In a report published Friday, Piper Jaffray analyst Edward A. Tenthoff reiterated an Overweight rating on Alnylam Pharmaceuticals ALNY, and raised the price target from $42.00 to $60.00.
In the report, Piper Jaffray noted, “Alnylam hosted an R&D Day in NYC yesterday where the company reported encouraging Phase I data on ALN-TTRsc. These data come on the heels of positive Phase II ALN-TTR02 data just a few weeks ago providing proof-of-concept for Alnylam's orphan transthyretin (TTR) amyloidosis franchise. Alnylam also presented preclinical data on ALN-AT3 for the treatment of hemophilia at the International Society on Thrombosis and Haemostasis (ISTH) Congress and will file an IND soon. Based on this industry leading RNAi therapeutic pipeline, we reiterate our Overweight rating and are again increasing our 12-month price target this time to $60 from $42.”
Alnylam Pharmaceuticals closed on Thursday at $43.53.
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