Market Overview

UPDATE: Piper Jaffray Reiterates Overweight Rating, Raises PT on Alnylam Pharmaceuticals

Share:
Related ALNY
4 Biotechs Piper Jaffray Is Buying On The Pullback
Here's One Biotech Stock JMP Analysts Are Very Bullish On
Premarket Biotech Digest: Natural Killer Cells, Lipocine NDA, FDA Calendar (Seeking Alpha)

In a report published Monday, Piper Jaffray reiterated its Overweight rating on Alnylam Pharmaceuticals (NASDAQ: ALNY), and raised its price target from $25.00 to $35.00.

Piper Jaffray noted, “Alnylam is the leading RNAi therapeutic play with clinical progress and partnerships to drive value in 2013. Alnylam recently raised net proceeds of $174 million, and we estimate now holds proforma cash of ~$405 million. We look for Phase II ALN-TTR02 data in FAP this summer to prepare the company for a pivotal trial by year-end. Alnylam just filed a CTA to begin a Phase I trial of the subcutaneous formulation ALN-TTRsc, and aims to begin a Phase II exploratory trial in FAC this year. Alnylam will file an IND for ALN-AT3 in hemophilia and announced a new '5x15' program ALN-AS1 to treat acute intermittent porphyria. We reiterate our Overweight rating and are increasing our price target to $35 from $25 by adding value for ALN-TTRsc.”

Alnylam Pharmaceuticals closed on Friday at $24.77.

Latest Ratings for ALNY

DateFirmActionFromTo
Aug 2015Leerink SwannMaintainsOutperform
Aug 2015FBR CapitalInitiates Coverage onOutperform
Aug 2015JP MorganDowngradesOverweightNeutral

View More Analyst Ratings for ALNY
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

Related Articles (ALNY)

Get Benzinga's Newsletters