UPDATE: Deutsche Bank Initiates Coverage on Alnylam Pharmaceuticals with Buy Rating, $40 PT on Significant Long-Term Value Potential

In a report published Friday, Deutsche Bank analyst Alethia Young initiated coverage on

with a Buy rating and $40.00 price target. In the report, Deutsche Bank noted, “Alnylam is an early stage company that uses a technology called RNA interference that occurs naturally in the body to silence problematic genes in diseases that were previously deemed un-druggable. We believe Alnylam has the chance to unlock significant long-term value as they commercialize their assets in the clinic during 2017 and beyond, leading to $4B+ in unadjusted sales. We initiate with a Buy rating and a $40 target price.” Alnylam Pharmaceuticals closed on Thursday at $28.06.