Alnylam Pharma (ALNY): Cutting PT to $124 - Chardan

Chardan Capital Markets analyst, Madhu Kumar, reiterated his Buy rating on shares of Alnylam Pharmaceuticals (NASDAQ: ALNY) but cut his price target to $124 from $131 after the company reported 2Q17 financial results. The analyst's notes did not review the quarter but instead, discussed three relevant outcomes for the APOLLO trial for TTR for amyloidosis with polyneuropathy. Top-line results are expected in mid-to-late September 2017, with full results being presented at the 1st European ATTR Amyloidosis Meeting for Patients and Doctors, November
2-3 in Paris.

The analyst sees 3 potential outcomes:

1. Patisiran exhibits both positive efficacy and safety: The overwhelmingly most likely scenario is success for patisiran in terms of both efficacy and safety.

2. Patisiran shows efficacy with a safety overhang, the second most likely scenario. Patisiran would demonstrate efficacy but has a safety issue, likely due to chronic steroid dosing in combination
with patisiran.

3. Patisiran fails to show positive efficacy, the least likely scenario in the analyst's eyes where patisiran fails to demonstrate efficacy in APOLLO,

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 $80.52 yesterday.

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