Canaccord Genuity Maintains Bullish View on Alnylam (ALNY) Amid Positive KOL Insights on ALN-CC5

Canaccord Genuity analyst Adam Walsh reiterated a Buy rating and $160 price target on Alnylam Pharmaceuticals (NASDAQ: ALNY) following a conference call with Dr. Regis Peffault de Latour, lead author of an article published in the January 2015 edition of Blood titled, “Assessing complement blockade in patients with paroxysmal nocturnal hemoglobinuria receiving eculizumab.”

Walsh commented, "His assessment of both Alexion’s Soliris (eculizumab) and Alnylam’s ALN-CC5 was fair and balanced, in our view. The positive takeaways for ALN-CC5 were: (1) a clinical development pathway exists, either in the 5 to 10% of Soliris sub-optimal responders, or in countries where Soliris is either unavailable or unaffordable; (2) the high price of Soliris remains an obstacle to patient access, even in developed countries, which creates an opportunity for either a lower-priced substitute or a Soliris-sparing agent; and (3) monthly SC dosing with ALN-CC5 would be a huge advance for PNH patients over required bi-weekly infusions with Soliris, which restricts patients’ ability to lead “normal lives.” Net-net, we are encouraged by Dr. de Latour’s feedback on the potential for ALNCC5, and await P1/2 human clinical data expected June 14 at EHA (SAD in healthy volunteers) and in 1H16 (in PHN patients assessing LDH). Reiterate BUY and $160 PT"

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 $131.21 yesterday.

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