Needham & Company Reiterates a 'Buy' on Alnylam Pharmaceuticals (ALNY); Initial Proof-of-Concept Data from Two Programs Expected by YE11

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

Needham analyst says, "Alnylam management provided a quarterly review and update in a conference call yesterday. Initial data from the ALN-TTR-01 Phase 1 trial in transthyretin amyloidosis will be presented in late November, followed by results from a Phase 1 trial of ALN-PCS in hypercholesterolemia. While these trials have only a single-ascending dose design, we expect both of them to provide an early indication of efficacy based on biomarker response. We reiterate our rating and price target, recognizing that the stock is trading with an EV <$50M. We do not believe this adequately reflects the long-term potential of the company’s RNAi pipeline and platform."

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 $7.73 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Coherent (COHR) PT Raised to $420 at Needham
• Needham Reiterates Buy Rating on Digimarc (DMRC)
• NANO Nuclear Announces Participation in Several Investor Conferences