favorable view towards the stock based on low valuation, a growing clinical pipeline, and a new strategy announced in early 2011 focused on rare diseases. Valuation is attractive given a negative EV ($40M), which in our view does not adequately reflect the value of the company’s RNAi platform and pipeline. RNAi technology development has been a challenge, particularly with respect to delivery. However, we believe Alnylam has made meaningful progress towards establishing utility in a clinical setting."

For more ratings news on Alnylam Pharmaceuticals click here and for the rating history of Alnylam Pharmaceuticals click here.

Shares of Alnylam Pharmaceuticals closed at $6.92 yesterday.

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