Alnylam Pharmaceuticals (ALNY) Price Target Lifted to $152 at Needham & Company Amid 12-Month Data

Needham & Company analyst Alan Carr reiterated a Buy rating and boosted his price target on Alnylam Pharmaceuticals (NASDAQ: ALNY) to $152.00 (from $120.00) following positive 12-Month data from Patisiran Phase 2 OLE Trial.

Carr commented, "Alnylam announced data today from a 12-mo interim analysis of the ongoing Phase 2 open-label extension (OLE) trial of patisiran in Familial Amyloidotic Polyneuropathy (FAP). A mean 2.5 point decrease in mNIS+7 score was reported. This compares to a 13-18 point increase observed with untreated pts and 5-7 point increase with pts on stabilizers in other studies. Mean TTR knockdown has consistently remained at ~80% over the course of the trial. Data from this trial are supportive of a positive outcome from the ongoing Phase 3 APOLLO trial in our opinion. We reiterate BUY and increase target to $152, 30x our 2022 EPS estimate, discounted 25% annually. We note more validation of the TTR program and believe there is room for upside as data from other RNAi programs are presented this year."

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 $118.68 yesterday.

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