UPDATE: Piper Jaffray Upgrades Alnylam Pharmaceuticals to Overweight
Piper Jaffray is out with its report today on Alnylam Pharmaceuticals (NASDAQ: ALNY), upgrading ALNY to Overweight from Neutral.
In its report, Piper Jaffray writes, "We look for upside as Alnylam reports Phase I proof-of-concept data on orphan drug ALN-TTR01 and high cholesterol drug ALN-PCS both in 4Q:11. In addition, Alnylam offers an attractive way to invest in Regulus Therapeutics, the preeminent microRNA play. We are upgrading Alnylam to Overweight from Neutral and increasing our price target to $12 from $10."
Shares of ALNY closed Monday at $7.34, up 6.38% from Friday's close.
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