UBS Upgrades Alnylam Pharmaceuticals (ALNY) to Buy, 'Achievable 5-year CAGR goal'
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UBS analyst Esther Rajavelu upgraded Alnylam Pharmaceuticals (NASDAQ: ALNY) from Neutral to Buy with a price target of $215.00 (from $141.00).
The analyst comments "ALNY offers a proven platform technology with multiple marketed products in early stages of growth and a strong pipeline of clinical stage assets. Importantly, over the next 12-24 months, we expect continued uptake in revenues and meaningful value
inflections tied to the pipeline including likely approval of Vutrisiran in ATTR-PN, Leqvio (partnered) in dyslipidemia, Onpattro Phase 3 data in ATTR-CM, and Zilebesiran Phase 2 data in hypertension. Most importantly we believe ALNY is well positioned for commercial execution and may likely exceed 5-year revenue CAGR of 40%. While some of this growth potential is reflected at current trading levels, we believe there is room for incremental value creation both with commercial momentum as well as pipeline progress. We estimate ALNY revenues should grow at a 5-year CAGR of ~46% ('20A-'25E), primarily tied to growth in the ATTR franchise with incremental contribution from Givlaari and Oxlumo."
Shares of Alnylam Pharmaceuticals closed at $192.68 yesterday.
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