KOL Sees 70% of Phase 3 APOLLO-B - Needham & Company Bullish on Alnylam (ALNY) Ahead of patisiran Readout

Needham & Company analyst Joseph Stringer reiterated a Buy rating and $205.00 price target on Alnylam Pharmaceuticals (NASDAQ: ALNY), following a recent KOL event.

The analyst comments: "We hosted a call last week with Dr. Kevin Alexander, MD, a cardiologist at the Amyloid Center School of Medicine at Stanford University w/ ~200 ATTR-CM patients under his care, to discuss his thoughts on the Phase 3 APOLLO-B trial readout of Onpattro (patisiran) in ATTR-CM. Results are expected mid-2022. We think the readout will be a significant catalyst for ALNY.

On the Phase 3 APOLLO-B readout, Dr. Alexander thinks there is a ~70% chance the trial hits the 6MWT primary endpoint. If the trial is successful and the drug is ultimately approved, he sees patisiran use in 20-30% of his ATTR-CM patients. He is generally bullish on ALNY's RNAi approach in ATTR, and likes the potential of ALNY's Amvuttra (vutrisiran) as a follow-on drug and potential 1st-line therapy in ATTR-CM. In the note below, we detail additional key takeaways from our discussion with Dr. Alexander on the APOLO-B readout."

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 $141.56 yesterday.

By Vlad Schepkov

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