Alnylam Pharma (ALNY): Reiterating Buy After R&D Day - Needham

Needham & Company analyst, Alan Carr, reiterated his Buy rating on shares of Alnylam Pharmaceuticals (NASDAQ: ALNY) after the company hosted an R&D meeting to provide an update on RNAi pipeline and platform. Initial Phase 1 ALN-TTRsc02 data were announced and reportedly point to a fixed once-quarterly 25mg or 50mg SQ dose. If IV patisiran Phase 3 development is successful in 2017, the analyst believes ALN-TTRsc02 might be rapidly developed as a more attractive next-gen option.

The analyst believes the RNAi platform has substantial long-term value and has a positive bias toward patisiran Phase 3 outcome in mid-2017. No change to the $98 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 $44.39 yesterday.

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