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While Alnylam Pharmaceuticals, Inc’s (NASDAQ: ALNY) proprietary RNA interference technology offers a powerful development platform, lead drugs patisiran and revusiran drive share value and the company also has a strong pipeline, Morgan Stanley’s David N Lebowitz said in a report. He initiated coverage of the company with an Overweight rating and a price target of $93.
Alnylam Pharma has ten 10 drugs in the pipeline and these focus on a wide range of indications from rare genetic diseases to more common disorders. “We see RNAi leading to a broad portfolio of approved drugs,” analyst David Lebowitz mentioned.
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Lead Drugs
Alnylam Pharma has two lead drugs: Patisiran for the treatment of hereditary ATTR with polyneuropathy and Revusiran for hereditary ATTR with cardiomyopathy. These two drug candidates would “help validate the platform and derisk the earlier stage pipeline,” Lebowitz commented.
Plenty Upside Potential
The company’s pipeline offers “plenty of potential for upside,” the analyst stated. The pipeline includes:
- Fitusiran for hemophilia and other bleeding disorders
- ALNPCSsc for hypercholesterolemia
- ALN-AS1 for hepatic porphyrias
- ALN-GO1 for primary hyperoxaluria type 1
- ALN-AAT for alpha-1 antitrypsin deficiency
“The extensive pipeline sets up a crowded catalyst calendar, with frequent data releases. With Alnylam maintaining much of the economics across its pipeline, we see many opportunities for upside,” Lebowitz added.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.