UPDATE: Ladenburg Thalmann Starts Alnylam Pharmaceuticals (ALNY) at Buy

Ladenburg Thalmann initiates coverage on Alnylam Pharmaceuticals (NASDAQ: ALNY) with a Buy rating and a price target of $75.00.

Analyst Dr. Chris James comments "Given its remarkably deep, diverse, and advanced pipeline, we view Alnylam as the premier RNAi play in the industry. The core RNAi technology silences, or knocks down, genes to treat a broad range of disorders in areas of high unmet need, including both rare and ultra-rare orphan diseases. By 2020, Alnylam expects to have three marketed products and 10 clinical programs, including four Phase 3 programs, across three therapeutic areas. The focus of our report will be on the mid-to-late stage programs including: (1) patisiran for the treatment hereditary ATTR amyloidosis (hATTR) with polyneuropathy; (2) fitusiran for the treatment of hemophilia and rare bleeding disorders; and (3) givosiran (formerly ALN-AS1) for acute hepatic porphyrias. In 2017, we anticipate a greater focus on safety given the discontinuation of revusiran from an imbalance in mortality in the Phase 3 ENDAEVOR study. We believe the market overreacted to this event and view the current share price as an attractive entry point for both new and current investors."

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 $40.45 yesterday.

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