Nomura/Instinet Starts Alnylam Pharmaceuticals (ALNY) at Reduce

Nomura/Instinet initiates coverage on Alnylam Pharmaceuticals (NASDAQ: ALNY) with a Reduce rating and a price target of $56.00.

Analyst Chris Marai recommends clients avoid the stock ahead of patisiran Phase 3 APOLLO readout citing:

1. financing post positive data to support high cash burn,
2. paucity of catalysts, and
3. disappointing patisiran launch.

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 $78.15 yesterday.

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